Carnival Falls After Cutting Guidance

Carnival Corp CCL reported second-quarter earnings of 66 cents per share, which beat the analyst consensus estimate of 61 cents. This is a 2.94% decrease over earnings of 68 cents per share from the same period last year.

The company reported quarterly sales of $4.84 billion, which beat the analyst consensus estimate of $4.53 billion. This is a 11.09% increase over sales of $4.357 billion the same period last year.

Carnival shares are trading lower, however, after the company cut FY2019 earnings per share guidance from $4.35-$4.55 To $$4.25-$4.35, citing geopolitical and macroeconomic headwinds affecting the company's Continental European brands.

The stock traded at $48.80 in the pre-market session, down 7.6%. The stcok has a 52-week range between $67.69 and $45.64.

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