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Carnival Corp (CCL) Cautious Earnings Guidance Sends Cruise Stocks Lower

CCL – Fuel costs and currency exchange rates have prompted the company to adjust expectations.


Carnival Corp (NYSE:CCL) expects rising fuel costs to impact its financial performance moving forward, and the company has lowered its guidance as a result. The market has responded by dragging down shares of Carnival and others in the industry. 

Marketwatch has the details on Carnival’s guidance.

CRUISE COSTS: Carnival said that gross cruise costs including fuel per available lower berth day increased 8.2% during the quarter. In constant currency, the company’s net cruise costs excluding fuel per available lower berth day increased 3.6%, beating March guidance of 4% to 5%.

LOWERED GUIDANCE: Carnival lowered its guidance for the year, forecasting adjusted earnings of $4.15 to $4.25 a share, compared to last quarter’s estimates of $4.20 to $4.40 a share. For the third quarter, Carnival expects changing fuel prices and currency exchange rates to decrease earnings by 6 cents a share compared to the prior year.

The reduced guidance stole the thunder from the release of the company’s second quarter financial results. Carnival reported revenue of $4.36 billion, which is up 10.4 percent over the previous year, and adjusted earnings per share of 68 cents.

For the same period last year, Carnival reported adjusted EPS of 52 cents.

Carnival Corp shares were trading at $58.81 per share on Monday afternoon, down $4.72 (-7.43%). Year-to-date, CCL has declined -10.12%, versus a 1.75% rise in the benchmark S&P 500 index during the same period.

CCL currently has a StockNews.com POWR Rating of B (Buy), and is ranked #2 of 5 stocks in the Travel – Cruises category.

CCL at a Glance

CCL Current POWR Rating™
Overall POWR Rating™
CCL Current Price $58.90 1.96%
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CCL Price Reaction

The day of this event (Jun. 25, 2018)
CCL Closing Price$58.07 7.85%
CCL Volume16,926,692
392.63% from avg
Leading up to this event
CCL 1-mo return1.12%
After this event
CCL 1-day return6.31%
CCL 3-day return11.14%
CCL 5-day return11.16%

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