Carnival Corporation Posts Q4 Net Loss; Beats Estimates (CCL)

Before Friday’s opening bell, Carnival Corporation (CCL) released its fourth quarter earnings. The cruise ship company reported a net loss, but beat analysts’ expectations. 

CCL’s Earnings in Brief

CCL posted a net loss of $102, or 13 cents per share, compared to net income of $66 million, or 8 cents per share, a year ago. Adjusted earnings were $210 million, or 27 cents per share, up from $35 million, or 4 cents per share, last year. Revenue increased to $3.72 billion from $3.66 billion. On average, analysts expected to see adjusted earnings of 20 cents and $3.81 billion in revenue. Looking ahead, the company expects to see FY2015 non-GAAP earnings between $2.30 and $2.60 per share. Analysts expect to see EPS of $2.34.

CEO Commentary

Carnival Corporation & plc President and CEO Arnold Donald commented: “Full year earnings were significantly higher than the prior year primarily due to strong profit improvement at both our Carnival Cruise Lines and Costa Cruises brands. We enjoyed some early wins from our collaboration efforts that contributed to our improved results, particularly for onboard revenues. We worked hard to contain costs and achieved an almost five percent reduction in fuel consumption for the year as we continue to implement energy conservation measures. We also made a number of strategic decisions in fleet investments that will position us well for the future.”

CCL’s Dividend

CCL paid its last 25 cent dividend on November 21. We expect the company to declare its next dividend in January.

CCL Dividend Snapshot

As of market close on December 18, 2014

Click here to see the complete history of CCL dividends.

Carnival shares were down 37 cents, or 0.87%, during Friday morning trading. The stock is up 9.73% YTD.