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Headquartered in Miami, FL, Carnival Corporation (CCL - Free Report) operates as a cruise and vacation company. Notably, Carnival’s cruise ships offer various itineraries to passengers under leading cruise brands through its four primary segments — North America cruise brands, EAA cruise brands, Cruise Support and Tour and Other.
Carnival has adopted a strategy to grow beyond its familiar itineraries and capitalize on Asian opportunities. Moreover, strong marketing initiatives have been helping the company to keep its booking strong over the past few years at most of its itineraries, thereby resulting in improvement in revenue yields. Also, consistent efforts to reduce fuel consumption have aided the company to generate profits.
However, negative currency translation, macroeconomic issues like geopolitical uncertainties and the Chinese slowdown, as well as increased marketing expenses remain potent headwinds.
Investors should note that the consensus estimate for CCL has moved slightly upwards over the last 60 days. Meanwhile, CCL’s earnings have been strong over the past few quarters. In fact, the company’s earnings surpassed the Zacks Consensus Estimate in all of the last four quarters, with an average beat of 17.14%. Revenues also posted positive surprises in all of the trailing four quarters.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CCL beats on earnings. Our consensus earnings estimate called for earnings per share of 35 cents, and the company reported earnings of 38 cents per share. Investors should note that these figures take out stock option expenses.
Revenues: CCL reported revenues of nearly $3.79 billion. This was in-line with our consensus estimate.
Key Stats to Note: On a constant dollar basis, net revenue yields (net revenue per available lower berth day) increased 3.8% in first-quarter fiscal 2017, which topped the company's December guidance of increase in the band of 1.5-2.5%.
Stock Price Impact: At the time of writing, the stock price of Carnival was up 1.6% during pre-market trading hours following the earnings release.
Check back later for our full write up on this CCL earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Carnival (CCL) Tops Q1 Earnings, Revenues In-Line
Headquartered in Miami, FL, Carnival Corporation (CCL - Free Report) operates as a cruise and vacation company. Notably, Carnival’s cruise ships offer various itineraries to passengers under leading cruise brands through its four primary segments — North America cruise brands, EAA cruise brands, Cruise Support and Tour and Other.
Carnival has adopted a strategy to grow beyond its familiar itineraries and capitalize on Asian opportunities. Moreover, strong marketing initiatives have been helping the company to keep its booking strong over the past few years at most of its itineraries, thereby resulting in improvement in revenue yields. Also, consistent efforts to reduce fuel consumption have aided the company to generate profits.
However, negative currency translation, macroeconomic issues like geopolitical uncertainties and the Chinese slowdown, as well as increased marketing expenses remain potent headwinds.
Investors should note that the consensus estimate for CCL has moved slightly upwards over the last 60 days. Meanwhile, CCL’s earnings have been strong over the past few quarters. In fact, the company’s earnings surpassed the Zacks Consensus Estimate in all of the last four quarters, with an average beat of 17.14%. Revenues also posted positive surprises in all of the trailing four quarters.
Carnival Corporation Price and EPS Surprise
Carnival Corporation Price and EPS Surprise | Carnival Corporation Quote
CCL currently has a Zacks Rank #3 (Hold) but that could change following Carnival’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CCL beats on earnings. Our consensus earnings estimate called for earnings per share of 35 cents, and the company reported earnings of 38 cents per share. Investors should note that these figures take out stock option expenses.
Revenues: CCL reported revenues of nearly $3.79 billion. This was in-line with our consensus estimate.
Key Stats to Note: On a constant dollar basis, net revenue yields (net revenue per available lower berth day) increased 3.8% in first-quarter fiscal 2017, which topped the company's December guidance of increase in the band of 1.5-2.5%.
Stock Price Impact: At the time of writing, the stock price of Carnival was up 1.6% during pre-market trading hours following the earnings release.
Check back later for our full write up on this CCL earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>