Shares of Carnival Corp. (CCL) surged 1.8% in premarket trading Thursday, following the cruise operator’s impressive fiscal fourth-quarter results and optimistic full-year profitability outlook.

Q4 Performance:

  • Net losses for the quarter to Nov. 30 narrowed to $48 million, or 4 cents a share, from $1.6 billion, or $1.27 a share, in the year-ago period.
  • Excluding nonrecurring items, the adjusted per-share loss of 7 cents beat the FactSet loss consensus of 13 cents.
  • Revenue experienced a significant jump of 40.6% to $5.397 billion, surpassing the FactSet consensus of $5.295 billion.
  • Passenger ticket revenue showed remarkable growth, climbing 54.7% to $3.510 billion.
  • Onboard and other revenue also rose by 20.1% to $1.886 billion.

Positive Outlook:

Carnival’s Chief Executive, Josh Weinstein, expressed confidence in the company’s performance, stating, “We consistently outperformed in all four quarters of the year, buoyed by a strengthening demand environment across all our brands.”

For fiscal 2024, the company expects adjusted earnings before interest, taxes, depreciation, and amortization of $5.6 billion, topping the current FactSet consensus of $5.5 billion.

Impressive Year-to-Date Growth:

Carnival’s stock has skyrocketed 124.2% year to date through Wednesday, making it the company’s best yearly performance since going public in July 1987. In comparison, the S&P 500 has advanced 22.4%.

Overall, Carnival Corp.’s strong Q4 results and positive outlook showcase its resilience and growth potential in the cruise industry.

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