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published in Blogs
Mar 22, 2022
Carnival (CCL, $18.63) misses fiscal Q1 expectations

Carnival (CCL, $18.63) misses fiscal Q1 expectations

Carnival Corporation & plc  posted its first-quarter fiscal 2022 earnings that fell short of Zacks Consensus Estimate. Revenue, too, lagged expectations.

The cruise company’s loss came in at -$1.65 a share, wider than the Zacks Consensus Estimate of a loss of -$1.23. In the year-ago quarter, the company incurred a loss per share of -$1.79.

Revenues in the quarter were $1,623 million, below consensus estimate of $2,331 million. However, the figure is higher than the year-ago quarter’s  $26 million. Passenger ticket and onboard and other revenues were $873 million and $750 million, respectively.

The company reiterated its expectations of a net loss for the second quarter and the full year of 2022. However, it projects a positive profit in the third quarter of fiscal 2022.

Related Tickers: CCL