The Carnival cruise ship Sunrise is seen docked at Miami Port, in Miami, Florida, U.S., June 18, 2022.
Still, its shares fell about 4.7% as Carnival forecast an unfavorable net impact of $130 million in the fourth quarter from higher fuel prices and unfavorable currency exchange rates.
Unlike other major cruise operators, Carnival does not hedge against volatility in oil prices.
Carnival posted third-quarter profit of $1.07 billion, or 79 cents per share, compared with a loss of $770 million, or 65 cents per share, a year earlier.
Its quarterly revenue of $6.9 billion beat estimates of $6.69 billion, according to LSEG data, and also hit a record high.
Persons:
Marco Bello, David Bernstein, Alex Brignall, Carnival, Juveria Tabassum, Devika
Organizations:
Miami Port, Cruise, Cruise Lines, Royal, Thomson
Locations:
Miami , Florida, U.S, Royal Caribbean, Atlantic