Carnival to Shareholders: Our Ships Can Weather Recessions
Investors have seen plenty of signs of stress on Carnival (NYSE: CCL) lately, which have culminated in two consecutive 2019 outlook downgrades by the cruise ship giant. Conditions haven't improved over the last few months. In fact, Carnival said this past week that a range of economic challenges in places ranging from the U.K. to the Arabian Gulf are pressuring growth for the industry and for Carnival in particular.
In a conference call with analysts, CEO Arnold Donald and his team said the company is making the necessary changes to respond to these issues, including moving ships out of underperforming regions to better utilize its fleet capacity. Still, Carnival is bracing for more headwinds continuing into 2020.
Let's look at management's key takeaways from the third-quarter results.
Source Fool.com
