Carnival : Q3 results in line; but the guidance for 2019 and the 2020 outlook are disappointing, which lends weight to our negative stance on the stock
>Q3 results broadly in line with expectations - Carnival's Q3 results were broadly in line with expectations. EPS of $ 2.63 came in 4% ahead of consensus expectations and the company’s guidance. Yields (on constant currencies) showed a decline of 0.5%, in line with the group's target and cruise costs ex-fuel fell by 3.2%, beating the guidance (+0.5%/+1.5%). Full-year guidance downgraded further - Management has downgraded its full-year 2019 EPS outloo...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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