Author Topic: Cruise company Carnival forecasts profit below estimates, shares fall  (Read 659 times)

Offline Host Mike

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"Dec 20 (Reuters) - Carnival Corp forecast current-quarter profit below analysts' estimates on Thursday, as the company faces higher fuel costs, and a stronger dollar that has crimped demand for cruises, sending its shares down 10 percent to a two-year low."

"Carnival has a large fleet of legacy ships. They don't perform as well as newer ships. It is hurting (the company) compared to Royal and Norwegian," said Tigress Financial Partners analyst Ivan Feinseth.
Miami-based Carnival is refreshing its fleet of over than 100 ships and will add 18 new ships between 2018 and 2022, to replace some of its older, less efficient ships."