MARKET TALK: Carnival Starts To See Cost Of Currency Exposure

22nd Jun 2010 15:13

10:13 (Dow Jones) Carnival (CCL) posts solid 2Q and backs FY guidance, but 3Q EPS view -- $1.43-$1.47 -- comes up short of Street's $1.52 estimate. CCL says currency exchange rate cut earnings by $97M since its March guidance, though that's somewhat offset by lower spot fuel prices and cost cuts. Company suggests 3Q will be hit hard by currency fluctuations, with net revenue yields up 5%-6% on constant dollar basis but flat to up 1% on current dollar basis. CCL off 2.7% at $33.79 in early trading. ([email protected]) Call us at (212) 416-2181 or email [email protected] Visit the Market Talk blog at www.djnmarkettalk.com. (END) Dow Jones Newswires June 22, 2010 10:13 ET (14:13 GMT)