The company reported its earnings at $1.58 per share and $4.95 billion in revenue. Thomson Reuters has estimates of $1.44 in earnings per share and $4.93 billion in revenues. Carnival released guidance for the 2014 fiscal year. The company expects the earnings per share to be in the range of $1.84 to $1.88. The consensus estimates for the year are $1.75 in earnings per share and $15.98 billion in revenue.
Looking forward, Carnival CEO, Arnold Donald had mentioned that another way that Carnival was sustaining its revenues was by investing in technology. He had this to say:
Our implementation of the air emissions technology is a sound investment in our company’s future and more importantly it will benefit the environment for years to come. These technology investments are laying a solid foundation towards sustainable earnings improvement. Combined with our other strategic initiatives designed to foster revenue growth and contain costs, we are gaining momentum towards our goal of achieving double digit returns on investment over time.
The reaction that Carnival has received was positive in the first hour of trading, and it was trading up 1.5% to $40.95 after 45 minutes since the open. The company has a consensus price target of $42.75 and a 52-week trading range of $31.44 to $42.31. It has a market cap of roughly $31 billion.
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