Carnival Corporation & plc, the world’s largest cruise shipping company, has raised its guidance for earnings per share (EPS) in the financial year to 30 November on stronger bookimngs and rising prices.

“Taking the above factors into consideration, the company has increased its full year 2016 adjusted earnings per share guidance to be in the range of $3.33 to $3.37, compared to the June guidance range of $3.25 to $3.35 and 2015 adjusted earnings per share of $2.70,” the company said in a statement.

The guidance for the present financial year is now close in line with the $3.20 to $3.40 the company forecast in its first quarter earnings release. It lowered the guidance in the second quarter.

At this time, cumulative advance bookings for the first half of next year are ahead of the prior year at considerably higher prices. Since June, booking volumes for the first half of next year are lower than the prior year, as there is less inventory remaining for sale, at significantly higher prices.

The company continues to expect full year 2016 net revenue yields to be up approximately 3.5% compared to the prior year, on a constant currency basis. It also continues to expect full year net cruise costs excluding fuel per ALBD to be up approximately 1.5% compared to the prior year, on a constant currency basis.

Arnold Donald, President and Chief Executive Officer said in a statenment: "We are well on track to deliver nearly 25 percent earnings growth in 2016. With cash from operations expected to reach a record $5 billion this year, we continue to fund our growth and return cash to shareholders. During the third quarter we repurchased $700 million of Carnival Corporation shares bringing the cumulative total to $2.5 billion in share repurchases over the past year."

Donald added, "Looking forward, we are well positioned for continued earnings growth given the current strength of our booking and pricing trends in 2017."