Carnival : Business continues to reflect deterioration (in Q4), message more cautious (Omicron); Underperformance maintained
>A loss of $ 2.0bn in Q4 (in line with Q3) - Carnival reported a Q4 loss of $ 2.0bn on an adjusted basis (-$ 2.6bn reported), which is higher than expected (-$ 1.6bn expected by the consensus). This comes out, all told, exactly in line with the loss recorded in Q3, and in general with that of almost all the quarters of 2021. It is therefore a second year with annual losses of ~$ 10bn, which is understandable given that 2021 revenues are well down, -66% y-o-y and -91% ...Carnival is a leisure travel and cruise company. Co. operates over 100 cruise ships within a portfolio of global, regional and national cruise brands that sell tailored cruise products, services and vacation experiences. Co.'s North America cruise brands include Carnival Cruise Line, Princess Cruises, Holland America Line, and Seabourn. Co. also has a Cruise Support segment that represents its portfolio of port destinations and private islands, which are operated for the benefit of its cruise brands. In addition to its cruise operations, Co. owns Holland America Princess Alaska Tours, the tour company in Alaska and the Canadian Yukon, which complements Co.'s Alaska cruise operations.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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