FX.co ★ Carnival Corporation & plc Q1 Loss Decreases, beats estimates

Carnival Corporation & plc (CCL) recently unveiled a decrease in losses for the first quarter, as compared to the same timeframe last year. This performance exceeded the expectations of Wall Street.

For this period, Carnival reported losses of $214 million, translating to a loss of $0.17 per share. This figure paints a better picture than the previous year's first quarter, where losses amounted to $693 million or $0.55 per share.

After eliminating exceptional factors, Carnival's adjusted losses stood at $180 million, or $0.14 per share for the same duration. In comparison to predictions gathered by Thomson Reuters, analysts had collectively expected the company to register a loss of $0.18 per share. It is important to note that these estimates typically do not incorporate special items.

The quarter saw the Carnival's revenue surge by 22.0%, increasing from last year's figure of $4.432 billion to reach $5.406 billion.

A closer look at Carnival's earnings for the quarter under review, following the General Accepted Accounting Principles (GAAP), reveals the following:

-Earnings for Q1: -$214 million, denoting a significant improvement from the loss of $693 million reported in the same period last year.

- Earnings per share for Q1: -$0.17, marking a drastic drop from last year's -$0.55.

- Q1 Revenue: posted a notable growth from $4.432 billion last year to $5.406 billion.

Looking forward, the corporation has guided that the Earnings Per Share (EPS) for the next quarter would hover around -$0.03. For the full year, Carnival projects an EPS of approximately $0.98.