Shares of Carnival Corp. (NYSE: CCL) were sailing higher in morning trading on Wednesday after the cruise operator reported a narrower-than-expected adjusted loss of $0.85 per share versus consensus estimates of a loss of $0.88 in the fiscal fourth quarter.
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CCL posted Q4 revenues of $3.8 billion, a massive jump of nearly 200% year-over-year but still fell short of Street expectations by $110 million.
The company stated in its press release, “The company’s full year 2023 cumulative advanced booked position is higher than its historical average at higher prices in constant currency, normalized for FCCs [future cruise credits], as compared to a strong 2019.”
Analysts are sidelined about CCL stock with a Hold consensus rating based on five Buys and five Holds each and two Sells.