The Miami based Carnival Corporation (NYSE:CCL) on Friday announced a significantly lower net income in the second-quarter because of losses on fuel price deals, but the cruise operator anticipates higher earnings for the year.
Carnival Corporation reported that it made $14 million or 2 cents a share in earnings during three months period finished May 31 evaluated against $206 million or 26 cents a share in the previous year.
The company reported that the profit decline would have been much smaller without those fuel contracts. Carnival would have made $159 million or 20 cents a share in earnings in the quarter. That surpass the corporation’s own anticipations.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Royal Caribbean Cruises Ltd. (NYSE:RCL) fell -1.91% to settle at $24.59, The Walt Disney Company (NYSE:DIS) moved up +0.15% to end at $47.47 while General Electric Company (NYSE:GE) jumped +1.43% to finish on Friday at $19.81.
Carnival Corporation (NYSE:CCL) last session volume of 11.59 million shares was higher than its average volume of 4.63 million shares. The stock after opening at $34.74 hit high price of $34.81 and then closed at $33.66 by scoring -2.66%.
CCL generated revenue of 15.96 billion in the following twelve months and earned $1.62 billion. The Company showed a positive 10.16% in the net profit margin and as well as in its operating margin which remained 12.15%. Company’s annual sales growth for the past five year was 5.93%.
The CCL past twelve months price to sales ratio was 1.64 and price to cash ratio remained 55.64. As far as the returns are concern, the CCL return on equity was recorded as 6.88% and dropped 5.04% return on investment while its return on asset stayed at 4.21%.
The stock showed weekly downbeat performance of -3.16% which was maintained for the month at +5.68%. Likewise the positive performance for the quarter was recorded as +6.32% and for the year was -7.68% while the YTD performance remained at +4.79%.
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