From CNBC:

Carnival Cruise Line announced it would reroute 12 ships away from the Red Sea due to escalating tensions in the region. Attacks by Iranian-backed Houthi Rebels have prompted shipping companies to divert routes, impacting shipping times and costs. President Biden’s airstrikes on the group have not stopped the attacks, heightening tensions. The rerouting is expected to impact Carnival’s adjusted earnings per share by 7 to 8 cents in 2024.

The company forecasts adjusted full-year earnings per share of 93 cents, with fiscal first-quarter 2024 earnings to be released in March. Other cruise companies, including Royal Caribbean and MSC Cruises, have also canceled trips in the Red Sea due to the conflicts. Carnival’s stock has risen over 50% in the past year, but remains nearly 70% off its pre-pandemic high.



Read more: Carnival reroutes cruises as Red Sea tensions rise