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Carnival (CCL) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Zacks Equity Research
·2-min read

For the quarter ended May 2024, Carnival (CCL) reported revenue of $5.78 billion, up 17.7% over the same period last year. EPS came in at $0.11, compared to -$0.31 in the year-ago quarter.

The reported revenue represents a surprise of +2.20% over the Zacks Consensus Estimate of $5.66 billion. With the consensus EPS estimate being -$0.01, the EPS surprise was +1200.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Carnival performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Available lower berth days (ALBDs): 23,500 thousand versus the five-analyst average estimate of 23,587.6 thousand.

  • Occupancy percentage: 104% versus the five-analyst average estimate of 102.8%.

  • Passenger cruise days (PCDs): 24,300 thousand versus 24,271.3 thousand estimated by four analysts on average.

  • Fuel consumption in metric tons: 700 Kmt versus 774.51 Kmt estimated by three analysts on average.

  • Fuel consumption in metric tons per ALBD: 31.9 Kmt compared to the 32.76 Kmt average estimate based on three analysts.

  • Fuel cost per metric ton: $684 versus the three-analyst average estimate of $674.50.

  • Net yields (per ALBD): $186.60 versus $184.98 estimated by three analysts on average.

  • Revenues- Passenger ticket: $3.75 billion versus the seven-analyst average estimate of $3.70 billion. The reported number represents a year-over-year change of +19.5%.

  • Revenues- Onboard and other: $2.03 billion compared to the $1.97 billion average estimate based on six analysts. The reported number represents a change of +14.5% year over year.

View all Key Company Metrics for Carnival here>>>

Shares of Carnival have returned +8.3% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research