Analyst Research Report Snapshot

Title:

CARNIVAL - FLEXIBLE MODEL FILLS SHIPS

Price:

$10.00

Provider:

Edison Investment Research

Date:

25 Mar 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

CCL.L

Available for Immediate Download
Summary:

Yesterday, Carnival reported its Q1 results with diluted EPS of US$0.33 well ahead of the consensus estimate of US$0.19. Tight cost control and lower fuel costs offset the drop in revenues. With two-thirds of capacity booked for the reminder of FY09, management is now guiding a tighter 20c (versus 50c) EPS range, though to a mid-point of US$2.20, down from US$2.50 three months ago. Despite this, we believe Carnival’s more diverse offering, stronger balance sheet and less volatile quarterly earnings profile warrants its premium rating to Royal Caribbean. FOR MORE INFORMATION ON ATTACHED RESEARCH PLEASE CALL 020 3077 5713 OR EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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