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Carnival Corp Shs Paired with 1 sh of beneficial interest from P&O Princess - Stock Quote CCL

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Morningstar's Carnival Corp Shs Paired with 1 sh of beneficial interest from P&O Princess Stock Analysis

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Consumer Appetite to Travel Should Benefit Occupancy for No-Moat Carnival

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 at 2021 fiscal year-end. The global cruise market has historically been underpenetrated, offering cruise companies a long-term demand opportunity. Additionally, in recent years, 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 has the potential to spark longer-term secular shifts in consumer behavior, challenging the economic performance of Carnival over an extended horizon.

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Carnival Corp Shs Paired with 1 sh of beneficial interest from P&O Princess's Company Profile

Business Description

Carnival is the largest global cruise company, with 91 ships in its fleet at the end of fiscal 2021, with all of its capacity set to be redeployed in 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.

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

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