Business
Why Carnival could be a buy after stormy seas – The Australian Financial Review
The cruise line giant has gone from “floating petri dish” to investor opportunity, writes Greg Smith of Fat Prophets.
The company had the wind in its sails before COVID-19 and was inexpansion mode.
In 2019, it recorded full-year revenues of US$20.8 billion, with adjusted full-year net income of $3 billion, the highest full-year earnings in the companys history for the fourth straight year.
To say Carnival entered stormy seas as a result of the pandemic would be an understatement.
The cruise ship industry effectively went into lockdown, with mostcountries turning liners away. Carnival effectively stopped sailing…
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