Carnival Corp (NYSE:CCL) reported fourth-quarter FY21 revenues of $1.28 billion, against $34 million in Q4 FY20.
- The operating expenses rose 89.7% at $3.1 billion. The operating loss expanded to $(1.89) billion from $(1.64) billion a year earlier.
- Revenue per passenger cruise day for the cruise segments increased 4% compared to 2019.
- Occupancy in the fourth quarter of 2021 was 58%, and the company's monthly average cash burn rate for the quarter was $510 million.
- EPS loss was $(2.31), compared to $(2.41) in Q4 FY20. Adjusted net loss widened to $(1.95) billion against $(1.86) billion in Q4 FY20.
- As of November 30, 2021, 61% of the company's capacity was operating with guests onboard, and it expects the full fleet to be back in operation in the spring of 2022.
- The company held $9.1 billion in cash and equivalents as of November 30, 2021.
- "Our cash from operations turned positive in the month of November, and we expect consistently positive cash flow beginning in the second quarter of 2022 as additional ships resume guest cruise operations," said CEO Arnold Donald.
- Price Action: CCL shares are trading higher by 3.91% at $19.00 on Monday's last check.
