Stock Story -
Cruise ship company Carnival (NYSE:CCL) will be reporting earnings tomorrow before the bell. Here's what to look for.
Carnival met analysts' revenue expectations last quarter, reporting revenues of $5.41 billion, up 22% year on year. It was a mixed quarter for the company: While the key volume metric of passenger cruise days unfortunately missed, Carnival still beat analysts' revenue expectations.
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This quarter, analysts are expecting Carnival's revenue to grow 15.5% year on year to $5.67 billion, slowing from the 105% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.02 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
With Carnival being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for consumer discretionary stocks.
