Carnival (CCL) Investors 'Dream' of 'Triumph' Into Q1 Results
Carnival Cruise (NYSE: CCL) is trading lower Thursday heading into the company's first-quarter 2013 results, expected out before markets open Friday.
The fiscal first-quarter period for Carnival runs from December through the end of February. That means the Trumph cruise ship event, which stalled off the coast of Mexico in February, will be included in the results. Carnival execs previously stated that the event would cost about eight to 10 cents per share.
The fun hasn't stopped for Carnival, though. Today, reports have come in that its Dream cruise ship was also experiencing problems, though those appear to be much less severe than the prior incident. Investors will be looking for more commentary on the event tomorrow.
Currently, the Street is looking for Carnival to report earnings of two cents per share on revenue of $3.56 billion. Numbers compare with EPS of two cents and revs of $2.58 billion posted in the same period last year. Generally, Carnival also sees sharper drop in earnings from FQ4 to FQ1.
Traders aren't taking too many precautions. According to the latest market data, short interest on Carnival rose 2.4 percent from the middle to end of February to 13.25 million shares, or 3.17 percent of total outstanding shares.
With heavier volume, Carnival is down just 0.2 percent after slumping about two percent earlier.
The fiscal first-quarter period for Carnival runs from December through the end of February. That means the Trumph cruise ship event, which stalled off the coast of Mexico in February, will be included in the results. Carnival execs previously stated that the event would cost about eight to 10 cents per share.
The fun hasn't stopped for Carnival, though. Today, reports have come in that its Dream cruise ship was also experiencing problems, though those appear to be much less severe than the prior incident. Investors will be looking for more commentary on the event tomorrow.
Currently, the Street is looking for Carnival to report earnings of two cents per share on revenue of $3.56 billion. Numbers compare with EPS of two cents and revs of $2.58 billion posted in the same period last year. Generally, Carnival also sees sharper drop in earnings from FQ4 to FQ1.
Traders aren't taking too many precautions. According to the latest market data, short interest on Carnival rose 2.4 percent from the middle to end of February to 13.25 million shares, or 3.17 percent of total outstanding shares.
With heavier volume, Carnival is down just 0.2 percent after slumping about two percent earlier.