18th Dec 2015 14:26
PANAMA (Alliance News) - Carnival Corp released a profit for its fourth quarter that climbed from last year.
The company said its bottom line advanced to USD389 million, or USD0.50 per share. This was higher than USD208 million, or USD0.27 per share, in last year's fourth quarter.
Analysts had expected the company to earn USD0.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 0.3% to USD3.71 billion. This was down from USD3.72 billion last year.
"As we had anticipated, with less inventory remaining for sale, we have begun to sell at higher prices than the same time last year, particularly close to departure, affirming our expectation of continued yield improvement in 2016," Arnold Donald, president and chief executive, said.
"We have accelerated progress toward and remain well positioned to achieve our double digit return on invested capital threshold in the next two to three years. Over time, we expect to continue to return excess cash to shareholders as demonstrated by our recent 20 percent increase in quarterly dividends and more than USD400 million in share repurchases," Donald added.
Carnival Corp. earnings at a glance:
-Earnings (Q4): USD389 Mln. vs. USD208 Mln. last year. -Earnings Growth (Y-o-Y): 87.0% -EPS (Q4): USD0.50 vs. USD0.27 last year. -EPS Growth (Y-o-Y): 85.2% -Analysts Estimate: USD0.42 -Revenue (Q4): USD3.71 Bln vs. USD3.72 Bln last year. -Revenue Change (Y-o-Y): -0.3%
-Guidance: Next quarter EPS guidance: USD0.28 to USD0.32 Full year EPS guidance: USD3.10 to USD3.40
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