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Cruise line sector reeling after soft Carnival outlook

Jun. 20, 2019 7:33 AM ETRCL, CCL, NCLHBy: Clark Schultz, SA News Editor23 Comments
  • Carnival (NYSE:CCL) falls sharply after dropping its full-year profit forecast to a range of $4.25 to $4.35 per share vs. $4.35 to $4.55 prior and $4.54 consensus. Q3 EPS of $2.50 to $2.54 is anticipated vs. $2.69 consensus.
  • The cruise line operator warned that pricing on bookings since March have been running below last year's pace. "Recent booking trends have been impacted by ongoing geopolitical and macroeconomic headwinds affecting our Continental European brands. We continue to expect higher yields in our North America and Australia brands offset by lower yields in our Europe and Asia brands for the remainder of the year," says Carnival CEO Arnold Donald.
  • Shares of Carnival are down 6.43% in premarket trading to $49.44. Norwegian Cruise Line Holdings (NYSE:NCLH) is off 4.21% and Royal Caribbean (NYSE:RCL) is 5.18% lower.

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