Carnival Corporation plc (CCL) Q1 2024: Ccl

Executive Summary

Carnival Corporation plc (CCL) reported impressive first quarter results for 2024, achieving record revenues of $5.41 billion, representing a 21.95% year-over-year increase. The cruise operator continues to see outstanding demand across its brands, evidenced by an over 17% year-over-year surge in pricing and occupancy rates significantly higher compared to previous periods. Despite a net loss of $214 million, management's insights on solid bookings and customer deposits reaching unprecedented levels underscore a robust recovery trajectory. The company's improved guidance reflects confidence in its strategies to strengthen cash flows and enhance operational efficiencies moving forward.

Key Performance Indicators

Revenue

5.41B

QoQ: 0.19% | YoY:21.95%

Gross Profit

1.09B

20.10% margin

QoQ: -38.43% | YoY:-3.03%

Operating Income

275.00M

QoQ: -28.39% | YoY:287.07%

Net Income

-214.00M

QoQ: -345.83% | YoY:69.12%

EPS

-0.17

QoQ: -347.37% | YoY:69.09%

Revenue Trend

Margin Analysis

Key Insights

**Revenue**: $5.41 billion (YoY: +21.95%, QoQ: +0.19%)\n- **Gross Profit**: $1.09 billion (YoY: -3.03%, QoQ: -38.43%)\n- **Net Income**: $-214 million (YoY: +69.12%, QoQ: -345.83%)\n- **EPS**: $-0.17 (YoY: +69.09%, QoQ: -347.37%)\n\n**Cost Structure**\n- **Operating Income**: $275 million (YoY: +287.07%, QoQ: -28.39%)\n- **Interest Expense**: $471 million\n- **EBITDA**: $861 million (EBITDA margin: 16.4%)\n\n**Liquidity and Capital Position**\n- **Cash at Period End**: $2.27 billion\n- **Free Cash Flow**: $-369 million\n\n**Ratios**\n- **Current Ratio**: 0.362\n- **Debt-to-Equity Ratio**: 4.79\n- **Net Income Margin**: -3.9%

Financial Highlights

Revenue and Profitability\n- Revenue: $5.41 billion (YoY: +21.95%, QoQ: +0.19%)\n- Gross Profit: $1.09 billion (YoY: -3.03%, QoQ: -38.43%)\n- Net Income: $-214 million (YoY: +69.12%, QoQ: -345.83%)\n- EPS: $-0.17 (YoY: +69.09%, QoQ: -347.37%)\n\nCost Structure\n- Operating Income: $275 million (YoY: +287.07%, QoQ: -28.39%)\n- Interest Expense: $471 million\n- EBITDA: $861 million (EBITDA margin: 16.4%)\n\nLiquidity and Capital Position\n- Cash at Period End: $2.27 billion\n- Free Cash Flow: $-369 million\n\nRatios\n- Current Ratio: 0.362\n- Debt-to-Equity Ratio: 4.79\n- Net Income Margin: -3.9%

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	5.41B	21.95%	0.19%
Gross Profit	1.09B	-3.03%	-38.43%
Operating Income	275.00M	287.07%	-28.39%
Net Income	-214.00M	69.12%	-345.83%
EPS	-0.17	69.09%	-347.37%

Key Financial Ratios

currentRatio

0.36

grossProfitMargin

20.1%

operatingProfitMargin

5.09%

netProfitMargin

-3.96%

returnOnAssets

-0.43%

returnOnEquity

-3.2%

debtEquityRatio

4.79

operatingCashFlowPerShare

$1.4

freeCashFlowPerShare

$-0.29

priceToBookRatio

priceEarningsRatio

-23.42

Net Income vs. Revenue

Expense Breakdown

Competitive Position

Company	Gross Margin	Operating Margin	Return on Equity	P/E Ratio
CCL Focus	20.10%	5.09%	-3.20%	-23.42%
RCL	34.70%	20.40%	6.99%	25.09%
ABNB	64.30%	4.72%	3.34%	98.70%
EXPE	80.30%	-2.15%	-15.20%	-33.43%
BKNG	96.00%	17.90%	-19.20%	39.33%

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	5,938.00	0.27	+10.0%	View
Q3 2024	7,896.00	1.26	+15.2%	View
Q2 2024	5,781.00	0.07	+17.7%	View
Q1 2024	5,406.00	-0.17	+22.0%	View
Q4 2023	5,396.00	-0.04	+40.6%	View

Carnival Corporation plc (CCL) Q1 2024 Earnings Report

Earnings Highlights

Carnival Corporation plc (CCL) Q1 2024 Results: Record Revenues and Strategic Growth Initiatives

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

Carnival Corporation plc (CCL) Q1 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue

Gross Profit

Operating Income

Net Income

EPS

Revenue Trend

Margin Analysis

Key Insights

Financial Highlights

Income Statement

Key Financial Ratios

Net Income vs. Revenue

Expense Breakdown

Management Commentary

Forward Guidance

Competitive Position

Gross Profit Margin

Operating Profit Margin

Return on Equity

P/E Ratio Comparison

Investment Outlook

Key Investment Factors

Growth Potential

Profitability Risk

Financial Position

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Historical Earnings Comparison

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