Carnival Posts Q2 Business Update, Loss Narrows, Bookings Rise - Carnival (NYSE:CCL)

Carnival Corp CCL has reported a second-quarter adjusted net loss of $2 billion, down 14.5% year-on-year.
Booking volumes for all future cruises during the second quarter of 2021 were 45% higher than booking volumes during the first quarter of 2021.
Total customer deposits as of May 31, 2021, and February 28, 2021 were $2.5 billion and $2.2 billion, respectively.
42 ships from eight of the company's nine brands either have resumed or are about to resume guest cruise operations by November 30, 2021, which is over 50% of the company's capacity.
Q2 ended with $9.3 billion of cash and short-term investments.
The company reduced future annual interest expense by over $120 million per year and expected it to increase near-term liquidity by $1.0 billion.
The monthly average cash burn rate for the first half of 2021 was $500 million.
Carnival sees a net loss on both a U.S. GAAP and adjusted basis for the third quarter of 2021 and full-year ending November 30, 2021, as the phased resumption of the guest cruise operations continues to have a material impact on all aspects of its business.
Price action: CCL shares are trading lower by 1.76% at $27.66 on the last check Thursday.