The world’s largest cruise operator Carnival Corp. earned record revenues in the fourth quarter of fiscal year 2023, but ended the period with a slight loss.
According to the company’s press release, the net loss in September-November amounted to $48 million, or $0.04 per share, compared to $1.6 billion, or $1.27 per share, in the same period last year. Adjusted loss decreased to 7 cents from 85 cents per share.
Adjusted EBITDA was positive and amounted to $946 million against minus $96 million a year earlier.
Revenue reached a record $5.397 billion, up from $3.839 billion in the fourth quarter of FY2022.
Analysts on average estimated an adjusted loss of 13 cents per share on revenue of $5.3 billion, according to FactSet.
Revenue from ticket sales in the fourth fiscal quarter increased by 55% to $3.51 billion, and from onboard sales by 20% to $1.886 billion.
For the entire fiscal year 2023, Carnival also received record revenues of $21.593 billion, up from $12.168 billion a year earlier. Adjusted EBITDA amounted to plus $4.23 billion versus minus $1.68 billion a year earlier, adjusted net profit – $1 million versus a loss of $5.51 billion in FY2022.
In FY2024, the company forecasts adjusted EBITDA of $5.6 billion (including about $800 million in the first quarter) and adjusted net income of $1.2 billion (including a loss of $280 million in the first quarter).
The company’s share price is up 3.5% in Thursday trading.
