News

Carnival extends losses at London opening on Caribbean woes

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 25 June 2014 25 June 2014

Shares in Carnival plc, the UK based holding company in Carnival Corp & plc group, extended losses on the London Stock Exchange on Wednesday morning after the dual listed Anglo-American company had on Tuesday warned of weakness in pricing in the Caribbean in the third quarter of its financial year.

Carnival plc fell about 2% in early London trading to £22.55. On Tuesday, they closed 1.6% lower at £22.76. In NewYork, Casrnival Corporation, the Panama domiciled and US based holding company fell 2.99% to close at $38.26

“Third quarter constant dollar net revenue yields are expected to be flat to down 1% compared to the prior year due primarily to a significant industry capacity increase in the Caribbean. Net cruise costs excluding fuel per ALBD for the third quarter are expected to be 1% to 2% higher on a constant dollar basis compared to the prior year,” the company said in a statement on Tuesday

“Based on the above factors, the company expects non-GAAP diluted earnings for the third quarter 2014 to be in the range of $1.38 to $1.44 per share versus 2013 non-GAAP earnings of $1.38 per share,” Carnival said.

Carnival shares fall in London and New York after interims

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 June 2014 24 June 2014

Shares in the two Carnival group holding companies fell on the stock markets in London and New York respectively after the company had published interim results for the second quarter of its financial year.

Carnival plc, the UK based and listed company, lost 1.56% to trade at £22.77 in late afternoon, local time. Shares in Carnival Corporation, the US listed and Panama domiciled company, saw its shares to fall 2.79% to trade at $38.31 in early morning, local time.

Both the FTSE100 leading share index in London and Dow Jones in New York had posted slight falls at the same time.

Carnival raises 2014 financial year non-GAAP EPS estimate to $1.60-$1.75

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 24 June 2014 24 June 2014

Carnival Corp & plc, the world’s largest cruise shipping group, says it has increased its full year 2014 non- GAAP diluted earnings per share guidance to be in the range of $1.60 to $1.75 from the $1.50 to $1.70 range it forecast in march.

The Anglo-American company said total revenues are expected to be higher for the full year 2014 compared to the prior year. The company continues to expect full year 2014 net revenue yields on a constant dollar basis to be down slightly compared to the prior year (flat to up slightly on a current dollar basis).

The company now expects full year 2014 net cruise costs excluding fuel per ALBD to be flat to up slightly compared to the prior year on a constant dollar basis, which is better than had been anticipated in the March guidance. However, changes in fuel prices and currency exchange rates have reduced full year 2014 forecasted earnings by $0.06 per share compared to March guidance.