Carnival Corporation is scheduled to report fiscal third-quarter results on Tuesday, Sept. 29, with its shares trading near 52-week lows. The Zacks Consensus Estimate calls for Carnival to post Q3 EPS of $1.36, down roughly 5% year over year, even as quarterly revenue is projected to rise over 2% to $8.36 billion, with higher costs and Middle East-related disruptions to European and Mediterranean itineraries weighing on results. Carnival has exceeded earnings expectations for 15 consecutive quarters, posting an average EPS surprise of 18.15% in its last four quarterly reports, and has beaten top-line estimates in three of the last four quarters with an average sales surprise of 0.45%. At around $22 a share, CCL trades at 10X forward earnings, roughly on par with Norwegian Cruise Line and slightly below Royal Caribbean's 13X and the Zacks Leisure and Recreation Services Industry average of 17X, while Carnival's full-year EPS is projected to be down 2% to $2.20 per share. Carnival stock currently carries a Zacks Rank #3 (Hold).
Carnival CorporationCarnival is set to report Q3 earnings with EPS seen down ~5% YoY on higher costs and Middle East itinerary disruptions, though it has a long beat streak and trades near 52-week lows at 10X forward earnings.
Norwegian Cruise Line Holdings Ltd
Royal Caribbean Cruises Ltd