Nucor earnings beat by $0.08, revenue fell short of estimates
MIAMI – Carnival Corporation (LON:CCL) & plc announced the results of its Annual Meetings held on April 16, where shareholders approved all board nominations and other proposals. The dual-listed company, which operates under two separate legal entities, Carnival Corporation and Carnival (NYSE:CCL) plc, held its shareholder meeting earlier this week.
During the Annual Meetings, shareholders of both entities voted on the election of directors and a series of proposals outlined by the Boards of Directors. Votes were cast for nearly one billion shares, affirming the election of all nominees to the board. Micky Arison, chairman of Carnival Corp., was re-elected with a significant majority, alongside other board members including Sir Jonathon Band, Jason Glen Cahilly, and Helen Deeble.
Shareholders also passed a non-binding advisory vote to approve executive compensation and the Carnival plc Directors’ Remuneration Report, excluding the section containing the Remuneration Policy. The policy itself was subsequently approved in a separate vote. Deloitte LLP was appointed as the independent auditor for Carnival plc, and the selection of Deloitte & Touche LLP for Carnival Corporation was ratified.
Further, the authority for the allotment of new shares by Carnival plc was approved, as well as the disapplication of pre-emption rights in relation to the allotment of new shares and sale of treasury shares. An amendment to the Carnival Corporation 1993 Employee Stock Purchase Plan was also approved.
These decisions come at a crucial time for the company, which operates in the competitive water transportation industry. With annual revenue of $25.4 billion and a P/E ratio of 11.2, the company has demonstrated strong financial performance. The approval of these items indicates shareholder confidence in the direction of the company’s governance and strategic financial management. InvestingPro analysis reveals 8 additional key insights about Carnival’s performance and prospects, available to subscribers.
The information provided in this article is based on a statement from the SEC filing. With analyst price targets ranging from $14 to $34 per share, investors seeking deeper insights can access Carnival’s comprehensive Pro Research Report, one of 1,400+ detailed company analyses available on InvestingPro.
In other recent news, Carnival Corporation reported a record-breaking first quarter for 2025, with revenue reaching $5.8 billion, a 7.47% increase from the previous year. Ticket revenue rose by 5.5% year-over-year, while onboard and other revenues increased by 11.1%. This strong performance led S&P Global Ratings to upgrade Carnival’s credit rating to ’BB+’ due to improved credit metrics and refinancing activities that are expected to reduce annual interest costs. Tigress Financial Partners raised its price target for Carnival to $32, citing strong demand and robust booking volumes for 2025 and beyond. BNP Paribas (OTC:BNPQY) Exane initiated coverage on Carnival with an Outperform rating and a $26 price target, highlighting the potential revenue boost from the upcoming launch of Celebration Key in 2025. Morgan Stanley (NYSE:MS) adjusted its rating on Carnival from Underweight to Equalweight, although it lowered the price target to $21, reflecting a reassessment of the risk-reward balance. Stifel also raised its price target for Carnival to $31, maintaining a Buy rating and expressing confidence in the company’s ability to withstand market uncertainties. Carnival’s strategic moves, including debt reduction and fleet expansion, are seen as positive developments, positioning the company for future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.