Friday preview: Carnival set to deliver 'positive' full year

Cruise operator Carnival is expected to report a “positive” set of full year results with 32% increase in earnings per share (EPS).

Consensus forecasts are for EPS of $2.60, up from $1.96 the previous year. Carnival has guided a range of $2.56 to $2.60.

“Management is establishing a track record of under-promising and over-delivering and we expect positive FY15 results…,” said Numis analyst Wyn Ellis.

Ellis said there was a significant tailwind from low fuel prices and an improvement in US consumer confidence. However, the analyst warned that the company is vulnerable to sentiment with regard to geopolitical events and concerns about terrorism.

“Overall, though, we believe there should not have been any major negatives from recent events,” Ellis said.

Net cruise costs, excluding fuel, are expected to rise between 2% and 3% while net finance costs are forecast to increase 3% to 4%.

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