Will Ticket Revenues Drive Carnival's (CCL) Q3 Earnings?
Carnival Corporation & plc CCL is scheduled to report third-quarter fiscal 2023 results on Sep 29. The company is likely to benefit from robust passenger ticket revenues. CCL has exhibited a solid performance in the past six months, with this stock rising 47.5% and outperforming the industry’s 5% growth.
Robust Passenger Ticket Revenues to Drive Performance in Q3
CCL’s third-quarter fiscal 2023 performance is expected to benefit from strong passenger ticket revenues. It is likely to have experienced an increase in booking activities, a favorable pricing environment and successful capacity-generation efforts, all of which are positive factors.
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 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 68.3% year over year to $4,367.8 million. Per our model, revenues from North America, Europe, Australia and Other will jump 45.6%, 32.9%, 489.6% and 687.9% year over year to $4,008.5 million, $1,934.8 million, $436.3 million and $173.3 million, respectively.
Click here to know how the company’s overall fiscal fourth-quarter performance is expected to be.
Carnival Corporation Price and Consensus
Carnival Corporation price-consensus-chart | Carnival Corporation Quote
Overall Q3 Earnings & Revenue Expectations
The Zacks Consensus Estimate for earnings is currently pegged at 75 cents per share, indicating 229.3% growth year over year. The consensus mark for revenues is pegged at $6.71 billion, suggesting a 55.8% 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.
Marriott International, Inc. MAR has an Earnings ESP of +1.83% and a Zacks Rank #3.
Shares of Marriott have gained 33.3% in the past year. MAR’s earnings surpassed the consensus mark in all the trailing four quarters, the average surprise being 5.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boyd Gaming Corporation BYD has an Earnings ESP of +1.74% and a Zacks Rank #3.
Shares of Boyd Gaming have risen 24.8% in the past year. BYD’s earnings outpaced the consensus mark in all the trailing four quarters, the average surprise being 12.2%.
Caesars Entertainment, Inc. CZR has an Earnings ESP of +67.78% and a Zacks Rank #3.
Shares of Caesars Entertainment have increased 32.8% in the past year. CZR’s earnings outshined the consensus mark in all the trailing four quarters, the average surprise being 74.3%.
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Carnival Corporation (CCL) : Free Stock Analysis Report
Marriott International, Inc. (MAR) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
