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Business
Kritika Sarmah

Is Carnival Stock a Buy, Sell or Hold Right Now?

Carnival CCL Kritika SarmahHer Supply chain

Despite the boost in bookings in the third quarter ended August 31, leading cruise company Carnival Corporation & plc (CCL) missed its Wall Street EPS and revenue estimates. While analysts expected a loss per share of $0.14, the company reported a loss per share of $0.58. Its revenue missed the consensus estimates by 12.7%.

Given the seasonality of the business, the company expects a net loss and breakeven to slightly negative adjusted EBITDA for the fourth quarter ended November 30, 2022. Moreover, amid lingering supply chain issues, CCL’s Carnival Cruise Line announced it is postponing the inaugural voyage of Carnival Jubilee because of shipyard delays.

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