Things are looking up for Carnival Cruise Line (the largest cruise line in the world) as the company reported its Q3 2021 earnings today. 🛳️ 🌊
While Carnival posted an adjusted net loss of over $2 billion, cruises for the quarter were cash flow positive. ✅ Carnival expects that to continue, and while the cruise line floats back to its pre-COVID greatness, the company is sitting on more than $7.8 billion of liquidity.
But wait, there’s more. Carnival also reported that “cumulative advanced bookings for the second half of 2022 are ahead of a very strong 2019.” In other words, Carnival’s second half of 2022 has “historically high [booking numbers],” an indication that the company is getting into calmer waters.
Carnival’s success shows “more good is yet to come” for cruise companies and the greater travel industry. Airlines, cruise lines, and rental car companies have all seen a steady stream of positive news and upgrades from analysts in the last few months as the pandemic’s core effects have waned. 🤞
In Carnival’s own earnings press release today, the company did not disclose EPS figures (probably because they suck.) Carnival trades on two tickers: $CCL and $CUK. Both traded above 3% today.