Carnival Corporation Q1 Earnings Decline; Weak Outlook; Shares Fall (CCL)

Shares of Carnival Corporation (CCL) were down on Tuesday morning after the company reported lower earnings and a weak outlook.

CCL’s Earnings in Brief

CCL reported Non-GAAP earnings of $2 million, or $0.00 per share, compared to $67 million, or 8 cents per share a year ago. Analysts expected to see a loss of 8 cents per share. The company reported GAAP earnings of $37 million, or 5 cents per share. Revenue for the quarter was$3.6 billion, above analysts’ estimate of $3.51 billion. Looking ahead, CCL expects to see  Q2 earnings between a loss of 2 cents and earnings of 2 cents. Analysts expect to see earnings of 7 cents per share. For FY2014, the company expects to see earnings in the range of $1.50-$1.70 per share, while analysts expect $1.73 per share in earnings.

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CEO Commentary

CEO Arnold Donald commented: “We see progress with our continental European brands and continue to be pleased with Carnival Cruise Lines’ pace of improvement. Exciting product innovations and strategic marketing initiatives at Carnival Cruise Lines have driven strong close-in demand resulting in sequential improvement in year-over-year quarterly ticket prices for the brand.”

CCL’s Dividend

CCL paid its last 25 cent dividend on March 14. We expect the company to declare its next dividend in April.

Stock Performance 

Carnival Corporation shares were down $1.22, or 3%, during Tuesday morning trading.

CCL Dividend Snapshot

As of 10:30am on March 25, 2014

Click here to see the complete history of CCL dividends.