Is Carnival in trouble?
Is Carnival in trouble? Carnival lost about $15 billion on a net basis for 2022 and 2021 combined, according to SEC filings. Weinstein — who took over as CEO in August 2022 from long-time leader Arnold Donald — ran point on operations as COO throughout the pandemic.
Why is Carnival going down?
With shares down almost 80% over the previous five years, Carnival Corporation (CCL -0.53%) has been a punishing investment for many long-term shareholders as it has grappled with headwinds like the COVID-19 pandemic, inflation, and rising interest rates.
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.
Is Carnival getting rid of ships?
Carnival is planning to remove three “smaller-less efficient ships from its fleet,” according to the Fourth Quarter 2022 Business Update.
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.
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.
Will Carnival ever recover?
Given its recovering revenue levels, Carnival should survive. Nonetheless, its ability for near-term prosperity appears seriously in doubt. As significant portions of the debt mature in 2026 and beyond, Carnival could find itself in a deeper debt trap.
Is Carnival going out of business?
No, Carnivals not likely to go bankrupt. It still has $7 billion in liquidity on its balance sheet as of the most recent quarters end, which should tide it over for a few more quarters.
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).
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.