27th Mar 2015 13:37
PANAMA (Alliance News) - Carnival Corporation & PLC on Friday saw its shares rise in afternoon trade after it said it swung to profit in the first quarter despite lower revenue.
Shares in the company were up 4.6% to 3,163.00 pence early afternoon, the best performer in the FTSE 100.
reported first-quarter net income of USD49 million or USD0.06 per share, compared to a loss of USD20 million or USD0.03 per share, prior year. Adjusted net income was USD159 million or USD0.20 per share, for the quarter.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of USD0.10 for the quarter. Analysts' estimates typically exclude special items.
Revenue decreased to USD3.53 billion from USD3.59 billion last year. Analysts expected revenue of USD3.57 billion for the quarter. On a constant dollar basis, net revenue yields (net revenue per available lower berth day) increased 2.0% for the quarter.
The company said, cumulative advance bookings for the remainder of 2015 are ahead of the prior year at higher prices. Since January, booking volumes for the remainder of the year are running in line with last year's historically high levels at higher prices, Carnival said.
Carnival forecasts full year 2015 non-GAAP earnings per share to be in the range of USD2.30 to USD2.50. The company expects full year 2015 net revenue yields to increase 3 to 4% on a constant currency basis. Analysts expect the company to report full year 2015 earnings per share of USD2.50.
Carnival expects non-GAAP earnings for the second quarter 2015 to be in the range of USD0.11 to USD0.15 per share. Constant dollar net revenue yields are expected to increase 2 to 3% compared to the prior year. Analysts expect the company to report second-quarter earnings per share of USD0.26.
Copyright RTT News/dpa-AFX
Related Shares:
Carnival