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Carnival Corp CCL Stock Quote

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Morningstar‘s Stock Analysis CCL

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Carnival's Sails Yet to Catch Wind, but Appetite for Travel Should Provide Support

Jaime M. Katz, CFA Senior Equity Analyst

Business Strategy and Outlook

| Jaime M. Katz, CFA |

Carnival remains the largest company in the cruise industry, with nine global brands and 91 ships as of October 2022. The global cruise market has historically been underpenetrated, offering cruise companies a long-term demand opportunity. Additionally, in years prior to the pandemic, the repositioning and deployment of ships to faster-growing and under-represented regions like Asia-Pacific had helped balance the supply in high-capacity regions like the Caribbean and Mediterranean, aiding pricing. However, international travel has waned as a result of COVID-19, which could spark longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.

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Company Profile CCL

Business Description

Carnival is the largest global cruise company, with 91 ships in its fleet in October 2022, with eight of its nine brands set to be fully redeployed by the end of 2022. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted about 13 million guests in 2019, prior to COVID-19.

3655 N.W. 87th Avenue
Miami, FL, 33178-2428
T +1 305 599-2600
Industry Travel Services
Most Recent Earnings Aug 31, 2022
Fiscal Year End Nov 30, 2022
Employees 40,000

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