PANAMA (dpa-AFX) - (Adds Outlook)
Carnival Corporation & Plc (CCL) has guided its fourth-quarter earnings below analysts' forecast, but revised up annual profit outlook above Street view.
Josh Weinstein, CEO of Carnival, said: 'Strong demand enabled us to increase our full year yield guidance for the third time this year and we improved our cost guidance driving more revenue to the bottom line.'
For the fourth quarter, Carnival anticipates adjusted income of around $60 million or $0.05 per share, below analysts' estimate of $0.07 per share. Excluding items, the company guides EBITDA of around $1.14 billion, for the quarter.
For the full-year, the company now expects adjusted income of around $1.760 billion or $1.33 per share, better than prior outlook for approximately $1.55 billion or $1.18 per share. Analysts, on average, forecast the company to earn $1.21 per share, for the year.
Full-year annual adjusted EBITDA is now projected to be around $6 billion, compared with the previous guidance of approximately $5.83 billion.
Q3 results:
Carnival Corporation & plc (CCL) revealed earnings for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $1.735 billion, or $1.26 per share. This compares with $1.074 billion, or $0.79 per share, in last year's third quarter.
Excluding items, Carnival Corporation & plc reported adjusted earnings of $1.751 billion or $1.27 per share for the period.
Analysts on average had expected the company to earn $1.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 15.2% to $7.896 billion from $6.854 billion last year.
Carnival Corporation & plc earnings at a glance (GAAP) :
-Earnings (Q3): $1.735 Bln. vs. $1.074 Bln. last year. -EPS (Q3): $1.26 vs. $0.79 last year. -Revenue (Q3): $7.896 Bln vs. $6.854 Bln last year.
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