Carnival PLC (LSE:CCL) shareholders are waiting for their ship to come in after a torrid two years for the cruises operator.
Friday’s second-quarter earnings should still see the company’s profits below the plimsoll line.
With so little revenue coming in, the first quarter the company saw the group lose US$1.49bn but with 75% of its ships back in the water the second quarter (Q2) should see these red numbers shrink.
The company said it still expects to make a loss in Q2 but that bookings have started to recover strongly.
“The sharp rise in fuel prices seen since those comments were made, may well impact this assessment, however in the absence of any new restrictions there is a semblance that the worst may be over, but it's still likely to be a long road back,” said analysts at CMC Markets.
Second-quarter losses are expected to come in at $1.14 a share.
On the macro front, UK consumer confidence data and retail sales will be keenly read by any investors with interest in the consumer-facing sectors.
The GfK consumer confidence index is expected to worsen to -41 for June from -40 last time.
Retail sales are expected to have fallen 1.4% month-on-month in May, in what are volatile monthly figures, after rising 1.4% in April.
Significant announcements expected
Trading announcements: Harworth
Interims: Carnival PLC
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Economic announcements: GFK Consumer Confidence (UK), Retail Sales (UK)