Carnival Earnings: CCL Stock Sinks on Disappointing Outlook

The Carnival earnings report for the fourth quarter of the year includes some bad news for 2019.

Carnival Earnings: CCL Stock Sinks on Disappointing Outlook
Source: Via Carnival

The bad news in the Carnival (NYSE:CCL) earnings report has to do with its net revenue yields for 2019. The company says that it is only expecting net revenue yields for the year to increase by 1% when compared to 2018.

Carnival also notes that it is expecting earnings per share for the fiscal full year of 2019 to range from $4.50 to $4.80. Wall Street is looking for earnings per share of $4.70 for the year, which gives the company a shot at beating estimates.

What isn’t good news in the Carnival earnings report is its earnings per share estimate for the first quarter of 2019. The company says that it expects earnings per share for the period to come in between 40 cents and 44 cents. This will have it missing analysts’ earnings per share estimate of 45 cents for the quarter.

The Carnival earnings report for the fourth quarter of 2018 also includes earnings per share of 70 cents. This is up from its earnings per share of 63 cents from the same time last year. It also matches Wall Street’s earnings per share estimate for the period.

Revenue in the Carnival earnings report for the fourth quarter of the year came in at $4.46 billion. This is an increase over the company’s revenue of $4.46 billion reported in the fourth quarter of 2017. It also comes in above analysts’ revenue estimate of $4.44 billion for the quarter.

CCL stock was down 9% as of noon Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/12/carnival-earnings-outlook-hit-ccl-stock/.

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