Carnival (NYSE: CCL) reported earnings on March 15. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Feb. 28 (Q1), Carnival met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded.

Margins expanded across the board.

Revenue details
Carnival booked revenue of $3.59 billion. The eight analysts polled by S&P Capital IQ wanted to see revenue of $3.63 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.08. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. Non-GAAP EPS of $0.08 for Q1 were 300% higher than the prior-year quarter's $0.02 per share. GAAP EPS were $0.05 for Q1 versus -$0.18 per share for the prior-year quarter.

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 28.6%, 290 basis points better than the prior-year quarter. Operating margin was 4.2%, 10 basis points better than the prior-year quarter. Net margin was 1.0%, 490 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $3.56 billion. On the bottom line, the average EPS estimate is $0.09.

Next year's average estimate for revenue is $15.61 billion. The average EPS estimate is $2.02.

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 $41.70.

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