Cruise ship company Carnival (NYSE: CCL) will be reporting earnings this Monday before the bell. Here’s what you need to know.
Carnival beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $6.33 billion, up 9.5% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates. It reported 25.3 million passenger cruise days, up 4.1% year on year.
Is Carnival a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Carnival’s revenue to grow 2.7% year on year to $8.11 billion, slowing from the 15.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.32 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carnival has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Carnival’s peers in the consumer discretionary segment, only Scholastic has reported results so far. It missed analysts’ revenue estimates by 5.6%, posting year-on-year sales declines of 4.9%. The stock was down 12.4% on the results.
Read our full analysis of Scholastic’s earnings results here.Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Carnival is down 3.9% during the same time and is heading into earnings with an average analyst price target of $34.73 (compared to the current share price of $30.65).
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