This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Carnival Posts Jump in Profit

Carnival (CCL) and Carnival PLC (CUK) posted a rise in quarterly profit and revenue Thursday.

The company, which trades under two tickers as the result of Carnival's purchase of P&O Princess in April of 2003, reported fourth-quarter net income of $205 million, or 26 cents a share. Earnings missed Wall Street estimates by a penny, but came in 7% higher than the $191 million it had a year ago.

"This year has been the most exciting in the company's history. We emerge from 2003 a much different and stronger company than when we began this year, despite it being one of the more challenging years of the leisure industry," said Micky Arison, chairman and chief executive of the combined Carnival companies.

For fiscal 2003, Carnival said net income came in at $1.19 billion, or $1.66 a share, topping the $1.60 a share expected by analysts and up 18% from the $1.02 billion, or $1.73 a share, booked in fiscal 2002. Results for both the fourth quarter and fiscal year were in line with company estimates.

Fourth-quarter revenue came in at $1.82 billion, up 75% from the year-ago quarter's $1.04 billion, due primarily to Carnival's purchase of P&O Princess. For the full year, revenue came in at $6.72 billion, up 53.4% from $4.38 billion in fiscal 2002.

Going forward, Carnival said that first-quarter earnings would come in between 17 cents and 20 cents a share, which is lower than the current Wall Street estimate of 23 cents a share. The company said that it is comfortable with earnings estimates for 2004.

Carnival was up 17 cents, or 0.5%, at $37.94, while Carnival PLC was up 59 cents, or 1.5%, at $39.10.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs