Carnival (NYSE: CCL) reported earnings on June 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended May 31 (Q2), Carnival met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Revenue details
Carnival recorded revenue of $3.54 billion. The 12 analysts polled by S&P Capital IQ looked for sales of $3.57 billion on the same basis. GAAP reported sales were 2.3% lower than the prior-year quarter's $3.62 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.20. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.08 per share. GAAP EPS of $0.02 for Q2 were 92% lower than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 30.0%, 40 basis points worse than the prior-year quarter. Operating margin was 3.1%, 460 basis points worse than the prior-year quarter. Net margin was 0.4%, 530 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $4.67 billion. On the bottom line, the average EPS estimate is $1.45.
Next year's average estimate for revenue is $15.32 billion. The average EPS estimate is $1.88.
Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carnival is outperform, with an average price target of $32.50.
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