Carnival Sails Smoothly Into Fiscal 2020 Despite Headwinds
Following a disappointing earnings report in September, stock in cruise holding company Carnival (NYSE: CCL) has charted a gradual recovery. Friday's release of fiscal fourth-quarter earnings pushed shares up 7.6% on the day, and the CCL ticker is now up 3% year to date.
While Carnival will almost certainly underperform the S&P 500 in 2019 (the index has appreciated 28% year to date), the consumer discretionary giant can at least claim some momentum. Its adjusted per-share earnings skated beyond expectations in the current quarter, and management was able to issue an optimistic financial forecast for the coming year. As we walk through results of the last three months below, keep in mind that all comparative numbers refer to those of the prior-year quarter.
Data source: Carnival Corporation.
Source Fool.com
