Carnival shares open sharply lower in New York, partly recover in London after morning rout
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 21 May 2013 21 May 2013
Shares in Carnival Corporation, the US based holding company in the Carnival Corp & plc group, opened sharply lower on Tuesday after the group had issued a profit warning, while shares in Carnival plc, the British holding company, stageda partial recovery after a morning rout.
Carnival Corporation traded about 5.4% down at $33.40 in New York at about 10 am this morning local time. About 6.2 million shares had changed hands.
In London, Carnival plc had staged a recovery to trade about 4.2% lower at £23.01 at 3pm local time. It had hit a session’s low of £20.17 in the morning. Volume was in the region of 3.7 million shares.
However, the share price of both holding companies showed high volatility
Carnival issues profit warning, says yields to fall, shares dive in London
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 21 May 2013 21 May 2013
Carnival Corporation & plc, the world’s largest cruise shipping group, has issued a profit warning on forecast fall of yields in 2013 that sent shares in the British holding company sharply lower in early London trading.
“The company now expects full year 2013 net revenue yields to be down 2% to 3% compared to the previous flat yield guidance for the year. In addition, voyage cancellations beyond those incorporated in the company's previous earnings guidance, as well as increased selling and administrative costs, are expected to reduce earnings by approximately $0.10 per share,” the company said in a statement.
“Current cruise ticket pricing for the company has driven higher booking volumes however, at the same time, it has led to lower than anticipated net revenue yields which has resulted in reduced earnings guidance,” it continued.
“Based on the above factors, as well as current fuel prices of $674 per metric ton and currency exchange rates of $1.30 to the euro and $1.53 to the pound, the company now expects full year 2013 EPS to be in the range of $1.45 to $1.65 compared to its previous earnings guidance range of $1.80 to $2.10. The company continues to expect second quarter 2013 EPS to be in the range of $0.04 to $0.08 per share despite slightly lower yield expectations,” Carnival said.
Shares in Carnival plc, the UK based holding company, had fallen 13.8% to £20.7 in the first 45 minutes of trading in London this morning.
Richard J. O'Hanlon appointed Vice President, Nautical and Safety Operations for Carnival Cruise Lines
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- Written by Teijo Niemelä Teijo Niemelä
- Category: Top Headlines Top Headlines
- Published: 20 May 2013 20 May 2013
Richard J. O'Hanlon, a former rear admiral in the U.S. Navy with nearly two decades of government and private sector executive experience in maritime operations, maintenance and logistics, has been named vice president - nautical and safety operations for Miami-based Carnival Cruise Lines, the world's largest cruise operator.
O'Hanlon started May 20, reporting to Martin Landtman, Carnival's senior vice president of marine operations.
In this newly created position, O'Hanlon will be responsible for all aspects of nautical and safety functions across the line's 24-vessel fleet, including bridge procedures and nautical operations, as well as firefighting and lifesaving systems. Additionally, all shipboard deck and bridge personnel, including ship captains, will report to him.
"We are privileged to have such a highly experienced professional oversee this critically important role within our marine operations area," said Landtman. "Rich's outstanding level of expertise and diverse skill set will be a major asset to our nautical and safety operations."
O'Hanlon most recently served as chief operating officer of Long Island, N.Y.-based Talon Air, Inc., an air charter company with a fleet of 25 corporate aircrafts where he controlled $40 million in assets. Prior to that, O'Hanlon held a number of prominent maritime positions, including commander of the Naval Air Force Atlantic and deputy chief of staff for logistics and training for U.S. Fleet Forces, both based in Norfolk, Va. O'Hanlon also served as the commanding officer of a nuclear-powered aircraft carrier, overseeing a team of more than 5,000.
O'Hanlon earned a bachelor of science in mathematics from the United States Naval Academy, a master's certification in applied aeronautical engineering from the United States Naval Test Pilot School and a master's certification in applied nuclear engineering from the United States Naval Nuclear Power Training Command.
Carnival is "The World's Most Popular Cruise Line" with 24 ships operating 3- to 16-day voyages to The Bahamas, Caribbean, Mexican Riviera, Alaska, Hawaii, Canada, New England, Europe, Panama Canal, New Zealand, the Pacific Islands, Norway, the Baltic and the British Isles. The company's 25th ship, an as-yet-unnamed 135,000-ton vessel, is scheduled for delivery in spring 2016.
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