Demand environment remains strong for Carnival, but currency and fuel crimp 2017 earnings growth.
In one of the most recently resilient consumer discretionary categories, demand for travel remains robust, benefiting narrow-moat Carnival. With cumulative advance bookings for the first three quarters of 2017 “well ahead of the prior year--at considerably higher prices,†and heading into the wave season comfortably booked, we think the company could be guiding conservatively for the year ahead. Despite the fact that less than half of capacity is likely booked for 2017 at this time, we expect lo...Carnival is a leisure travel and cruise company. Co. operates over 100 cruise ships within a portfolio of global, regional and national cruise brands that sell tailored cruise products, services and vacation experiences. Co.'s North America cruise brands include Carnival Cruise Line, Princess Cruises, Holland America Line, and Seabourn. Co. also has a Cruise Support segment that represents its portfolio of port destinations and private islands, which are operated for the benefit of its cruise brands. In addition to its cruise operations, Co. owns Holland America Princess Alaska Tours, the tour company in Alaska and the Canadian Yukon, which complements Co.'s Alaska cruise operations.
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