Carnival (NYSE:CCL) has reported its Q3 earnings per share (EPS) at $0.86, surpassing the Street estimate of $0.76. The company’s Q3 revenue also exceeded expectations, coming in at $6.85 billion, compared to the Street estimate of $6.7 billion. Despite the beat, the company’s shares dropped around 5% on Friday due to concerns related to fuel costs.
During the quarter, Carnival experienced strong demand, reflecting a robust consumer appetite for travel. Total customer deposits reached a record of $6.3 billion, and booking volumes remained significantly high, setting a new third-quarter record for total bookings.
In terms of the outlook for 2023, Carnival expects adjusted EBITDA to be in the range of $4.1 billion to $4.2 billion, with occupancy levels at 100%.