Carnival (NYSE:CCL) earnings for the cruise company’s fourth quarter of 2019 have CCL stock heading higher on Friday. This is thanks to its adjusted earnings per share of 62 cents, which is well above Wall Street’s estimate of 50 cents. Revenue of $4.8 billion also beats out analysts’ estimates of $4.6 billion for the quarter.
Now for a closer look at the most recent Carnival earnings report.
- Adjusted per-share earnings are down 11.43% from 70 cents in the same period of the year prior.
- Revenue for the quarter comes in 7.18% higher than the $4.46 billion from the fourth quarter of 2018.
- Operating income of $484 million is a 12.32% drop YoY from $552 million.
- The Carnival earnings report also includes a net income of $423 million.
- That’s a 14.37% decrease compared to the company’s net income of $494 million during the same time last year.
Arnold Donald, President and CEO of Carnival, has this to say about the CCL stock earnings.
“Exceeding our fourth quarter guidance enabled us to have strong full year earnings per share and another year of record adjusted earnings. We overcame a high number of unusual events compounded by a significant downturn in leisure travel demand for our large source markets in Continental Europe.”
The Carnival earnings report also includes CCL’s outlook for the full year of 2020. The company is expecting adjusted EPS to range from $4.30 to $4.60. That stacks up well next to Wall Street’s estimate of $4.39 for the period.
CCL stock was up 6.99% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
