Menu
 
A+ A A-

Carnival Corporation & plc final quarter net income falls to $494 million

Carnival Corporation & plc, the world’s largest cruise shipping group, has reported fall in final quarter net income, but the figure for its full financial year 2018 increased, figures released by the company show.

In the three months to 30 November, net income fell to $494 million from $546 million in the same period last year. Operating income rose a fraction, to $552 million from $548 million, while revenues increase to $4.46 billion from $4.26 billion.

In the full financial year 2018, net profit reached $3.13 billion, a marked increased from 42.60 billion, year on. Operating income increased to $3.33 billion from $2.81 billion and revenues reached $18.89 billion compared to $17.51 billion in the 2017 financial year.

Arnold Donald, President and Chief Executive Officer  said in a statement: "We delivered strong fourth quarter earnings and record adjusted fourth quarter earnings to top off a record breaking year. In 2018, we grew net cruise revenue (constant currency) over five percent, achieving the highest revenue yields (constant currency) in our company's history, and producing double-digit adjusted earnings growth despite a significant drag from fuel and currency. More importantly, we achieved double-digit return on invested capital in line with the target we established five years ago.”

On an adjusted basis, final quarter net income of $492 million, or $0.70 EPS, compared to net income of $452 million, or $0.63 EPS, for the same period in prior year. “Adjusted net income excludes unrealized gains and losses on fuel derivatives and other net charges, totaling $2 million in net gains for 4Q 2018 and $94 million of net gains for 4Q 2017,” Carnival said.

Gross revenue yields (revenue per available lower berth day or "ALBD") increased 1.9%. In constant currency, net revenue yields increased 3.7% for the final quarter of 2018, better than September guidance of up 1.5% to 2.5%

Gross cruise costs including fuel per ALBD increased 2.4%. In constant currency, net cruise costs excluding fuel per ALBD decreased 0.5%, compared to September guidance of down 1.0% to 2.0%.

 

CBR 2/2018 CONTENTS

CBR 1/2018 CONTENTS

CBR 3/2017 CONTENTS