NEW YORK (Reuters) - Carnival Corp (CCL.N)(CCL.L) said on Monday it expects second-quarter and 2009 earnings to be hurt by itinerary changes the cruise operator made last month to contend with an outbreak of swine flu in Mexico.
The Miami-based company reduced its earnings estimate by 5 cents per share about three weeks after it canceled Mexico stops for three of its cruise lines. Most of the impact would be seen in the second quarter, it said.
The world's largest cruise operator also said 2009 earnings could be as much as 10 cents a share off from estimates. The company said it would provide further details when it reports second-quarter results in June.
Last month, Carnival lowered its second-quarter earnings outlook by a penny to a range of 29 cents and 31 cents. The company also cut its 2009 earnings estimates by 6 cents to a range of $2.04 to $2.24.
On April 28, Carnival said it canceled two stopovers in Cozumel and one in Ensenada after the U.S. Centers for Disease Control recommended travelers postpone all nonessential travel to Mexico, citing a number of cases of the H1N1 flu virus, widely known as swine flu.
The cruise line modified itineraries for some of its cruise ships until June 15. The measure affected 27 ships operating under the Carnival Cruise Lines, Princess Cruises and Holland America Line brands.
From http://www.reuters.com/article/hotStocksNews/idUSTRE54H5DO20090518
Tags: Carnival Swine Flu Loss
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