Carnival Corp. reported solidly positive growth in its earnings, but hinted at the possibility of higher fuel costs pulling down profits throughout the year.
The cruise line operator’s fiscal third-quarter profit increased 28% to $1.71 billion,. Per share earnings of $2.41 beat Wall Street expectations of $2.31 per share.
Revenue jumped 5.8 % to $5.84 billion – topping consensus estimate of $5.82 billion.
But as the firm is wary of fuel costs eating into profits, it projected its per-share earnings to range from 65 cents to 69 cents for the current quarter ending in November – which is a lower range compared to Wall Street estimates for 73 cents per share.