Carnival Corp. (NYSE: CCL) released its fiscal second-quarter financial results early on Monday. The company said that it had $0.68 in earnings per share (EPS) and $4.36 billion in revenue. That compared with consensus estimates of $0.60 in EPS on revenue of $4.32 billion. And in the same period of last year, Carnival said it had EPS of $0.52 and $3.94 billion in revenue.
During the quarter, gross revenue yields increased 8.8%. In constant currency, net revenue yields increased 4.8%, beating out March guidance that called for an increase of 2.5% to 3.5%.
At the same time, gross cruise costs including fuel per available lower berth day (ALBD) increased 8.2%. In constant currency, net cruise costs excluding fuel per ALBD increased 3.6%, an improvement from March guidance of up 4.0% to 5.0%, principally due to the timing of expenses between quarters.
Looking ahead to the fiscal third quarter, the company expects to see EPS in the range of $2.25 to $2.29 and net revenue yields to increase 1.5% to 2.5%. Consensus estimates call for $2.47 in EPS and $5.87 billion in revenue for the quarter.
Arnold Donald, Carnival’s president and CEO, commented:
We delivered another strong quarter, again achieving record adjusted earnings on record revenues and exceeding the high end of our guidance range. Strong operational execution drove a 30% increase in adjusted earnings affirming the strength of our core strategy to create demand that outpaces measured capacity growth through outstanding guest experience efforts coupled with innovative actions to increase consideration for cruising across all global markets.
Shares of Carnival were last seen down about 10% at $57.33, with a consensus analyst price target of $76.01 and a 52-week trading range of $57.35 to $72.70.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.