Carnival Lowers Full-Year Profit Outlook
June 20 2019 - 7:49AM
Dow Jones News
By Kimberly Chin
Carnival Corp. (CCL) lowered its full-year earnings outlook on
Thursday citing less inventory remaining for sale this year
compared with last year.
Carnival said it now expects adjusted earnings to be in the
range of $4.25 to $4.35 a share, compared with its previous
forecast of $4.35 to $4.55 a share.
The company said it expects a negative effect of 8 cents to 10
cents a share from voyage disruptions related to technical issues
on its Carnival Vista cruise line. It also expects a negative
impact of 4 cents to 6 cents related to the U.S. government's
policy change on travel to Cuba.
The cruise line operator also said it expects to be negatively
impacted by lower net revenue yields in the latter half of the
year.
The company said advanced bookings for the rest of the year are
slightly ahead of last year with prices that are in line with the
year prior. Bookings into the full year 2020 are also ahead with
prices in line with 2019.
Shares of Carnival, had gained 7.2% for the year, were off 6.9%
in premarket trading.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
June 20, 2019 07:34 ET (11:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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