Daily Management Review

World's largest cruise operator posts quarterly profit for first time since 2019


The largest cruise company in the world, Carnival Corp., reported a net profit in the third quarter of its fiscal year 2023 (June–August) for the first time since the pandemic. Adjusted earnings and revenue were above expectations as well.

Ron Cogswell
Ron Cogswell
The company posted net income of $1.074 billion, or 79 cents per share, for the quarter in comparison to a net loss of $770 million, or 65 cents per share, during the same period in the previous year. Adjusted earnings per share were 86 cents in comparison to a loss of 58 cents.

Adjusted EBITDA rose to $2.221 billion from $303 million.

Revenue increased to a record $6.854 billion from $4.305 billion the previous year.

According to FactSet, analysts were forecasting 75 cents per share in earnings on a $6.7 billion in revenue.

Carnival reported net profits for the first time since the quarter that ended in November 2019. It also reported adjusted earnings for the first time since February 2020.

source: bloomberg.com