Carnival stock sinks on weak summer profit forecast

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

Carnival Corporation reported record second-quarter revenue and adjusted net income but forecast third-quarter profit below analyst expectations, sending its stock down about 8% in early trading. Revenue reached $6.66 billion and adjusted net income hit $569 million for the quarter ended May 31, both second-quarter records, with adjusted earnings per share of $0.41 beating the $0.34 consensus estimate. However, third-quarter adjusted EPS guidance of roughly $1.35 fell short of the $1.42 consensus, and full-year adjusted EBITDA guidance was trimmed to approximately $7.11 billion from a prior target of $7.19 billion. CEO Josh Weinstein cited geopolitical pressures, particularly in the Mediterranean region, as a key headwind, while fuel costs rose nearly 30% to $793 per metric ton. Fellow cruise operators also declined, with Royal Caribbean dropping roughly 5% and Norwegian Cruise Line Holdings sliding around 2%.

Impact on stocks 3

Consumer Discretionary▼ · 3 stocks
Carnival Corporation
CCL
▼ NegativeDemandrelevance

Carnival forecast Q3 profit below expectations due to geopolitical pressures in the Mediterranean, a key demand headwind.

Norwegian Cruise Line Holdings Ltd
NCLH
▼ NegativeDemandrelevance

Norwegian Cruise Line shares fell about 2% as the sector declined on Carnival's weak forecast, indicating broader demand concerns.

Royal Caribbean Cruises Ltd
RCL
▼ NegativeDemandrelevance

Royal Caribbean shares dropped roughly 5% as the sector declined on Carnival's weak forecast, indicating broader demand concerns.

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