Cruise operator Carnival beats Street on boost from ticket prices

Earnings


Petty Officer 2nd Class Jonathan Klingenberg | U.S. Coast Guard | Reuters

Two Carnival cruise ships dock at a cruise terminal in the aftermath of Tropical Storm Harvey in Galveston, Texas, in this September 1, 2017 photo.

Carnival, the world’s largest cruise operator, reported better-than-expected quarterly results on Tuesday as higher ticket prices helped offset a hit from hurricanes.

Shares of the company, which owns the Queen Mary II and Queen Elizabeth cruisers through its Cunard line, were up 3 percent at $68.50 in early trading.

The company’s net income fell 10.3 percent to $546 million, or 76 cents per share, in the fourth quarter ended Nov. 30, hurt by an 11-cent hit from hurricanes in the Caribbean.

However, the company earned 63 cents per share, excluding items. Analysts on average had expected a profit of 51 cents, according to Thomson Reuters I/B/E/S.

Net revenue yields, a keenly watched metric that measures spending per available berth, climbed 6.5 percent on a constant currency basis.

Revenue increased 8.2 percent to $4.26 billion, above analysts’ average estimate of $4.15 billion.

The company also forecast 2018 adjusted earnings per share of $4.00 to $4.30, largely below analysts’ estimate of $4.29



Source link

Products You May Like

Articles You May Like

Debt ceiling is the next big Congress fight after shutdown debate
The 10 most expensive cars that just sold at auction
Trump considers big ‘fine’ over China intellectual property theft
Lowe’s to rocket 20% with ‘radically more positive’ outlook after tax cuts: Bernstein
Johnson & Johnson gives 2018 guidance

Leave a Reply

Your email address will not be published. Required fields are marked *