Carnival Trading Up 3 Percent After Q3 Earnings

Shares of cruise line operator Carnival

traded higher on Tuesday after the company released third-quarter earnings results prior to the opening bell. At last check, the stock was trading up a little less than three percent at just above $38.00. On an intra-day basis, Carnival is trending down from its open at $38.98. Carnival reported net earnings for the quarter of $1.33 billion or $1.71 per share, compared to $1.34 billion or $1.69 per share in the year ago period. On an adjusted basis, earning were $1.19 billion or $1.53 per share, This came in ahead of analysts' consensus EPS estimates of $1.44. Revenues in the period were $4.68 billion compared to $5.06 billion. This was in line with analysts' consensus revenue estimates of $4.68 billion. Looking ahead to the fourth-quarter, Carnival expects adjusted earnings per share of $0.07 to $0.11. This is below analysts' consensus EPS estimates of $0.18 for the fourth quarter. For the fiscal year, Carnival narrowed its earnings per share guidance to a range of $1.83 to $1.87. Previously, the company was forecasting EPS of $1.80 to $1.90 for the fiscal year. Currently, analysts anticipate that Carnival will report earnings per share of $1.83 for the fiscal year.