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Carnival (CCL) to Report Q2 Earnings: What's in the Cards?
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Carnival Corporation (CCL - Free Report) is scheduled to report second-quarter fiscal 2022 results on Jun 24. In the last reported quarter, the company delivered a negative earnings surprise of 34.2%.
Q2 Estimates
The Zacks Consensus Estimate for the fiscal second-quarter bottom line is pegged at a loss of $1.13 per share, compared with a loss of $1.80 reported in the year-ago quarter.
The consensus mark for revenues stands at $2.84 billion. In the prior-year quarter, the company had reported revenues of $50 million.
Factors to Note
Carnival’s fiscal second-quarter performance is likely to have benefited from the resumption of operations. In the first quarter of fiscal 2022, the company resumed cruise operations with 10 additional ships, which accounted for 60% of its fleet capacity (in guest cruise operations) compared with 47% reported in the previous quarter. As of Mar 22, 2022, the company had resumed operations at 75% of its fleet capacity. CCL intends to have its remaining fleet in operation by the 2022 summer season.
Encouraging booking volumes and book position might have contributed to the fiscal second-quarter performance. Earlier, the company stated that cumulative advance bookings for the second half of 2022 are at the lower end of the historical range, while cumulative advanced bookings for the first half of 2023 are at the higher end of historical ranges compared with 2019 levels.
However, cash burn may have weighed on the to-be-reported quarter’s performance. It anticipates phased resumption of cruise operations to have a material impact on all aspects of its business, including the company's liquidity, financial position and results of operations. This, in turn, may get reflected in the fiscal second-quarter results.
Our proven model doesn’t conclusively predict an earnings beat for Carnival this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Carnival has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +8.48% and a Zacks Rank #3.
Shares of Caesars Entertainment have slumped 62% in the past year. CZR’s earnings beat the consensus mark twice in the trailing four quarters and missed twice, the average negative surprise being 301.1%.
Live Nation Entertainment, Inc. (LYV - Free Report) has an Earnings ESP of +28.91% and a Zacks Rank #3.
Shares of Live Nation have decreased 7.5% in the past year. LYV’s earnings beat the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 72.9%.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +86.39% and a Zacks Rank #3.
Shares of MGM Resorts have declined 33.9% in the past year. MGM’s earnings topped the consensus mark in each of the trailing four quarters, the average surprise being 212.5%.
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Carnival (CCL) to Report Q2 Earnings: What's in the Cards?
Carnival Corporation (CCL - Free Report) is scheduled to report second-quarter fiscal 2022 results on Jun 24. In the last reported quarter, the company delivered a negative earnings surprise of 34.2%.
Q2 Estimates
The Zacks Consensus Estimate for the fiscal second-quarter bottom line is pegged at a loss of $1.13 per share, compared with a loss of $1.80 reported in the year-ago quarter.
The consensus mark for revenues stands at $2.84 billion. In the prior-year quarter, the company had reported revenues of $50 million.
Factors to Note
Carnival’s fiscal second-quarter performance is likely to have benefited from the resumption of operations. In the first quarter of fiscal 2022, the company resumed cruise operations with 10 additional ships, which accounted for 60% of its fleet capacity (in guest cruise operations) compared with 47% reported in the previous quarter. As of Mar 22, 2022, the company had resumed operations at 75% of its fleet capacity. CCL intends to have its remaining fleet in operation by the 2022 summer season.
Encouraging booking volumes and book position might have contributed to the fiscal second-quarter performance. Earlier, the company stated that cumulative advance bookings for the second half of 2022 are at the lower end of the historical range, while cumulative advanced bookings for the first half of 2023 are at the higher end of historical ranges compared with 2019 levels.
However, cash burn may have weighed on the to-be-reported quarter’s performance. It anticipates phased resumption of cruise operations to have a material impact on all aspects of its business, including the company's liquidity, financial position and results of operations. This, in turn, may get reflected in the fiscal second-quarter results.
Carnival Corporation Price and EPS Surprise
Carnival Corporation price-eps-surprise | Carnival Corporation Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Carnival this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Carnival has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +8.48% and a Zacks Rank #3.
Shares of Caesars Entertainment have slumped 62% in the past year. CZR’s earnings beat the consensus mark twice in the trailing four quarters and missed twice, the average negative surprise being 301.1%.
Live Nation Entertainment, Inc. (LYV - Free Report) has an Earnings ESP of +28.91% and a Zacks Rank #3.
Shares of Live Nation have decreased 7.5% in the past year. LYV’s earnings beat the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 72.9%.
MGM Resorts International (MGM - Free Report) has an Earnings ESP of +86.39% and a Zacks Rank #3.
Shares of MGM Resorts have declined 33.9% in the past year. MGM’s earnings topped the consensus mark in each of the trailing four quarters, the average surprise being 212.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.