Carnival Earnings: Here’s Why the Stock is Up Now
Carnival Corporation (NYSE:CCL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.11%.
Carnival Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 55% to $0.09 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 25.12% to $3.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Carnival Corporation reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.06. It missed the average revenue estimate of $3.55 billion.
Quoting Management: Carnival Corporation & plc Chairman and CEO Micky Arison noted, “Our 90,000 global team members are dedicated to delivering an outstanding vacation experience to 10 million guests each year. The level of quality, variety and innovation available throughout our fleet has never been greater and our guests are reaping the benefits of truly exceptional vacation values. We are working to more broadly communicate that message through stepped up consumer and trade marketing efforts, as well as strengthened engagement of our travel agent partners. We believe these initiatives, combined with slower supply growth, will lead to increased yields.”
Key Stats (on next page)…