Carnival PLC (CUK) stock surged 5.34% in pre-market trading on Friday, driven by the cruise operator's strong fourth-quarter financial results and an optimistic outlook for fiscal year 2025.
For the fourth quarter ended November 30, 2024, Carnival reported an adjusted profit of $0.14 per share, exceeding analysts' expectations of $0.08 per share. Revenue for the quarter reached $5.94 billion, up 10% year-over-year and in line with estimates.
The company's robust financial performance and positive guidance for fiscal 2025 fueled investor optimism. Carnival expects to achieve breakeven adjusted earnings in the first quarter of 2025 and projects adjusted earnings per share of $1.70 for the full year, surpassing analysts' forecasts of a $0.02 loss and $1.75 EPS, respectively.
Carnival's cumulative advanced booked position for 2025 is at an all-time high for both price and occupancy, reflecting continued strong demand for cruise vacations. The company stated that it expects to achieve its 2026 SEA Change EBITDA target one year in advance, in 2025, driven by its efforts to optimize its portfolio and generate demand.
"This has been an incredibly strong finish to a record year," commented Carnival Corporation & plc's Chief Executive Officer Josh Weinstein. "Revenues hit an all-time high driven by a strong demand environment that we elevated throughout the year, enabling us to outperform our initial 2024 guidance and deliver nearly $2 billion more to the bottom line, year over year."
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