Factors Setting The Tone For Carnival's (CCL) Q4 Earnings
Zacks Investment Research | Dec 16, 2019 10:19PM ET
Carnival Corporation (NYSE:CCL) is scheduled to report fourth-quarter fiscal 2019 results on Dec 20. In the last reported quarter, the company delivered a positive earnings surprise of 4%. Furthermore, it came up with average trailing four-quarter beat of 6.2%.
How Are Estimates Faring?
The Zacks Consensus Estimate for earnings in the fiscal fourth quarter is pegged at 51 cents. Earnings estimates have been revised a penny upward over the past 30 days. This indicates a 27.1% decrease from 70 cents registered in the year-ago quarter. Revenues are expected at $4,605 million, suggesting a 3.3% rise from the year-earlier reported figure.
Factors at Play
Carnival’s top line in the quarter is likely to have benefited from robust performances of the company’s Onboard and Other segment. The Zacks Consensus Estimate for the segmental revenues stands at $1,362 million, hinting at 16.4% growth from the prior-year reported figure. This upside is expected to have been driven by higher onboard spending by guests.
However, soft performance of Passenger Tickets business might have negatively impacted the company’s performance. The Zacks Consensus Estimate for the segment’s revenues is pegged at $3,188 million, implying a 1.5% dip from the year-ago reported figure.
Moreover, increase in net cruise costs might have been a persistent concern. During the fourth quarter of fiscal 2019, net cruise costs (excluding fuel) per ALBD are expected to have risen 4-4.5% from the prior-year quarter in constant currency. Moreover, adverse currency translation along with macroeconomic issues in key operating regions is likely to have been a potent headwind.
Carnival Corporation Price and EPS Surprise
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