Carnival Corp. Shares Resurface Following Q4 Earnings Results

Shares of Carnival Corp. (CCL) were on the rise in the premarket after the company posted robust fourth quarter earnings.

The company announced adjusted earnings of 63 cents per share on $4.26 billion in revenues while analyst were looking for 51 cents per share on $4.15 billion in revenue. This is great news for investors especially considering the disruptions from all the hurricanes this season.

Carnival did post guidance on the lower end of the spectrum which didn’t seem to bother investors as shares were sharply up in the premarket.

CCL Technicals

Shares of CCL were active following the earnings release with premarket highs hitting 68.52 before pulling back and opening the day at $67.35. We’ll want to watch the $69 and $70 levels for resistance while support will come in at $67 and $66.35.

CEO Comments

Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted, “We exceeded the high end of our original full year 2017 guidance by $0.22 per share, achieving record cash from operations of $5.3 billion and another adjusted earnings per share record despite a significant drag from fuel and currency. Our full year performance was led by over 4.5 percent growth in ticket prices while overcoming a variety of headwinds, affirming that our core strategy, which is anchored in delivering exceptional guest experiences, driving demand through marketing programs to increase cruise consideration, and introducing new more efficient ships through measured capacity growth all while leveraging our scale, can deliver consistent earnings improvements.”