Carnival Earnings: Here’s Why the Stock is Falling Now

Google+ | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Carnival Corporation (NYSE:CCL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 7.46%.

Carnival Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 9.8% to $1.38 in the quarter versus EPS of $1.53 in the year-earlier quarter.

Revenue: Rose 27.72% to $4.73 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Carnival Corporation reported adjusted EPS income of $1.38 per share. By that measure, the company beat the mean analyst estimate of $1.30. It beat the average revenue estimate of $4.65 billion.

Quoting Management: Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted that during the third quarter, the company made significant progress on a number of strategic initiatives to broaden its customer base, spur additional demand and mitigate environmental impacts and higher fuel costs. “Asia is a key focus of our international expansion. During the third quarter, we opened five additional sales offices in China, following the establishment of a corporate office in Singapore earlier this year,” said Donald. He added that Princess Cruises recently announced plans to homeport Sapphire Princess in China for a four-month season beginning in May 2014, bringing the total to five vessels in the region next year dedicated to guests sourced from Asia.

Key Stats (on next page)…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business