Carnival Lifts 2017 Adj. EPS View - Quick Facts

(RTTNews) - Carnival Corporation & plc (CUK, CCL, CCL.L) said that it expects full year 2017 adjusted earnings per share to be in the range of $3.60 to $3.70 compared to March guidance of $3.50 to $3.70 and 2016 adjusted earnings per share of $3.45. Analysts polled by Thomson Reuters expect the company to report earnings of $3.73 per share for fiscal year 2017. Analysts' estimates typically exclude special items.

The company expects full year 2017 net revenue yields in constant currency to be up about 3.5 percent compared to the prior year, better than March guidance of up about 3 percent. The company expects full year net cruise costs excluding fuel per ALBD in constant currency to be up approximately 1.5 percent compared to March guidance of up approximately 1 percent. Changes in fuel prices (including realized fuel derivatives) and currency exchange rates compared to the prior year are expected to decrease earnings by $0.35 per share.

Third quarter constant currency net revenue yields are expected to be up approximately 4 percent compared to the prior year. Net cruise costs excluding fuel per ALBD in constant currency for the third quarter of 2017 are expected to be in line with the prior year. Changes in fuel prices, including realized fuel derivatives, and currency exchange rates compared to the prior year are expected to decrease earnings by $0.05 per share.

The company expects adjusted earnings per share for the third quarter 2017 to be in the range of $2.16 to $2.20 versus 2016 adjusted earnings per share of $1.92. Analysts project third-quarter earnings of $2.14 per share.