Cruise ship company Carnival (NYSE: CCL) will be reporting results this Tuesday before market hours. Here’s what investors should know.
Carnival met analysts’ revenue expectations last quarter, reporting revenues of $6.66 billion, up 5.3% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but full-year EBITDA guidance slightly missing analysts’ expectations. It reported 25.7 million passenger cruise days, up 1.6% 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, the market is expecting Carnival’s revenue to grow 2.4% year on year, in line with the 3.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Carnival has missed Wall Street’s revenue estimates multiple times 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, posting year-on-year sales declines of 3.9%. The stock was down 7.8% on the results.
Read our full analysis of Scholastic’s earnings results here.Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 6.8% on average over the last month. Carnival is down 6.7% during the same time and is heading into earnings with an average analyst price target of $33.99 (compared to the current share price of $22.29).
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