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Carnival Cruise Lines Tumbles Midday on Weak Guidance

Published 03/26/2019, 11:39 AM
Updated 03/26/2019, 11:40 AM
© Reuters.

Investing.com - Cruise line company Carnival fell sharply in midday trading after the company issued weak profit guidance.

Carnival (NYSE:CCL) shares fell 8%, while the S&P 500 consumer discretionary sector rose 0.7%.

Reporting earnings before the bell, Carnival said it earned 49 cents per share in its fiscal first quarter on revenue of $4.67 billion. Both numbers topped analyst forecasts compiled by Investing.com.

But looking ahead to its fiscal second quarter, the company said it expects a profit of 56 to 60 cents per share, below current estimates of 73 cents per share according to S&P Capital IQ.

The cruise line blamed “(c)hanges in fuel prices and currency exchange rates” in its press release.

Latest comments

This is ok, but as consumers find out about the health risk of big ocean cruise from recent outbreaks of stomach virus,and from just the sheer amount of people on these big boats,and opting for smaller boat cruise with less people and more intimate experience,like Viking Cruises and Pearl Seas Cruises,just my thoughts
There have been no "recent outbreaks" of gastrointestinal illnesses on cruise ships. The risks of norovirus is no greater on a cruise ship than on land. Health officials track illness on cruise ships but not on land. So outbreaks are found and reported more quickly on a cruise ship than on land. You are probably more likely to become ill eating at your local Taco Bell than on a cruise ship.. . . Funny you say it's safer on a "smaller boat" such as Viking who just had their newest ship loose all power and had to have the complete compliment of passengers and crew rescued.
 The most recent norovirus outbreak I remember reading about was in January on the Oasis of the Seas. They had to skip their last two ports and head back to Port Canaveral early.
new clean feul standards, yes that's true along with the fact that carnival *******
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