The 10-second takeaway
For the quarter ended Nov. 30 (Q4), Carnival beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Gross margins grew, operating margins shrank, net margins dropped.
Carnival notched revenue of $3.58 billion. The 11 analysts polled by S&P Capital IQ expected revenue of $3.48 billion on the same basis. GAAP reported sales were 3.2% lower than the prior-year quarter's $3.70 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.13. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.12 per share. GAAP EPS of $0.12 for Q4 were 56% lower than the prior-year quarter's $0.27 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.1%, 980 basis points better than the prior-year quarter. Operating margin was 4.9%, 420 basis points worse than the prior-year quarter. Net margin was 2.6%, 330 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.57 billion. On the bottom line, the average EPS estimate is $0.05.
Next year's average estimate for revenue is $16.20 billion. The average EPS estimate is $2.40.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carnival is outperform, with an average price target of $40.41.
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