Carnival Corporation Posts Lower Q4 Earnings, but Still Beats Estimates (CCL)

Carnival Corp (CCL) announced its Q4 and full-year earnings before the bell on Thursday, with quarterly earnings coming in much lower than the same period last year.

CCL Earnings in Brief

-Carnival Corp reported quarterly revenue of $3.658 billion, up slightly from last year’s Q4 figure of $3.579 billion.
-The company’s net income came in at $66 million, down substantially from $93 million.
-On a non-GAAP basis, net income came in at $35 million, or 4 cents per share, down from $111 million, or 14 cents per share.
-Carnival was able to beat analysts’ estimates of 0 cents EPS on revenues of $3.58 billion.
-For the full year, CCL reported revenue of $11.648 billion, which is down slightly from $11.658 billion last year. Non-GAAP EPS came in at $1.58, down from $1.94 in 2012.
-Looking forward to Q1 2014, CCL sees non-GAAP diluted losses in the range of 7 cents to 11 cents.

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CEO Commentary

Arnold Donald, the CEO of CCL, had the following comments on the company’s earnings: ”Accelerated progress in Carnival Cruise Lines’ brand recovery had a positive impact on fourth quarter results. A steady stream of innovative product initiatives, the launch of a nationwide marketing campaign and travel agent outreach program, as well as an industry-leading vacation guarantee fueled the brand’s improvement.”

No Dividend Change

CCL didn’t announce any changes to its quarterly dividend in its quarterly earnings report. The company reinstated its dividend in April 2013, and currently pays 25 cents quarterly. CCL made its last dividend payment December 13. Investors should look for CCL to declare its next dividend in the coming month.

Stock Performance

CCL stock was up $1.50, or 4%, in early morning trading. YTD, the company’s stock is down 1.04%.