Carnival up after earnings, revenue beats; guides Q3 EPS above consensus

|About: Carnival Corporation (CCL)|By:, SA News Editor

Carnival (NYSE:CCL) +0.8% premarket after posting better than expected Q2 earnings and revenues, and guiding Q3 earnings above consensus.

CCL says Q2 gross revenue yields, as measured by revenue per available lower berth day, rose 2.7% Y/Y; in constant currency, net revenue yields rose 5.1%, better than March guidance of a 2.5%-3.5% increase.

Gross cruise costs including fuel per ALBD rose 3.2%; in constant currency, net cruise costs excluding fuel per ALBD gained 1.5%, in-line with March guidance of a 1.5%-2.5% increase.

CCL issues upside guidance for Q3, seeing EPS of $2.16-$2.20 vs. $2.14 analyst consensus estimate.

For FY 2017, CCL sees EPS of $3.60-$3.70 vs. its prior outlook of $3.50-$3.70 and $3.71 consensus, with higher cumulative bookings for the next three quarters at prices that are well ahead of the prior year.

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