Cruise giant Carnival PLC (LON:CCL NYSE:CCL) updates for the third quarter tomorrow and investors will be watching for the impact of the devastating hurricanes that have swept through the Caribbean.
Three major storms have already hit the region – Harvey, Irma and Maria - but the hurricane season is far from over and indeed, weather forecasters are concerned they might run out of names for this year’s storms so numerous have they been.
A big chunk of Carnival’s US$10bn North American revenue comes from its Caribbean operation and even though it has been sailing in the area a long time and knows the weather there, the concern is that this year has been so bad it may not be able to avoid a major trading impact.
Shares have dropped since August from close to all-time high, though broker forecasts are still for third quarter earnings to be at the top of guidance at US$2.20 per share.
On a travel dominated day, Thomas Cook PLC also reports and like Carnival a close eye will be kept on how its package holiday business in the Caribbean has been affected.
The first part of summer was good for Thomas Cook but the skies have also been clouded a bit of late by strike action by pilots seeking a pay rise “substantially” in excess of the retail price index inflation rate, which came in at 3.6%.
Recently the company has entered into a strategic alliance with Expedia, which has become the preferred supplier of hotels for Thomas Cook’s city break and domestic holiday business.
Having hit an all-time high in May, United Utilities PLC (LON:UU. has seen its share price drift back over the summer months, possibly factoring in the review outcome along with a fading of previous of bid speculation.
Major announcements expected
Tuesday September 26:
Trading update: Carnival Corp (Q3) (LON:CCL); Thomas Cook Group PLC (LON:TCG), United Utilities PLC (LON:UU.)
Finals: Animalcare Group PLC (LON:ANCR), Close Brothers Group PLC (LON:CBG), Mysale Group PLC (LON:MYSL), Netcall plc (LON:NET), Transense Technologies PLC (LON:TRT)
Interims: Altitude Group PLC (LON:ALT), AG Barr PLC (LON:BAG), Card Factory PLC (LON:CARD), Ebiquity plc (LON:EBQ), e-Therapeutics PLC (LON:ETX), Faroe Petroleum plc (LON:FPM), GYG PLC (LON:GYG), Horizon Discovery Group PLC (LON:HZD), Inspiration Healthcare Group PLC (LON:IHC), Instem Plc (LON:INS), Mortgage Advice Bureau Holdings PLC (LON:MAB1), Minds + Machines Group Limited (LON:MMX), Moss Bros Group plc (LON:MOSB), Mi-Pay Group PLC (LON:MPAY), Personal Group Holdings plc (LON:PGH), Premier Technical Services Group PLC (LON:PTSG), S&U PLC (LON:SUS), Taptica International PLC (LON:TAP), Time Out Group Plc (LON:TMO), Universe Group plc (LON:UNG)
Economic data: US new home sales; University of Michigan economic sentiment report