- Carnival Corp (NYSE:CCL) reported first-quarter FY23 sales of $4.43 billion, beating the consensus of $4.33 billion. Revenue grew 95% from 2019 levels and jumped 173% from $1.6 billion in the prior year.
- Passenger Cruise Day (PCD) increased 180.5% Y/Y to 20.2 million. Occupancy for Q1 was 91%. Available lower berth days (ALBD) for Q1 were 22.1 million.
- Total customer deposits as of February 28, 2023, totaled $5.7 billion.
- Selling and administrative expenses rose 34.3% to $712 million.
- The operating loss for the quarter narrowed to $(172) million from a loss of $(1.5) billion last year.
- The company held $5.5 billion in cash and equivalents as of Feb. 28, 2023.
- Adjusted EBITDA for the quarter was $382 million.
- Adjusted EPS loss for the quarter of $(0.55) beat the consensus of $(0.60).
- Carnival CEO Josh Weinstein commented, “In the first quarter, we outperformed our guidance on all measures. We achieved record first quarter net per diems, exceeding the high end of our guidance, driven by improving ticket prices and sustained growth in onboard revenue, while delivering an additional seven points of occupancy on higher capacity compared to the prior quarter.”
- Outlook: Carnival sees FY23 adjusted EBITDA of $3.9 billion – $4.1 billion; Occupancy of 100% or higher.
- The company expects Q2 adjusted EBITDA of $600 million – $700 million; Occupancy rate of 98% or higher.
- With cash from operations turning positive in Q1, the company expects continued growth in cash from operations to be the driver for paying down debt over time.
- Price Action: CCL shares are trading lower by 0.81% at $9.31 on the last check Monday.
- Photo Via Company
EXCLUSIVE: Coya Therapeutics, Focused On Neurodegenerative Diseases Has Gained 70% Since IPO; CEO Highlights Efforts On Combination Therapy For Rare Diseases
Coya Therapeutics is working On neurodegenerative disease treatment with its combination therapies targeting regulatory T cells. CEO Howard Berman discusses the potential of COYA 302 for ALS, FTD, Parkinson's, and Alzheimer's, emphasizing a transformative approach to immune balance restoration.
