Carnival: Fiscal 4Q Earnings Snapshot
MIAMI (AP) _ Carnival Corp. (CCL) on Thursday reported fiscal fourth-quarter net income of $494 million.
On a per-share basis, the Miami-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring gains, were 70 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The cruise operator posted revenue of $4.46 billion in the period, matching Street forecasts.
For the year, the company reported profit of $3.15 billion, or $4.44 per share. Revenue was reported as $18.88 billion.
For the current quarter ending in March, Carnival expects its per-share earnings to range from 40 cents to 44 cents.
The company expects full-year earnings in the range of $4.50 to $4.80 per share.
Carnival shares have declined 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped 6 percent. The stock has fallen 19 percent in the last 12 months.