Last week, Carnival reported its Q4 and FY08 results, which were slightly ahead of consensus estimates. Higher fuel costs were offset by higher ticket prices for the group’s North American brands and continued focus on managing controllable costs. Management are now indicating a US$0.25 lower EPS guidance for FY09 reflecting the challenging environment and holidaymakers delaying bookings until closer to sail date. Financially, the group appears well placed to maintain its capacity expansion plans with a solid balance sheet and positive operating cash flow.

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here