Will Passenger Ticket Revenues Aid Carnival's (CCL) Q4 Earnings?
Carnival Corporation & plc CCL is scheduled to report its fourth-quarter fiscal 2023 results on Dec 21. The company is likely to benefit from robust passenger ticket revenues. CCL has exhibited a solid performance in the past year, with the stock rising 120.9% and outperforming the industry’s 19.6% growth.
Robust Passenger Ticket Revenues Bode Well
CCL is anticipated to see improved performance in the fourth quarter of fiscal 2023, driven by robust passenger ticket revenues. The company is expected to have witnessed heightened booking activities, a favorable pricing environment and successful capacity-generation initiatives, all contributing positively to its financial results.
Additionally, the company's performance in the quarter to be reported is likely to have been boosted by strong demand and improved onboard spending. With the strength and diversity of its brands and itineraries, CCL boasts a broader passenger base among potential and repeat cruise vacationers.
Our model predicts passenger ticket revenues to surge 47.6% year over year to $3,350.1 million. Per our model, revenues from North America, Europe, Australia and Other will likely jump 34.8%, 23.2%, 19.9% and 767.5% year over year to $3,200.6 million, $1,529.8 million, $302.2 million and $193.6 million, respectively.
Click here to know how the company’s overall fiscal fourth-quarter performance is expected to be.
Carnival Corporation Price and EPS Surprise
Carnival Corporation price-eps-surprise | Carnival Corporation Quote
Overall Q4 Earnings & Revenue Expectations
The Zacks Consensus Estimate for the bottom line is currently pegged at a loss of 12 cents per share, compared with a loss of 85 cents reported in the prior-year quarter. The consensus mark for revenues is pegged at $5.32 billion, suggesting a 38.6% year-over-year jump.
CCL currently carries a Zacks rank #3 (Hold).
Stocks Poised to Beat Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
Royal Caribbean Cruises Ltd. RCL has an Earnings ESP of +0.39% and a Zacks Rank #1.
Shares of Royal Caribbean have surged 139.2% in the past year. RCL’s earnings beat the consensus mark in all the trailing four quarters, the average surprise being 28.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Live Nation Entertainment, Inc. LYV has an Earnings ESP of +0.98% and a Zacks Rank #1.
Shares of Live Nation have gained 34.3% in the past year. LYV’s earnings beat the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 37.5%.
Cedar Fair, L.P. FUN has an Earnings ESP of +47.83% and a Zacks Rank #3.
Shares of Cedar Fair have gained 0.7% in the past year. FUN’s earnings topped the consensus mark in three of the trailing four quarters and missed once, with the average surprise being 67.3%.
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Carnival Corporation (CCL) : Free Stock Analysis Report
Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report
Cedar Fair, L.P. (FUN) : Free Stock Analysis Report
