Bank Estimates Lower Earnings for Carnival, RCCL

Citing fuel cost spikes this month, Wachovia Bank lowered its earnings estimates for Carnival Corp. and Royal Caribbean Cruises Ltd. for the year.

The bank raised Carnival’s first-quarter earnings estimate in advance of Carnival’s earnings call tomorrow because of stronger-than-expected close-in bookings.

Wachovia leisure analyst Tim Conder said that pricing trends were still positive, with most regions experiencing higher per diems in the past month, with Europe being the exception.