logo
  Join        Login             Stock Quote

Carnival (CCL) Retreats After 2013 Guidance Lags Estimates

 December 20, 2012 10:11 AM
 


(By Balachander) Carnival Corp. (NYSE: CCL) shares retreated 4.30 percent in early trade on Thursday after the cruise company guided 2013 below consensus following lower earnings and revenue for the fourth quarter.

On a non-GAAP basis, earnings per share (EPS) more than halved to 13 cents from 28 cents, yet beat Wall Street expectations of 11 cents.

GAAP earnings dropped 57 percent to $93 million.

Revenue fell 3.2 percent to $3.58 billion, versus consensus estimate of a decline of 4.2 percent for the fourth quarter.

"Stronger than expected revenue yields combined with lower than expected fuel costs more than offset higher than anticipated operating costs," said CEO Micky Arison.

[Related -Carnival Corporation (NYSE:CCL): Visible Signs Of Recovery Bodes Well For The Stock]

Net revenue yields fell 4.5 percent on a constant dollar basis, but better than the company's forecast of a drop of 5 percent to 6 percent.

Looking ahead for the first quarter of 2013 , CCL sees non-GAAP EPS between $0.03 and $0.07, while analysts' expect $0.04 a share. The company earned $0.02 per share in the first quarter of 2012. It forecasts constant dollar net revenue yields to fall 2 percent to 3 percent.

For the full year 2013, the company expects non-GAAP EPS in the range of $2.20 to $2.40, trailing market expectations $2.49 per share. It forecasts net revenue yields, on a constant dollar basis, to rise 1 percent to 2 percent.

CCL shares have been trading between $29.15 and $39.95 over the past year.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.