OceanFirst Bank’s Post

As 2027 approaches, Southwest Airlines and JetBlue Airways are facing significant challenges from activist investors. Southwest's plan to achieve USD4 billion in cumulative EBIT is under scrutiny from Elliott, which is pushing for executive changes. Can the airline execute its strategy amid this pressure? In contrast, JetBlue, backed by Carl Icahn, aims for USD800-900 million in EBIT uplift by 2027 through network redeployments and new lounges. Icahn's involvement is less confrontational, allowing JetBlue to focus on its turnaround. With both airlines navigating investor dynamics, what changes lie ahead in 2025? 🔐Read the full analysis: https://bit.ly/48ctT7U

#CarnivalCorporation has announced its financial results for the second quarter of 2024, reflecting robust growth and a positive outlook for the upcoming quarters. Key highlights include: • #NetIncome improved by nearly $500 million compared to 2023, with #AdjustedNetIncome outperforming March guidance by $170 million. • Record second quarter #OperatingIncome of $560 million and #Revenues of $5.8 billion. • Raised full-year 2024 #NetYield guidance to approximately 10.25% on continued strong demand. • #CumulativeBookedPosition for the remainder of 2024 and 2025 is at an all-time high in both #Price and #Occupancy. • Total #CustomerDeposits reached a record $8.3 billion. CEO Josh Weinstein stated, “Our exceptional results and revised guidance reflect our successful strategies and the strength of our global team. We are well on our way to achieving our 2026 #SEAChange targets.” Looking ahead, Carnival expects #NetYields to increase by 10.25% for the full year 2024, with #AdjustedEBITDA projected at approximately $5.83 billion. Strategically, Carnival will integrate #POCruisesAustralia into #CarnivalCruiseLine by March 2025, enhancing operational efficiencies and guest capacity. On the financial front, the company has prepaid $1.6 billion of debt and repriced $2.75 billion of senior secured term loans, simplifying its #CapitalStructure and reducing net interest expense. Other notable achievements include the installation of #SpaceX’s #Starlink across the fleet, record bookings for #Cunard’s #QueenAnne , and the rollout of #OneOcean environmental compliance software. #CarnivalCorporation #FinancialResults #CruiseIndustry #Q22024 #Bookings #CruiseTourism #DebtManagement #Sustainability #GrowthStrategy #CarnivalMaritime

Today, Connor Parks and I downgraded Carnival's secured and unsecured HY bonds to Market Perform purely on a relative value basis - CCL's and the industry's fundamentals are healthy and there is a lot for credit investors to like (continued de-leveraging, >$2bn of FCF, expanding margins). Having resumed coverage of the cruise industry in mid-2020 as capital structures became distressed (and secured), the cruise industry's credit trade over the last few years has been exceptionally strong and exciting to observe. At this point, the major operators are settling into 'BB'/'BBB' category credit profiles (though some smaller issuers remain ''B category) and equity narratives are likely to take over going forward. Please reach out if you'd like to discuss or request access to the report. BB: cmansfield17@bloomberg.net Email: colin.mansfield@cbre.com #cruise #highyield #credit #leisure #carnival

🚀 Success story: Crédit Agricole Provence Côte d'Azur focuses on their people with 365Talents 🚀 With 2,800 employees, Crédit Agricole Provence Côte d'Azur puts their people at the heart of its transformation strategy. The company enables its teams to become actors in their own professional development and is already experiencing impressive results: ✅ 90% of employees have an active profile on the platform ✅ 91% consider the tool useful for their career plans ✅ Over 1,000 skills are already integrated ✅ 6,480 job descriptions consulted in just 6 months By making use of 365Talents as part of a collaborative and participative approach, Credit Agricole Provence Cote d'Azur is proving its commitment to developing internal talent, offering every employee the opportunity to personalize their career path. Well done to Credit Agricole Provence Cote d'Azur for this success, and thank you for trusting 365Talents in this human and digital adventure! 👏 Would you like to know more about this exciting story? Find the link to the case study in 1st comment! 👇 Crescent Pascal Christophe MOUQUAND Laurent PANIZZA

"Southwest Airlines plans drastic boarding and seating changes The struggling airline is facing massive pressure to make major changes from an activist investor." I'm not sure anyone has ever pulled off the reduced-the-guest-experience-in-favor-of-fees-for-wall-street with long-term success but, here we go. They're get the short term stock bump from the new revenue, the activist investor gets what he wants and moves on to the next target, and they get hooked on the fees. And long term, their brand reputation still slides. I'm sure this is all still an outcome of the Christmas 2022 meltdown - I wonder if the Air Tran merger didn't help here or if these are long-term issues that just continue to grow. I've always had a neutral relationship with Southwest but it's hard to imagine a $231 million loss spurs them to make changes that improve my thoughts on them. https://lnkd.in/edS9uUJe #letsmakeplans #themedentertainment #travelandtourism #airlines #southwest

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What's New to TheStreet... ✈️ JetBlue Downgraded by ‘Big Three’ Ratings Agencies ✈️ JetBlue faces ratings downgrades after announcing plans to issue $400 million in convertible senior notes to repay existing bonds. 📉💼 How do you think this will impact JetBlue’s future? Share your thoughts below!👇🏻✨ 👉🏻Follow New To The Street for more! #jetblue #airlineindustry #ratingsdowngrade #financenews #innovation #businessnews #business #news #newtothestreet

What's New to TheStreet... ✈️ JetBlue Downgraded by ‘Big Three’ Ratings Agencies ✈️ JetBlue faces ratings downgrades after announcing plans to issue $400 million in convertible senior notes to repay existing bonds. 📉💼 How do you think this will impact JetBlue’s future? Share your thoughts below!👇🏻✨ 👉🏻Follow New To The Street for more! #jetblue #airlineindustry #ratingsdowngrade #financenews #innovation #businessnews #business #news #newtothestreet

Hearing about what didn't go so well and the learnings from that come from that can be so much more valuable than hearing about success. Thrilled to be invited to the Natwest Enterprise Event this week to hear from Griff Holland, who, if you're based in Bristol, you may recognise as the co-founder of much-loved pre-pandemic chain Friska, and more recently Double Puc and Zedible (https://zedible.io/). Some key learnings shared ⬇️ 1. Keep an eye on your north star and what you're trying to create 2. Work hard and apply yourself but don't work all the time. Marginal gains from late night working don't actually make that much difference in most businesses. 3. Success often comes from simplification 4. Appreciate what you have achieved 5. Something can be amazing but from a business perspective, if it doesn't sell, it's not that amazing. 6. Don't over focus on the competition. Making your offer too broad could be a bigger risk than keeping 7. Always keen a focus on the bottom line