Earnings Preview: Carnival Corp.

ASHLEY M. HEHER

CHICAGO (AP) — Cruise line company Carnival Corp. reports results for its third quarter on Tuesday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Cruise company Carnival Corp. has worked to cut costs as the recession continues, but its massive discounts have enticed travelers to leave dry land and seem to have benefited the company. It beat forecasts for the second quarter despite rising fuel costs and the worldwide outbreak of swine flu rattling travelers.

During the third quarter, the Miami-based company said a group of major shareholders would sell 8.5 million shares for tax planning, estate planning and diversification purposes. The shares are part of the massive 28 percent stake in the company owned by Chairman and CEO Micky Arison and his family, who hold a combined 220 million shares.

Also during the period, communications and technology company Harris Corp. said it signed a multiyear deal with the cruise company to provide satellite telephone, data and Internet service for passengers on the company's Costa Cruises brand tours.

In addition to Costa, the company operates Carnival and Princess cruises, the Holland America Line and other cruise lines around the globe.