Carnival will report its third-quarter results on Tuesday before market hours, with the market expecting revenue to grow 2.4% year on year. Last quarter the cruise ship company reported revenues of $6.66 billion, up 5.3% year on year, and 25.7 million passenger cruise days, up 1.6% year on year, a mixed quarter in which it beat analysts' EPS estimates but full-year EBITDA guidance slightly missed expectations. Analysts have generally reconfirmed their estimates over the last 30 days, though Carnival has missed Wall Street's revenue estimates multiple times over the last two years. Among its consumer discretionary peers, only Scholastic has reported so far, missing revenue estimates with a 3.9% year-on-year sales decline and a 7.8% stock drop on the results. Carnival shares are down 6.7% over the last month, versus a 6.8% average decline for the group, and the stock carries an average analyst price target of $33.99 compared to a current share price of $22.29.
Carnival CorporationCarnival is set to report Q3 results Tuesday, with mixed prior-quarter results and a history of missing revenue estimates.
Scholastic CorporationScholastic is cited as a peer that missed revenue estimates with a 3.9% sales decline and a 7.8% stock drop.
