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Carnival (CCL) Stock News, Sep-Oct 2022

CCL NYSE

Carnival Corporation Ltd. reports news about a global cruise operator with a portfolio that includes AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn. Coverage commonly includes brand itinerary releases, ship and fleet investments, destination programs in regions such as Alaska, Europe and the Caribbean, and workforce or maritime-training initiatives tied to cruise operations.

Company updates also cover capital returns, operating performance announcements and governance changes. In 2026, Carnival completed the unification of its former dual listed company structure and redomiciled to Bermuda, with common shares listed on the New York Stock Exchange under CCL.

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Carnival Corporation & plc announced a successful upsizing of its private offering, pricing $2.03 billion of 10.375% Senior Priority Notes due 2028. The initial offering was increased from $1.25 billion due to strong demand. Proceeds will be used to repay revolving credit facility amounts. The Notes will pay interest semi-annually starting May 1, 2023, and are callable from May 1, 2025. The offering is expected to close on October 25, 2022.

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Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced the commencement of a private offering of $1.25 billion Senior Priority Notes due 2028. These notes will be guaranteed by Carnival Corporation and its subsidiaries, with 12 unencumbered vessels contributed to the Issuer. Proceeds from the offering will be used for debt principal payments and corporate purposes. The offering targets qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S, without registration under the Securities Act.

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Holland America Line will host the Alaska Cruise and Travel Show on November 5, 2022, in Phoenix, Arizona. This free event showcases Alaska's attractions, allowing attendees to engage in activities like gold panning and axe throwing. Guests can win one of seven Alaska cruises and enjoy promotional offers including up to $350 spending credit for cruise bookings made at the show. The brand aims to leverage its 75 years of Alaska exploration expertise to connect with local travelers.

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Carnival Corporation reported a third quarter 2022 net loss of $770 million and an adjusted net loss of $688 million. Despite this, the company achieved an adjusted EBITDA exceeding $300 million, marking its first positive quarter since returning to operations. Revenue surged by nearly 80% compared to the previous quarter, and occupancy rose 15 percentage points. Booking volumes significantly outpaced 2019 levels following relaxed protocols. The company ended the quarter with $7.4 billion in liquidity, bolstered by a $1.15 billion equity offering.

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Cunard has announced a performance of The Best Exotic Marigold Hotel aboard the Queen Mary 2 from December 15-22, 2022. This production features stars like Hayley Mills, Paul Nicholas, and Rula Lenska and includes three performances in the ship's Royal Court Theatre. The show is based on the best-selling novel and explores the adventures of British retirees in India. Cunard has been an operator of luxury cruises since 1840 and is known for delivering exceptional onboard experiences.

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FAQ

What is the current stock price of Carnival (CCL)?

Carnival (CCL) last closed at $25.9.

What is the market cap of Carnival (CCL)?

The market cap of Carnival (CCL) is approximately $34.8B.