UPDATE 1-Cruise operator Carnival forecasts 3rd-qtr profit below estimates

martes 24 de junio de 2014 10:21 GYT
 

* Forecasts $1.38-$1.44/share for Q3 vs est $1.51

* Raises full-year profit forecast to $1.60 to $1.75/share

* Shares fall about 2 pct (Adds details, share movement)

June 24 (Reuters) - Carnival Corp, the world's largest cruise operator, forecast a weaker-than-expected adjusted profit for the third quarter, citing increased competition in the Caribbean and higher costs, sending its shares down 2 percent in early trading.

The company, which operates the Carnival, Holland America and Costa cruise lines, forecast an adjusted profit of $1.38-$1.44 per share for the current quarter, when the company earns a lion's share of its earnings due to peaking demand in the summer.

Analysts on average were expecting $1.51 per share, according to Thomson Reuters I/B/E/S.

The company, however, raised its full-year adjusted profit forecast to $1.60 to $1.75 per share from $1.50-$1.70.

Carnival said it expects third-quarter net revenue yields, which blend ticket sales and money spent onboard, to be flat to down 1 percent on a constant currency basis due to "significant industry capacity increase in the Caribbean."

About 35 percent of the company's passenger capacity was in the Caribbean in the year ended November.   Continuación...