- Royal Caribbean announces inaugural season for Quantum of the Seas
- DFDS to upgrade Copenhagen-Oslo cruise ferries for DKK120 million
- Maltese Prime Minister gives support to cruise industry
- Volatile Carnival shares extend losses in London
- Norwegian says half of UK First Engage and Reward event agents obtained maximum bonus
- To regain pricing power, invest in upgrading fleet - analyst
- "Worst may not be over yet for Carnival brand” – Farley
- The American Steamboat Company to expand west
- Carnival shares open sharply lower in New York, partly recover in London after morning rout
- Carnival issues profit warning, says yields to fall, shares dive in London
- Richard J. O'Hanlon appointed Vice President, Nautical and Safety Operations for Carnival Cruise Lines
- Viking launches its ocean project, company rebrands
Ports & Destinations
- Port of Barcelona hits an annual record
- Athens prepares to host Posidonia Sea Tourism Conference
- Norwegian Breakaway makes maiden call to Bermuda
- Study demonstrates that BC cruise ports continue to be an economic hub in Canada
- Ports America awarded operating contract for Port of Los Angeles Cruise Terminal
Products & services
- Trimline completes work on Pullmantur’s Monarch
- Wallem opens offices in South Africa
- Trimline and Carnival UK agree an on board interior maintenance service for five ships
- Wärtsilä Aquarius ballast water system received final approval
- Wallem opens first hub of expertise in Singapore as it looks to establish strategic maritime locations around the world
- Category: Top Headlines
- Published on Tuesday, 23 March 2010 14:06
- Written by Kari Reinikainen
Since the start of the calendar year, booking volumes for the remaining three quarters are running ahead of the prior year with prices significantly higher than last year’s discounted levels, Carnival Corp & PLC says.
“At this time, cumulative advance bookings for the remainder of the year are in line with last year at higher prices. The company has increased its EPS guidance for the full financial year as a result.
Chairman and CEO Micky Arison noted: “We have enjoyed a very robust wave season, setting booking records during the quarter. Wave season bookings were fuelled by attractive pricing in the marketplace and pent-up demand from those who postponed vacations last year. As a result, pricing continues to increase, particularly for the peak summer season."
"Having achieved significantly higher pricing, we expect revenue yields for the remaining three quarters of the year to increase approximately 3 to 4 percent (in constant dollars) compared to last year. Vacationers should take advantage of the current low rates now as prices are going up.”
The company expects full year net revenue yields, on a constant dollar basis, to increase 2% to 3% compared to flat to up 1% in its December guidance. Since the December guidance, forecasted constant dollar revenues have increased approximately $170 million.
Carnival expects net revenue yields on a current dollar basis to increase 2 to 3% for the full year 2010 compared to 2009. The company now expects net cruise costs excluding fuel per ALBD for the full year 2010 to be down approximately 2% to 3% on a constant dollar basis compared to down 1% to 2%in its December guidance.
However, since the December guidance, fuel prices have increased. Based on current spot prices for fuel, fuel costs are now expected to increase $483 million for the full year compared to 2009, costing an additional $0.60 per share. Since the December guidance, fuel costs are expected to reduce earnings by $117 million. In addition, strengthening of the U.S. dollar since the December guidance is expected to reduce earnings by approximately $85 million.
“Taking all the above factors into consideration, the company now forecasts full year 2010 fully diluted earnings per share to be in the range of $2.25 to $2.35, compared to its December guidance range of $2.10 to $2.30,” Carnival said.
Oasis of the Seas Coverage
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