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What happened
Actions of the cruise ship operator Carnival Corp. (NYSE: CCL) Thursday, after announcing earnings compared to the forecast of the third quarter and fiscal year. Some of the losses were recovered at noon and stocks fell 4.7% at 12:20 pm. EDT.
So what
Revenues rose 5.8% to 5.84 billion and exceeded estimates of 5.81 billion on Wall Street. Net income jumped 28.4% to $ 1.71 billion, or $ 2.41 a share. On an adjusted basis, which excludes one-time items, earnings were $ 2.36 per share, exceeding estimates of $ 0.04.
Source of the image: Getty Images.
These are really the tips that have thrown investors into a loop today. Management expects fourth quarter sales to be up 1.5% to 2.5% in constant currencies and earnings to be between $ 0.65 and $ 0.69 per share, which fell below the $ 0.73 expected by analysts. Higher fuel prices and exchange rate headwinds led to lower guidance than expected.
Now what
If you add the third and fourth quarters together, the results are pretty much in line with Wall Street expectations. So I do not see any reason to panic about Carnival Corp. Winds contrary to fuel and currency fluctuations are also not controlled by the company and will be volatile over time. Given Carnival's expected organic growth and strong profitability, the market now appears to be a buying opportunity, as traders panic over short-term factors that may reoccur in the future. fuel or currencies develop.
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