Is Carnival Cruise Line in debt?
Is Carnival Cruise Line in debt? Carnival (CCL 0.16%) has seen a rapid improvement in operations in 2023 and recently reported record quarterly revenue. But it's still dealing with tens of billions of dollars in debt from the pandemic that's an overhang on the stock.
Will Carnival stock ever recover?
Carnival is finally recovering from its worst two years in recent history, and its outlook seems stable. However, the debt it accumulated during the pandemic remains an albatross around its neck. While the stock looks cheap, investors should tread with caution for now.
How much debt is Carnival Cruises in?
Carnival long term debt for the quarter ending August 31, 2023 was $29.516B, a 3.5% increase year-over-year. Carnival long term debt for 2022 was $31.953B, a 12.08% increase from 2021. Carnival long term debt for 2021 was $28.509B, a 28.83% increase from 2020.
What are the financial issues with Carnival?
Carnival cautioned in June that higher ticket prices may not offset the impact of risking marketing and labor costs, as well as fuel, telling investors that is forecast a full-year loss of between 8 cents and 20 cents per share.
Is Royal Caribbean owned by Carnival?
It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of January 2021, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.
Which cruise line has most debt?
Covid-19 shut the industry for the best part of two years, leaving the Big Three — Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings — under an unprecedented pile of debt that they will be paying down for years. Carnival is $35bn in the hole, Royal Caribbean owes $24bn and Norwegian owes $13.4bn.
What is the future outlook for Carnival Cruises?
Carnival Corp (NYSE:CCL) The 18 analysts offering 12-month price forecasts for Carnival Corp have a median target of 16.50, with a high estimate of 25.00 and a low estimate of 10.18. The median estimate represents a +29.46% increase from the last price of 12.75.
Can Carnival survive recession?
Even with the threat of an impending recession, Carnival Cruise executives and analysts think the cruise line is well positioned to handle any economic downturn. While certainly not recession-proof, Carnival's executive team expressed confidence in the company's long-term outlook.
Does cruise have a future?
CLIA forecasts passenger numbers will not only meet but exceed pre-pandemic levels by the end of 2023. And according to Cruise Industry News' cruise ship orderbook for ocean-going vessels, nearly 40 new ships are lined up to debut this year alone, with more than 75 vessels on order through 2027.
Will Carnival have a new ship in 2024?
In spring 2024, Carnival Firenze will debut, setting sail from this homeport towards south-of-the-border fun along Mexico's Pacific coast! So, Long Beach, you're wondering what to expect from Fun Italian Style ™?
Who owns most of Carnival?
(CCL) in the U.S. and as Carnival plc (CCL) on the London Stock Exchange. The top individual shareholders of Carnival are Randall J. Weisenburger, Arnold W. Donald, and David Bernstein, and the top institutional shareholders are Micky Meir Arison, Vanguard Group Inc., and Public Investment Fund.
Which company is bigger Carnival or Royal Caribbean?
Winner: Royal Caribbean Both companies are market leaders in terms of fleet sizes. That said, Royal Caribbean has more ships and they're often larger, which means additional dining, activities and lodging options for passengers.
Will Carnival survive 2023?
The world's largest cruise line operator is trading 126% higher in 2023. It might not be too late to hop aboard. The waves keep rising for Carnival (CCL -6.60%). Shares of the world's largest cruise line operator have more than doubled this year, and the Wall Street accolades keep coming.
Is Royal Caribbean in financial trouble?
Royal Caribbean has a massive amount of debt on its balance sheet that it accumulated during the pandemic to stave off bankruptcy. At the end of Q2, the company had $18.7 billion in long-term debt and $1.7 billion in current debt (meaning debt due within 1 year).
Is Carnival cruise line in financial trouble?
However, investors should note that Carnival's debt levels more than tripled throughout the COVID-19 crisis. It ended the first quarter of fiscal 2023 with $32.7 billion in long-term debt, compared to $9.7 billion at the end of fiscal 2019, which gives it a staggering debt-to-equity ratio of 5.6.
Why are Carnival cruises so expensive right now?
After discounting aggressively following years of COVID-era testing requirements and restrictions, cruise operators such as Royal Caribbean Cruises (RCL. N) and Carnival Corp (CCL. N) are looking to raise prices as occupancy levels approach pre-pandemic levels.
Why is Carnival so cheap?
Ship size and capacity: Carnival operates some of the largest cruise ships in the world, which allows them to accommodate a larger number of passengers. The higher passenger capacity spreads operational costs over more people, leading to potential cost savings.
Is Carnival cruise a good employer?
Is Carnival a good company to work for? Carnival has an overall rating of 3.9 out of 5, based on over 1,456 reviews left anonymously by employees. 75% of employees would recommend working at Carnival to a friend and 74% have a positive outlook for the business. This rating has decreased by -2% over the last 12 months.