Carnival Corp. Q2 Lifts Cruise Stocks

Carnival Horizon in Curacao

Carnival Corporation’s positive second quarter business update conference call today lifted the company’s stock prices as well as those of Royal Caribbean and Norwegian Cruise Line Holdings.

Starting the day at $9.72, Carnival traded for $10.48 following the call. Royal opened at $35,56 and moved up to $40.66, and Norwegian opened at $11.63, moving up to $12.75.

Carnival reported today that its cash flow from operations turned positive during it second (financial) quarter ended May 31, 2022, that revenue was up nearly 50 percent from the first quarter, and that fleetwide occupancy was 69 percent compared to 54 percent in the prior quarter.

While expecting a net loss for the year, Carnival executives also said that there is the the potential that EBITDA will be greater in 2023 than it was in 2019. The wild card is the cost of fuel. The target for 2023 is to carry 14 million guests.

Carnival said it has turned the corner of its recovery trajectory.

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