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Carnival (CCL) Gears Up for Q2 Earnings: What's in Store?
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Carnival Corporation (CCL - Free Report) is scheduled to report second-quarter fiscal 2023 results on Jun 26. In the last reported quarter, the stock delivered a negative earnings surprise of 11.3%.
Q2 Estimates
The Zacks Consensus Estimate for fiscal second quarter is pegged at a loss of 35 cents per share compared with a loss of $1.64 reported in the year-ago quarter.
The consensus estimate for revenues is pegged at $4.79 billion. In the prior-year quarter, the company reported revenues of $2.4 billion.
Factors to Note
Carnival’s fiscal second-quarter performance is likely to have benefited from strong demand for cruising, acceleration in booking volumes, bundled package offerings and pre-cruise sales. Management stated that its 2023 cumulative advanced booked position is at increased prices compared with 2019 levels.
Increased revenues from its onboard and passenger ticket are likely to have driven fiscal second-quarter top line. Our model predicts passenger ticket revenues, and onboard and other revenues to increase 150.7% and 39.5% year over year to $3,221.6 million and $1,557.3 million, respectively.
However, inflationary pressures are likely to have dented CCL’s margins in the to-be-reported quarter. Russia’s invasion of Ukraine and its resulting impacts including supply-chain disruptions, increased fuel prices and international sanctions are likely to have affected the company’s operations in the quarter under review.
Our proven model predicts an earnings beat for Carnival this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Carnival has an Earnings ESP of +3.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Shares of Boyd Gaming have gained 36.8% in the past year. BYD’s earnings beat the consensus estimate in each of the trailing four quarters, the average surprise being 13.7%.
Hyatt Hotels Corporation (H - Free Report) has an Earnings ESP of +13.11% and a Zacks Rank #3.
Shares of Hyatt have jumped 53.6% in the past year. H’s earnings beat the consensus estimate in three of the trailing four quarters and missed once, the average surprise being 1,372.6%.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +72.15% and a Zacks Rank #3.
Shares of MGM Resorts have gained 57.1% in the past year. MGM’s earnings beat the consensus estimate in two of the trailing four quarters and missed twice, the average surprise being 81%.
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Carnival (CCL) Gears Up for Q2 Earnings: What's in Store?
Carnival Corporation (CCL - Free Report) is scheduled to report second-quarter fiscal 2023 results on Jun 26. In the last reported quarter, the stock delivered a negative earnings surprise of 11.3%.
Q2 Estimates
The Zacks Consensus Estimate for fiscal second quarter is pegged at a loss of 35 cents per share compared with a loss of $1.64 reported in the year-ago quarter.
The consensus estimate for revenues is pegged at $4.79 billion. In the prior-year quarter, the company reported revenues of $2.4 billion.
Factors to Note
Carnival’s fiscal second-quarter performance is likely to have benefited from strong demand for cruising, acceleration in booking volumes, bundled package offerings and pre-cruise sales. Management stated that its 2023 cumulative advanced booked position is at increased prices compared with 2019 levels.
Increased revenues from its onboard and passenger ticket are likely to have driven fiscal second-quarter top line. Our model predicts passenger ticket revenues, and onboard and other revenues to increase 150.7% and 39.5% year over year to $3,221.6 million and $1,557.3 million, respectively.
However, inflationary pressures are likely to have dented CCL’s margins in the to-be-reported quarter. Russia’s invasion of Ukraine and its resulting impacts including supply-chain disruptions, increased fuel prices and international sanctions are likely to have affected the company’s operations in the quarter under review.
Carnival Corporation Price and EPS Surprise
Carnival Corporation price-eps-surprise | Carnival Corporation Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Carnival this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Carnival has an Earnings ESP of +3.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Carnival has a Zacks Rank #3.
Other Stocks Poised to Beat Earnings
Boyd Gaming Corporation (BYD - Free Report) has an Earnings ESP of +3.55% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Boyd Gaming have gained 36.8% in the past year. BYD’s earnings beat the consensus estimate in each of the trailing four quarters, the average surprise being 13.7%.
Hyatt Hotels Corporation (H - Free Report) has an Earnings ESP of +13.11% and a Zacks Rank #3.
Shares of Hyatt have jumped 53.6% in the past year. H’s earnings beat the consensus estimate in three of the trailing four quarters and missed once, the average surprise being 1,372.6%.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +72.15% and a Zacks Rank #3.
Shares of MGM Resorts have gained 57.1% in the past year. MGM’s earnings beat the consensus estimate in two of the trailing four quarters and missed twice, the average surprise being 81%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.