Third-quarter revenue rose 3.5% to a slightly better-than-expected $8.4bn, driven by strong onboard spending. Adjusted cash profit (EBITDA) was flat at $3.0bn, with growth held back by higher fuel prices.
Free cash flow was also flat at £0.7bn. In the first nine months of the year net debt has fallen around 8% to $22.7bn. Over the same period, Carnival returned $1.8bn to shareholders, including $1.2bn of share buybacks.
Full-year adjusted cash profit guidance was nudged slightly higher to $7.1bn. For next year, pricing and occupancy remain at record levels, with customer deposits rising to $7.6bn, $0.5bn higher than the prior-year record.
The shares were up 12.1% after following the announcement.
Our view
HL view to follow.
Carnival key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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