Carnival Corp., the cruise operator beset by mishaps at sea this year, cut its annual earnings forecast to reflect costs from an engine fire that crippled the Carnival Triumph last month.
Earnings excluding some items this year won't exceed $2.10 a share, Miami-based Carnival said today in a statement, less than the $2.40 seen previously. The Triumph debacle, which left 3,100 passengers stranded at sea for four days, was the first of at least three incidents this year on separate ships, including the Dream and the Legend the past two days.
The Triumph disaster, along with repairs and fleet-wide upgrades to avert similar failures, will boost costs this year for Carnival, which is cutting prices to attract passengers. Bookings for the largest cruise operator have recovered since the Triumph mishap, aided by discounts, Chairman and Chief Executive Officer Micky Arison said on a conference call.
Read more: Carnival, cruise ship Triumph operator, cuts earnings forecast
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