Carnival Corporation (CCL Quick QuoteCCL - Free Report) reported first-quarter fiscal 2020 (ended Feb 29, 2020) results with earnings missing the Zacks Consensus Estimate while revenues beat.

 

In the quarter under review, it reported adjusted earnings of 22 cents per share, lagging the Zacks Consensus Estimate of 23 cents by 4.3%. The bottom line also declined 55.1% from 49 cents reported a year ago. 

 

The first quarter was negatively impacted by 23 cents per share due to coronavirus, which includes canceled voyages and other voyage disruptions. Other previously disclosed voyage disruptions, noted during the December 2019 earnings conference call, also impacted the quarterly results by 12 cents per share.

 

 

Carnival expects the COVID-19 impact to affect its operations and global bookings. The company also believes that this adversity on the shipyards where its ships are under construction will cause a delay in ship deliveries. 

 

Moreover, management at the company stated that cumulative advanced bookings for the remainder of 2020 as well as the first half of 2021 are meaningfully lower than the prior year on a comparable basis, reflecting the negative effect of COVID-19.

 

Given this unrelenting uncertainty, the company is currently unable to provide an earnings forecast. However, it expects a net loss on both U.S. GAAP and adjusted basis for the fiscal year ending Nov 30, 2020. 

 

 

Carnival currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

Some better-ranked stocks in the same space are Camping World Holdings Inc. (CWH Quick QuoteCWH - Free Report) , RCI Hospitality Holdings, Inc. (RICK Quick QuoteRICK - Free Report) and Twin River Worldwide Holdings, Inc. , each sporting a Zacks Rank #1.

 

2020 earnings for Camping World Holdings, RCI Hospitality and Twin River Worldwide Holdings are expected to rise 330.3%, 12.6% and 16.8%, respectively.

 

 

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

 

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.