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Carnival Sinks on Profit Warning

Investing.com

Investing.com - Cruise company Carnival (NYSE:CCL) sank in midday trade on Thursday, after it set its profit guidance below expectations.

"Since June, both booking volumes and prices for the first half of next year have been running lower than the prior year," Carnival (NYSE:CCL) management noted in a statement.

The operator anticipates earnings per share of $0.46 to $0.50 in the fourth quarter, compared to the consensus estimate of $0.66.

Carnival (NYSE:CCL) shares slumped 8.7%, while competitors Royal Caribbean Cruises (NYSE:RCL) dipped 2.2% and Norwegian Cruise Line (NYSE:NCLH) tumbled 3.4%.

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