Carnival Corporation (CCL)

Gross profit margin

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Gross profit	US$ in thousands	9,307,000	5,112,000	5,298,000	-5,313,000	-3,946,000
Revenue	US$ in thousands	24,945,000	19,429,000	10,558,000	1,908,000	4,236,000
Gross profit margin		37.31%	26.31%	50.18%	-278.46%	-93.15%

November 30, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $9,307,000K ÷ $24,945,000K
= 37.31%

Based on the provided data, the gross profit margin of Carnival Corporation has experienced significant fluctuations over the years. In November 2020, the gross profit margin was reported at a negative 93.15%, indicating that the company's cost of goods sold exceeded its revenue, resulting in a loss on the gross profit level.

The situation worsened in November 2021, with the gross profit margin deteriorating further to a negative 278.46%, indicating a substantial increase in costs relative to revenue. This suggests that Carnival Corporation faced significant challenges in managing its cost structure efficiently during this period.

However, there was a notable improvement in the gross profit margin in November 2022, reaching a positive 50.18%. This turnaround suggests that the company was able to enhance its revenue generation or reduce its costs, resulting in a healthier margin between sales and cost of goods sold.

In November 2023, the gross profit margin remained positive at 26.31%, indicating a continued positive trend in the company's ability to generate profits from its core operations.

By November 2024, Carnival Corporation further improved its gross profit margin to 37.31%, demonstrating sustained progress in managing its production and distribution costs relative to its revenue.

Overall, the fluctuations in Carnival Corporation's gross profit margin reflect changes in its operational efficiency and cost management strategies. It is essential for the company to continue monitoring and optimizing its cost structure to ensure sustainable profitability in the future.