Carnival Corp. (NYSE:CCL) early Tuesday posted better than expected first quarter earnings results and lifted its full-year outlook, as higher bookings and lower fuel prices bolster its bottom line.
Written by StockNews.com
The Miami-based cruise line operator reported adjusted Q1 earnings per share (EPS) of $0.38, which was $0.03 better than the Wall Street consensus estimate of $0.35.
Revenues rose 3.8% from last year to $3.79 billion, also topping analysts’ view for $3.78 billion.
Looking ahead, CCL forecast Q3 EPS of $0.43 to $0.47, in-line with analysts’ estimate of $0.46. For the full year, Carnival expects 2017 EPS ranging from $3.50 to $3.70, up from a prior outlook of $3.30 to $3.60. Analysts are looking for $3.61 per share for the year.
The company commented on its latest results via press release:
“We are off to a good start delivering another quarter of operational improvement on top of a very strong first quarter last year. Our performance was driven by increased demand, particularly for our core Caribbean itineraries, leading to higher year-over-year ticket prices which enabled us to overcome the significant negative impact of both fuel and currency to exceed the high end of our guidance range.”
...Year-to-date, CCL has gained 14.08%, versus a 4.41% rise in the benchmark S&P 500 index during the same period.
CCL currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 5 stocks in the Travel – Cruises category.
.webp)
Comments
Log in or sign up to join the conversation.