Carnival : Quality Q3, encouraging initial indications on 2024 but the general context is more strained. Underperform - Target price adjusted to 840p
>Good quality quarterly results, above estimates - Carnival reported on Friday quality Q3 results. The group announced positive net profit for the quarter, a first since the start of the Covid crisis. It stood at $ 1.18bn on an adjusted basis ($ 1.07bn in reported data, vs a loss of $ 402m in Q2), a figure above the consensus’ forecast (Bloomberg) at $ 1.01bn and the group’s expectations (range of $ 0.95bn-$ 1.05bn). Activity has significantly improved (in line with ...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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