Carnival Corp. said it expects to post a wider-than-expected loss estimate for the fourth quarter ending Nov. 30. However, the cruise operator’s cash burn rate for the quarter was better than previously estimated. Carnival shares closed 1.6% lower on Monday. Carnival (CCL) said that it projects to incur an adjusted loss of $1.9 billion in 4Q, compared to analysts’ expectations of a loss of $1.6 billion, as cruise sailings are still being halted due to the resurgence in COVID-19 cases. Looking ahead, Carnival warned that the cruise operator expects to report losses in the first quarter and fiscal 2021 as well.
https://www.tipranks.com/news/carnival-expects-wider-than-feared-4q-loss-amid-sailings-halt-street-says-hold