Carnival : Now much greater guarantees on the operating performance; Neutral (vs Underperform), target price 1,150p
>The positive momentum continues, Q2 figures slightly ahead of expectations - During trading yesterday, Carnival published its Q2 2024 results (quarter to end-May) which were a shade higher than expected and confirmed, as was the case with the Q1 results, the good momentum in the cruise ship sector. On the operating performance, we note group revenue growth of 18% y-o-y to € 5.78bn, or 2% higher than the consensus (i.e. FactSet), driven by higher yields (adjusted net ...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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