Carnival Corp. (CCL) Tops Q4 EPS by 12c

Carnival Corp. (NYSE: CCL) reported Q4 EPS of $0.63, $0.12 better than the analyst estimate of $0.51. Revenue for the quarter came in at $4.26 billion versus the consensus estimate of $4.15 billion.

Key information for the fourth quarter 2017 compared to the prior year:

• U.S. GAAP net income for 4Q 2017 of $546 million, or $0.76 diluted EPS, compared to $609 million or $0.83 diluted EPS, for the prior year. On an adjusted basis, 4Q 2017 net income of $452 million, or $0.63 EPS, compared to net income of $491 million, or $0.67 EPS, for the prior year. Adjusted net income excludes unrealized gains and losses on fuel derivatives and other net charges, totaling $94 million in net gains for 4Q 2017 and $118 million of net gains for 4Q 2016.
• Gross revenue yields (revenue per available lower berth day or \"ALBD\") increased 6.8 percent. In constant currency, net revenue yields increased 4.2 percent for 4Q 2017, better than September guidance of up 1.5 to 2.5 percent.
• Gross cruise costs including fuel per ALBD increased 9.7 percent. In constant currency, net cruise costs excluding fuel per ALBD increased 6.1 percent, in line with September guidance of up 6.0 to 7.0 percent.
• Changes in fuel prices (including realized fuel derivatives) and currency exchange rates decreased earnings by $0.03 per share.
• Voyage disruptions due to hurricanes reduced fourth quarter earnings by approximately $0.11 per share.

For earnings history and earnings-related data on Carnival Corp. (CCL) click here.

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