Carnival: Fiscal Q4 Earnings Snapshot

December 21, 2022 GMT

MIAMI (AP) _ Carnival Corp. (CCL) on Wednesday reported a loss of $1.6 billion in its fiscal fourth quarter.

On a per-share basis, the Miami-based company said it had a loss of $1.27. Losses, adjusted for asset impairment costs and non-recurring costs, came to 85 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 89 cents per share.

The cruise operator posted revenue of $3.84 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $3.96 billion.

For the year, the company reported that its loss narrowed to $6.09 billion, or $5.16 per share. Revenue was reported as $12.17 billion.

Carnival shares have fallen 60% since the beginning of the year, while the S&P’s 500 index has decreased 20%. The stock has dropped 57% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCL at https://www.zacks.com/ap/CCL