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Carnival raises 2018 EPS guidance to $4.20 to $4.40 range 

Carnival Corporation & plc, the Anglo-American cruise shipping group, said it expects full financial year to 30 November 2018 adjusted earnings per share to be in the range of $4.20 to $4.40 compared to December guidance of $4.00 to $4.30 and 2017 adjusted earnings per share of $3.82.

“At this time, cumulative advanced bookings for the remainder of 2018 are in line with the prior year at higher prices. Since January, booking volumes for all future periods have been running ahead of prior year at higher prices,” the company said in a statement.

President and Chief Executive Officer Arnold Donald said: “ "The booking strength achieved during this year's wave season, outpacing even last year's record levels, demonstrates sustained strong demand for our world's leading cruise brands and delivers further confidence in our raised earnings guidance.”

“We remain on track to achieve double-digit return on invested capital while continuing to return cash to shareholders through ongoing share repurchases and dividend growth,” he stated.

Based on current booking trends, the company expects full year 2018 net revenue yields in constant currency to be up approximately 2.5% compared to the prior year, in line with December guidance. The company expects full year net cruise costs excluding fuel per ALBD in constant currency compared to the prior year to be up approximately 1.0%, also in line with December guidance. Changes in fuel prices (including realized fuel derivatives) and currency exchange rates are expected to increase earnings by 0.10 per share compared to December guidance.

Second quarter constant currency net revenue yields are expected to be up approximately 2.5% to 3.5% compared to the prior year.

Net cruise costs excluding fuel per ALBD in constant currency for the second quarter of 2018 are expected to increase by approximately 4.0% to 5.0% compared to the prior year. Based on the above factors, the company expects adjusted earnings per share for the second quarter 2018 to be in the range of $0.56 to $0.60 versus 2017 adjusted earnings per share of $0.52.

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