Carnival Stocks Records Gains in 4th Quarter Report

Carnival Stocks Records Gains in 4th Quarter Report

Carnival Corp (CCL) +2.67 percent reported $1.28 billion in fourth-quarter FY21 revenues, up from $34 million in Q4 FY20. Operating expenses increased by 89.7% to $3.1 billion. From $(1.64) billion a year before, the operational loss increased to $(1.89) billion.

In comparison to 2019, revenue per passenger cruise day for the cruise segments grew by 4%. The company’s monthly average cash burn rate for the fourth quarter of 2021 was $510 million, with occupancy at 58 percent.

In Q4 FY20, the EPS loss was $(2.31), compared to $(2.41) in the previous quarter. The adjusted net loss increased to $(1.95) billion from $(1.86) billion in the fourth quarter of FY20.

61 percent of the organization’s capacity was running with guests on board as of November 30, 2021, and the complete fleet is expected to be back in service in the spring of 2022. As of November 30, 2021, the firm has $9.1 billion in cash and equivalents.

CEO Arnold Donald stated that the organization predicts consistently positive cash flow beginning in the second quarter of 2022 when additional ships restart passenger cruise operations.

Price Update: CCL shares are currently trading 3.91 percent higher at $19.00 as of Monday’s latest update.

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Oladotun Olayemi

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