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Carnival posts higher quarterly income, revenue

Leisure travel and cruise company Carnival Corp. posted net income of $391 million in the fiscal first quarter, up from $352 million in the comparable prior-year period.

Diluted EPS for the quarter that ended Feb. 28 stood at 54 cents, up from 48 cents in the 2017 quarter. Carnival said changes in fuel prices reduced earnings by 4 cents per share, offset by changes in currency exchange rates of 4 cents per share.

Total revenues rose to $4.23 billion for the quarter, up from $3.79 billion in the prior-year period.

Operating costs and expenses totaled $3.81 billion, up from $3.42 billion, resulting in operating income of $419 million for the quarter, which is higher than the $368 million in the same period a year earlier.

The company expects adjusted second fiscal quarter EPS to range from 56 cents to 60 cents and full-year 2018 EPS to range from $4.20 to $4.40, compared to the previous full-year outlook of $4.00 to $4.30.