Carnival Corp. (CCL) — which operates cruise ship brands Holland America, Cunard and Carnival Cruise Lines — is looking better than last year this time. That’s a great sign for a product which doesn’t sell well during Great Recessions.
The Wall Street Journal reports:
North American brands were up more than 10% on that basis from weak 2009 levels. At its European brands, the revenue yields rose, 1% amid an 8% expansion in capacity.
Earnings: Increased to $1.3 billion ($1.62 a share) from $1.07 billion ($1.33 a share) a year ago.
Revenues: Increased 6.9% to $4.4 billion.
Notable Stats: “[B]ookings since June have been running ahead or a year earlier through mid-2011, with prices slightly higher. However, occupancies for the winter and spring seasons are currently down slightly from a year earlier.”
Disclosure: No positions in the stocks mentioned.