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Weaker dollar lifts Carnival outlook for Q1 and 2018

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Citing the benefit of a weaker dollar, partially offset by higher fuel costs, Carnival Corp. & plc indicated first quarter and full year earnings per share would be better than December guidance.

Based on Jan. 24 fuel costs and foreign exchange rates, adjusted earnings per share would go up 2 cents in the first quarter and 15 cents for full year 2018, according to a filing.

On Dec. 19, Carnival had projected Q1 EPS in a range of 37 cents to 41 cents, and full year EPS in a range of $4 to $4.30.

The 15-cent increase for the full year derives from a 17-cent per share lift from foreign currency exchange rates, partially offset by higher fuel prices net of lower forecasted realized losses on fuel derivatives of 2 cents per share.

The Wall Street consenus for Carnival's first quarter EPS is 42 cents, and for 2018 is $4.27.

CCL closed at $71.94 Monday, up 50 cents per share.