Carnival Corporation Lowers FY 2011 Revenue Guidance; Issue Q3 2011 Guidance Below Analysts' Estimates

Carnival Corporation announced that for fiscal 2011, it now expects full year net revenue yields, on a constant dollar basis, to increase 1.5% to 2.5%, compared to its March guidance increase of 2.5% to 3.5%. Net revenue yields on a current dollar basis are expected to increase 4.0% to 5.0% for the fiscal 2011 compared to fiscal 2010. For the third quarter of 2011, the Company expects net revenue yields to increase 1.0% to 2.0% (up 5.5% to 6.5% on a current dollar basis) and fully diluted earnings (EPS) to be in the range of $1.60 to $1.64 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $1.75 and revenue of $4.89 billion for the third quarter of 2011.