Carnival : Solid 2018 results but 2019 forecast disappointing in terms of yield growth
>2018 results slightly better than expected - Carnival has published solid 2018 results that were a shade higher than expected. EPS was $Â 4.26, in line with the consensus at $Â 4.25 (guidance of $Â 4.21-$Â 4.25) despite the forex variation and the increase in fuel prices which had an impact of $Â 0.13 on Q4 EPS. Yields grew 3.7% (vs +3.6% est. and guidance for +3.5%) and cruise costs excluding fuel were up 1.6% (vs the consensus and guidance at +1.5%).Disappo...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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