Carnival Corp (NYSE: CCL)
Shares of Carnival Corp were on the rise in the premarket after the company posted robust fourth quarter earnings.
The company announced adjusted earnings of 63 cents per share on $4.26 billion in revenues while analyst were looking for 51 cents per share on $4.15 billion in revenue. This is great news for investors especially considering the disruptions from all the hurricanes this season.
Carnival did post guidance on the lower end of the spectrum which didn’t seem to bother investors as shares were sharply up in the premarket.
Shares of $CCL were active following the earning release with premarket highs hitting 68.52 before pulling back and opening the day at $67.35. We’ll want to watch the $69 and $70 levels for resistance while support will come in at $67 and $66.35.
Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted, “We exceeded the high end of our original full year 2017 guidance by $0.22 per share, achieving record cash from operations of $5.3 billion and another adjusted earnings per share record despite a significant drag from fuel and currency. Our full year performance was led by over 4.5 percent growth in ticket prices while overcoming a variety of headwinds, affirming that our core strategy, which is anchored in delivering exceptional guest experiences, driving demand through marketing programs to increase cruise consideration, and introducing new more efficient ships through measured capacity growth all while leveraging our scale, can deliver consistent earnings improvements.”
Carnival Corp Profile
Carnival Corp. engages in the operation of luxury cruises ships. It operates through the following segments: North America, EAA, Cruise Support, and Tour and Other. The North America segment includes Carnival Cruise Line, Holland America Line, Princess, and Seabourn. The EAA segment comprises of AIDA, Costa, Cunard, P&O Cruises (Australia), P&O Cruises (UK).
The Cruise Support segment represents port and related facilities and other services that are provided for the benefit of its cruise brands. The Tour and Other segment comprises of hotel and transportation operations of Holland America Princess Alaska Tours. The company was founded in 1972 and is headquartered in Miami, FL. –MarketWatch