Here Are 3.5 Million Reasons Carnival Is Cruising Right Toward Management's Long-Term Goals
By multiple metrics, cruise company Carnival (NYSE: CCL)(NYSE: CUK) had a great year in its fiscal 2023 (ended in November). The company had all-time high revenue of $21.6 billion. And based on its current record bookings, fiscal 2024 is shaping up nicely as well.
However, I believe that there's an important Carnival metric that's been completely overlooked and underappreciated by investors: The company introduced 3.5 million people to cruises last year, and this might be the key to reaching management's financial goals, as I'll explain.
Carnival couldn't prevent taking a massive hit during the pandemic. The company wasn't allowed to sail, but it had high fixed costs nevertheless. Its long-term debt consequently skyrocketed from around $11 billion to over $35 billion in a matter of months.
Source Fool.com
Carnival plc Stock
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