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Cruise line operator Carnival (CCL) reported third-quarter earnings that exceeded analyst expectations on both revenue and profit. The company posted revenue of $7.90 billion, surpassing Wall Street estimates of $7.83 billion. Adjusted earnings per share came in at $1.27, beating the projected $1.16 a share.
Carnival Corporation & PLC CEO, President & Chief Climate Officer Josh Weinstein joins Asking for a Trend to discuss the company's outlook.
Weinstein describes the quarter as "phenomenal," with the company setting records in revenue and yields. Looking ahead to the fourth quarter, he expects "continued improvement" with year-over-year gains. "It's a pretty high bar that we are lapping and I think pretty nicely, so we feel real good," he told Yahoo Finance, noting that demand remains strong.
Weinstein highlights that bookings are robust, with North American brands at a record high. However, he emphasizes, "The goal is not simply to increase that curve for the sake of increasing it. It's really about getting that supply-demand balance across a two to two-and-a-half year period that these cruises are on sale for," he told Yahoo Finance.
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"Really the end goal is how that ship leaves and then comes back, how are we generating the maximum amount of revenue for that cruise," he added, noting the brand is a mix of "great experience and great value" for the customers.
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This post was written by Angel Smith