Subtext

Carnival Corporation & plc CCL

SectorConsumer Discretionary
Transcripts67
Date range2007-09-20 – 2025-03-21
Calls charted67

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-22-11+0+11+222007 Q32010 Q12012 Q32014 Q42017 Q12019 Q22022 Q12024 Q22007 Q3 · Overall: +1.82007 Q4 · Overall: +4.62008 Q1 · Overall: -1.62008 Q2 · Overall: +2.92008 Q3 · Overall: -5.62008 Q4 · Overall: -2.82009 Q2 · Overall: +2.52009 Q3 · Overall: +1.22009 Q4 · Overall: +9.02010 Q1 · Overall: +3.62010 Q2 · Overall: -2.72010 Q4 · Overall: +1.82011 Q1 · Overall: -1.82011 Q2 · Overall: -0.32011 Q3 · Overall: +0.22011 Q4 · Overall: -2.72012 Q1 · Overall: -2.42012 Q2 · Overall: -1.92012 Q3 · Overall: -1.12012 Q4 · Overall: +3.52013 Q1 · Overall: -2.92013 Q2 · Overall: +10.42013 Q3 · Overall: +9.42013 Q4 · Overall: +4.22014 Q1 · Overall: +9.22014 Q2 · Overall: +16.52014 Q3 · Overall: +13.82014 Q4 · Overall: +13.32015 Q1 · Overall: +14.22015 Q2 · Overall: +12.82015 Q3 · Overall: +11.12015 Q4 · Overall: +12.52016 Q1 · Overall: +7.12016 Q2 · Overall: +9.92016 Q3 · Overall: +13.02016 Q4 · Overall: +12.92017 Q1 · Overall: +10.72017 Q2 · Overall: +11.62017 Q3 · Overall: +2.22017 Q4 · Overall: +11.22018 Q1 · Overall: +9.52018 Q2 · Overall: +8.82018 Q3 · Overall: +13.32018 Q4 · Overall: +2.02019 Q1 · Overall: +8.92019 Q2 · Overall: +0.72019 Q3 · Overall: +0.82019 Q4 · Overall: +1.12020 Q2 · Overall: +1.52020 Q4 · Overall: +6.02021 Q1 · Overall: +5.12021 Q2 · Overall: +9.32021 Q3 · Overall: +5.82021 Q4 · Overall: +15.52022 Q1 · Overall: +11.32022 Q2 · Overall: +16.22022 Q3 · Overall: +14.92022 Q4 · Overall: +11.92023 Q1 · Overall: +12.22023 Q2 · Overall: +17.22023 Q3 · Overall: +12.82023 Q4 · Overall: +17.92024 Q1 · Overall: +19.02024 Q2 · Overall: +15.22024 Q3 · Overall: +13.32024 Q4 · Overall: +17.52025 Q1 · Overall: +12.5
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-39-20+0+20+392007 Q32010 Q12012 Q32014 Q42017 Q12019 Q22022 Q12024 Q22007 Q3 · CEO: +6.92007 Q4 · CEO: +5.92008 Q1 · CEO: +2.02008 Q2 · CEO: +0.52008 Q3 · CEO: -8.92008 Q4 · CEO: -14.32009 Q2 · CEO: +2.42009 Q3 · CEO: +0.52009 Q4 · CEO: +12.32010 Q1 · CEO: +5.42010 Q2 · CEO: -6.32010 Q4 · CEO: -8.62011 Q1 · CEO: -1.92011 Q2 · CEO: -0.62011 Q3 · CEO: +5.82011 Q4 · CEO: -6.22012 Q1 · CEO: +5.12012 Q2 · CEO: +5.62012 Q3 · CEO: +5.22012 Q4 · CEO: -1.22013 Q1 · CEO: +2.52013 Q2 · CEO: +22.22013 Q3 · CEO: +33.02013 Q4 · CEO: +12.32014 Q2 · CEO: +22.62014 Q3 · CEO: +18.92014 Q4 · CEO: +24.82015 Q1 · CEO: +26.22015 Q2 · CEO: +10.22015 Q3 · CEO: +21.42015 Q4 · CEO: +11.12016 Q1 · CEO: +12.72016 Q2 · CEO: +20.92016 Q3 · CEO: +17.22016 Q4 · CEO: +18.02017 Q1 · CEO: +17.02017 Q2 · CEO: +18.02017 Q3 · CEO: +7.42017 Q4 · CEO: +19.22018 Q2 · CEO: +14.42018 Q3 · CEO: +17.72018 Q4 · CEO: +8.32019 Q1 · CEO: +17.72019 Q2 · CEO: +6.42019 Q3 · CEO: +11.52019 Q4 · CEO: +1.12020 Q2 · CEO: +1.52020 Q4 · CEO: +14.92021 Q1 · CEO: +6.02021 Q2 · CEO: +14.52021 Q3 · CEO: +11.02021 Q4 · CEO: +22.02022 Q1 · CEO: +16.92022 Q2 · CEO: +23.22023 Q4 · CEO: +23.82024 Q1 · CEO: +20.42024 Q2 · CEO: +17.32024 Q3 · CEO: +21.92024 Q4 · CEO: +21.32025 Q1 · CEO: +21.22007 Q3 · CFO: +9.62007 Q4 · CFO: +9.42008 Q1 · CFO: +2.92008 Q3 · CFO: -7.92008 Q4 · CFO: +1.32009 Q2 · CFO: +2.52009 Q3 · CFO: +4.62009 Q4 · CFO: +12.22010 Q1 · CFO: +1.42010 Q2 · CFO: +1.82010 Q4 · CFO: +4.52011 Q1 · CFO: +5.12011 Q2 · CFO: -0.72011 Q3 · CFO: +0.52011 Q4 · CFO: -5.22012 Q1 · CFO: -7.52012 Q2 · CFO: -0.62012 Q3 · CFO: -0.82012 Q4 · CFO: +0.52013 Q1 · CFO: -1.12013 Q2 · CFO: +2.62013 Q3 · CFO: -0.72013 Q4 · CFO: +6.42014 Q1 · CFO: +3.32014 Q2 · CFO: +20.02014 Q3 · CFO: +16.82014 Q4 · CFO: +10.22015 Q1 · CFO: +10.42015 Q2 · CFO: +13.02015 Q3 · CFO: +8.02015 Q4 · CFO: +16.02016 Q1 · CFO: +6.32016 Q2 · CFO: +8.42016 Q3 · CFO: +13.92016 Q4 · CFO: +4.92017 Q1 · CFO: +9.22017 Q2 · CFO: +6.22017 Q3 · CFO: +5.12017 Q4 · CFO: +5.92018 Q2 · CFO: +8.12018 Q3 · CFO: +14.82019 Q1 · CFO: +8.92019 Q2 · CFO: -0.52019 Q3 · CFO: -2.62020 Q4 · CFO: +4.42021 Q1 · CFO: +11.32021 Q2 · CFO: +16.22021 Q3 · CFO: +10.42021 Q4 · CFO: +15.32022 Q1 · CFO: +13.52022 Q2 · CFO: +15.02022 Q3 · CFO: +7.92022 Q4 · CFO: +10.12023 Q1 · CFO: +14.92023 Q2 · CFO: +13.22023 Q3 · CFO: +14.92023 Q4 · CFO: +17.92024 Q1 · CFO: +28.82024 Q2 · CFO: +34.32024 Q3 · CFO: +21.52024 Q4 · CFO: +27.52025 Q1 · CFO: +18.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-42-21+0+21+422007 Q32010 Q12012 Q32014 Q42017 Q12019 Q22022 Q12024 Q22007 Q3 · Prepared remarks: +3.92007 Q4 · Prepared remarks: +10.62008 Q1 · Prepared remarks: +0.62008 Q2 · Prepared remarks: +4.42008 Q3 · Prepared remarks: -1.92008 Q4 · Prepared remarks: +2.22009 Q2 · Prepared remarks: +2.42009 Q3 · Prepared remarks: +1.62009 Q4 · Prepared remarks: +9.52010 Q1 · Prepared remarks: +6.42010 Q2 · Prepared remarks: +8.82010 Q4 · Prepared remarks: +7.72011 Q1 · Prepared remarks: -4.72011 Q2 · Prepared remarks: +1.52011 Q3 · Prepared remarks: -0.42011 Q4 · Prepared remarks: +0.72012 Q1 · Prepared remarks: -6.92012 Q2 · Prepared remarks: +1.92012 Q3 · Prepared remarks: +5.02012 Q4 · Prepared remarks: +8.42013 Q1 · Prepared remarks: -5.62013 Q2 · Prepared remarks: +12.92013 Q3 · Prepared remarks: +15.82013 Q4 · Prepared remarks: +22.22014 Q1 · Prepared remarks: +26.52014 Q2 · Prepared remarks: +27.32014 Q3 · Prepared remarks: +27.62014 Q4 · Prepared remarks: +27.82015 Q1 · Prepared remarks: +30.82015 Q2 · Prepared remarks: +7.32015 Q3 · Prepared remarks: +23.42015 Q4 · Prepared remarks: +18.42016 Q1 · Prepared remarks: +24.92016 Q2 · Prepared remarks: +18.32016 Q3 · Prepared remarks: +17.62016 Q4 · Prepared remarks: +19.82017 Q1 · Prepared remarks: +31.22017 Q2 · Prepared remarks: +25.62017 Q3 · Prepared remarks: +16.72017 Q4 · Prepared remarks: +19.82018 Q1 · Prepared remarks: +34.12018 Q2 · Prepared remarks: +18.62018 Q3 · Prepared remarks: +17.72018 Q4 · Prepared remarks: +15.32019 Q1 · Prepared remarks: +16.92019 Q2 · Prepared remarks: +7.72019 Q3 · Prepared remarks: +0.02019 Q4 · Prepared remarks: +1.12020 Q2 · Prepared remarks: +1.52020 Q4 · Prepared remarks: +18.92021 Q1 · Prepared remarks: +9.72021 Q2 · Prepared remarks: +19.72021 Q3 · Prepared remarks: +5.02021 Q4 · Prepared remarks: +29.12022 Q1 · Prepared remarks: +18.42022 Q2 · Prepared remarks: +23.82022 Q3 · Prepared remarks: +27.62022 Q4 · Prepared remarks: +18.92023 Q1 · Prepared remarks: +21.12023 Q2 · Prepared remarks: +23.92023 Q3 · Prepared remarks: +22.92023 Q4 · Prepared remarks: +26.12024 Q1 · Prepared remarks: +28.32024 Q2 · Prepared remarks: +36.82024 Q3 · Prepared remarks: +29.12024 Q4 · Prepared remarks: +32.42025 Q1 · Prepared remarks: +25.52007 Q3 · Q&A responses: +7.32007 Q4 · Q&A responses: +4.12008 Q1 · Q&A responses: +1.42008 Q2 · Q&A responses: +3.92008 Q3 · Q&A responses: -9.22008 Q4 · Q&A responses: -2.72009 Q2 · Q&A responses: +7.42009 Q3 · Q&A responses: +7.32009 Q4 · Q&A responses: +15.12010 Q1 · Q&A responses: +5.32010 Q2 · Q&A responses: -4.12010 Q4 · Q&A responses: +3.92011 Q1 · Q&A responses: +4.22011 Q2 · Q&A responses: +4.12011 Q3 · Q&A responses: +4.32011 Q4 · Q&A responses: -0.92012 Q1 · Q&A responses: +2.22012 Q2 · Q&A responses: +1.42012 Q3 · Q&A responses: +2.22012 Q4 · Q&A responses: +3.22013 Q1 · Q&A responses: +2.02013 Q2 · Q&A responses: +14.72013 Q3 · Q&A responses: +9.32013 Q4 · Q&A responses: -2.42014 Q1 · Q&A responses: +8.52014 Q2 · Q&A responses: +16.82014 Q3 · Q&A responses: +13.12014 Q4 · Q&A responses: +7.62015 Q1 · Q&A responses: +12.32015 Q2 · Q&A responses: +11.82015 Q3 · Q&A responses: +10.02015 Q4 · Q&A responses: +12.32016 Q1 · Q&A responses: +2.62016 Q2 · Q&A responses: +14.62016 Q3 · Q&A responses: +15.92016 Q4 · Q&A responses: +10.82017 Q1 · Q&A responses: +8.62017 Q2 · Q&A responses: +10.12017 Q3 · Q&A responses: -0.62017 Q4 · Q&A responses: +9.92018 Q1 · Q&A responses: +17.32018 Q2 · Q&A responses: +8.02018 Q3 · Q&A responses: +15.82018 Q4 · Q&A responses: +6.12019 Q1 · Q&A responses: +13.72019 Q2 · Q&A responses: +2.12019 Q3 · Q&A responses: +7.22020 Q4 · Q&A responses: +8.92021 Q1 · Q&A responses: +7.42021 Q2 · Q&A responses: +14.52021 Q3 · Q&A responses: +11.22021 Q4 · Q&A responses: +8.72022 Q1 · Q&A responses: +12.22022 Q2 · Q&A responses: +15.62022 Q3 · Q&A responses: +13.22022 Q4 · Q&A responses: +11.52023 Q1 · Q&A responses: +14.12023 Q2 · Q&A responses: +13.12023 Q3 · Q&A responses: +11.52023 Q4 · Q&A responses: +14.22024 Q1 · Q&A responses: +16.52024 Q2 · Q&A responses: +10.32024 Q3 · Q&A responses: +16.52024 Q4 · Q&A responses: +14.72025 Q1 · Q&A responses: +12.5
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-3.98$0.81$5.602007 Q32010 Q12012 Q32014 Q42017 Q12019 Q22022 Q12024 Q22014 Q1: $1.932014 Q2: $2.092014 Q3: $2.262014 Q4: $2.402015 Q1: $2.772015 Q2: $2.932015 Q3: $3.152015 Q4: $3.342016 Q1: $3.552016 Q2: $3.732016 Q3: $3.752016 Q4: $3.772017 Q1: $3.762017 Q2: $4.052017 Q3: $4.262017 Q4: $4.342018 Q1: $4.522018 Q2: $4.752018 Q3: $4.672018 Q4: $4.742019 Q1: $4.942019 Q2: $4.852019 Q3: $4.682019 Q4: $4.422020 Q2: $-1.812020 Q4: $-3.322021 Q1: $-2.832021 Q2: $-2.022021 Q3: $-0.732021 Q4: $-0.032022 Q1: $-0.132022 Q2: $-0.162022 Q3: $0.102022 Q4: $0.472023 Q1: $0.242023 Q2: $0.372023 Q3: $0.792023 Q4: $0.952024 Q1: $1.122024 Q2: $1.262024 Q3: $1.502024 Q4: $1.77

Forward P/E

0.9569.75138.542007 Q32010 Q12012 Q32014 Q42017 Q12019 Q22022 Q12024 Q22014 Q1: 20.402014 Q2: 18.452014 Q3: 17.602014 Q4: 18.562015 Q1: 16.872015 Q2: 16.242015 Q3: 16.802015 Q4: 15.612016 Q1: 13.772016 Q2: 12.682016 Q3: 12.342016 Q4: 13.922017 Q1: 15.242017 Q2: 16.002017 Q3: 16.072017 Q4: 15.062018 Q1: 14.832018 Q2: 13.432018 Q3: 14.192018 Q4: 11.602019 Q1: 11.352019 Q2: 10.902019 Q3: 10.442019 Q4: 10.542020 Q2: 129.052022 Q3: 107.492022 Q4: 19.142023 Q1: 36.382023 Q2: 42.452023 Q3: 19.132023 Q4: 19.182024 Q1: 14.822024 Q2: 12.652024 Q3: 12.242024 Q4: 15.20

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↓ -2.6 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q1 tone ↓ -5.3 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -9.4 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↑ +4.5 fwd EPS ↓ -0.09 Tone rose while the forward EPS estimate was cut.
  • 2018 Q4 tone ↓ -11.3 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↑ +4.5 fwd EPS ↓ -1.51 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -3.4 fwd EPS ↑ +1.30 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↑ +5.0 fwd EPS ↓ -0.03 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↓ -2.9 fwd EPS ↑ +0.37 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -4.3 fwd EPS ↑ +0.42 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -3.8 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-03-21+12.5——View →
2024 Q42024-12-20+17.5$1.7715.2View →
2024 Q32024-09-30+13.3$1.5012.2View →
2024 Q22024-06-25+15.2$1.2612.7View →
2024 Q12024-03-27+19.0$1.1214.8View →
2023 Q42023-12-21+17.9$0.9519.2View →
2023 Q32023-09-29+12.8$0.7919.1View →
2023 Q22023-06-26+17.2$0.3742.5View →