Carnival Q1 results: ‘we’ve seen unbelievable strength in bookings’

Carnival Corp stock (NYSE: CCL) closed roughly flat on Tuesday even after the company blamed omicron as it reported weaker-than-expected results for its fiscal first quarter.

Important points in Carnival Q1 earnings report

• Narrowed quarterly loss from $1.97 billion to $1.89 billion.
• Per-share loss stood at $1.66 versus last year’s $1.80.
• Revenue jumped sharply from $26 million to $1.62 billion.
• Consensus was for $1.28 a share loss on $2.26 billion in revenue.
• Carnival values its liquidity at $7.20 billion as per the earnings press release.

Highlights from CEO Donald’s interview on CNBC’s ‘Closing Bell’

Commenting on how Carnival plans on dealing with higher fuel prices, CEO Arnold Donald said on CNBC’s “Closing Bell”:

About 75% of Carnival ships are sailing again as of march. According to the chief executive, booking have already started to pick up in recent week. Donald added:

The strength, he added, was evident across both North American and European brands. Carnival replaced itineraries to Eastern Europe due to the ongoing war, Donald revealed. He expects each of the company’s brand to have its full fleet back in 2023.