Carnival says Europe hinders yield growth, sees 2013 EPS $1.80 to $2.10
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Carnival Corp & plc chairman and ceo Micky Arison says that booking volumes during our seasonally strong wave period have remained solid with pricing comparisons improving in recent weeks. “However, economic uncertainty in Europe continues to hinder yield growth,” he said in a statement.
Arison added: “Despite considerable attention surrounding the Carnival Triumph, we had been encouraged to see booking volumes for Carnival Cruise Lines recover significantly in recent weeks. Attractive pricing promotions, combined with strong support from the travel agent community and consumers who recognize the company’s well-established reputation and quality product offering, were driving the strong booking volumes.”
The company expects net cruise costs excluding fuel per ALBD for 2013 to be up 2.5 to 3.5 percent on a constant dollar basis compared to up 1 to 2 percent in the December guidance. The change in cost guidance is due to the impact of repair costs, as previously announced, as well as, expenses related to the enhancement of vessels in the remainder of the fleet as a result of the ship incident.
Taking the above factors into consideration, the company forecasts full year 2013 non- GAAP diluted earnings per share (EPS) to be in the range of $1.80 to $2.10, compared to 2012 non- GAAP diluted earnings of $1.88 per share.
Looking forward, Arison stated, “Our long term business fundamentals remain strong as we broaden our customer base of new and repeat cruisers through attractive product offerings, high satisfaction levels and compelling value propositions. We expect to drive return on invested capital higher through a measured pace of capacity growth and a continued focus on fuelconsumption savings. We continue to expect over $3 billion of cash from operations this year and remain committed to returning free cash flow to shareholders in 2013 and beyond.”
Carnival Corp & plc lowers full year revenue yield guidance to flat
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Carnival Corp & plc says it now expects full year net revenue yields, on a constant dollar basis to be in line with the prior year compared to up 1 to 2 percent in the December guidance.
“The change in net yields is due to the economic uncertainty in Europe and pricing promotions for the Carnival brand combined with less than expected growth in onboard revenue across the group. The company also expects net revenue yields on a current dollar basis to be flat for the full year,” Carnival said in a statement.
Carnival reports $37 million first quarter net profit
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Carnival Corporation & plc, the world’s largest cruise shipping group, reported net profit of $37 million for the three months to the end of February compared to a loss of $137 million in the same period a year earlier.
Total revenues rose slightly, to $3.59 billion from $3.58 billion, while ticket income dropped a fraction, to $2.74 billion from $2.76 billion. On board revenue rose to $844 million from $809 million, while tour sales remained unchanged at $9 million.
Micky Arison, chairman and ceo noted that first quarter earnings were better than December guidance due to the timing of certain expenses partially offset by $0.02 per share resulting from voyage disruptions and related repair costs.
Key metrics for the first quarter 2013 compared to the prior year were as follows:
On a constant dollar basis, net revenue yields (net revenue per available lower berth day or “ALBD”) decreased 2.3 percent for 1Q 2013, which was in line with the company’s December guidance, down 2 to 3 percent. Gross revenue yields decreased 3.4 percent in current dollars.
Net cruise costs excluding fuel per ALBD decreased 3.1 percent in constant dollars, which was better than December guidance, down 1.5 to 2.5 percent primarily due to the timing of certain expenses. Gross cruise costs including fuel per ALBD in current dollars decreased 5.5 percent.
Fuel prices decreased 4 percent to $677 per metric ton for 1Q 2013 from $707 per metric ton in 1Q 2012 and were in line with the December guidance of $674 per metric ton.
Fuel consumption per ALBD decreased 5 percent in 1Q 2013 compared to the prior year.
The company repurchased 2.3 million shares valued at $87 million during fiscal 2013.
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