Cruise ship company Carnival (NYSE: CCL) will be reporting earnings this Friday morning. Here’s what to expect.

Carnival beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $8.15 billion, up 3.3% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ passenger cruise days estimates. It reported 27.5 million passenger cruise days, down 2.1% year on year.

Is Carnival a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Carnival’s revenue to grow 7.3% year on year to $6.37 billion, slowing from the 10% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 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.

With Carnival being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for consumer discretionary stocks. However, there has been positive investor sentiment in the segment, with share prices up 8.7% on average over the last month. Carnival is up 9.3% during the same time and is heading into earnings with an average analyst price target of $35.24 (compared to the current share price of $28.12).

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