The stock fell 5.94% to $51.76 after the cruise operator's outlook for fiscal first-quarter earnings was below analysts' estimates. Carnival said it expects first-quarter earnings of between 40 cents to 44 cents a share. Analysts polled by FactSet were looking for EPS of 45 cents.
Carnival said it expects full-year 2019 earnings in a range of $4.50 and $4.80 a share, and said revenue would rise 5.5% in 2019 from 2018.
Fourth-quarter earnings were 70 cents a share, better than Wall Street's expectations of 69 cents. Revenue was $4.45 billion, missing analysts' estimates of $4.46 billion.
Despite getting its cash pile up to $982 million from $395 million at the end of November 2017, Carnival's stock has fallen more than 22% year to date.
Since Oct. 9, when the U.S. stock market started getting hit with a nasty selling spree, Carnival shares have fallen about 15%. They were at $61 a share on Oct. 9.
Consumer discretionary stocks have been hit hard during the market selloff, as investors shuddered at reports indicating a recession may be near. The Invesco Consumer Discretionary S&P US Select Sector ETF has declined 12.66% in the past three months.