Carnival : Poor full-year results. Underperform, target price lowered to 720p
>A poor set of annual results, a net loss of $ 6.1bn for the full-year - Carnival posted a poor set of FY 2022 results (to end-November), as expected. Group revenue came in at $ 12.2m (Visible Alpha consensus at $ 12.3bn), showing a sharp y-o-y increase (with FY 2022 largely dented by health restrictions) but representing just 58% of 2019 revenue. Full-year EBIT was negative at -$ 4.4bn (vs -$ 7.9bn, a year earlier), underperforming expectations (the consensus anticip...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.
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