Carnival Corp Nearly Triples Its Profit

  • Business & Finance

Miami-headquartered cruise company Carnival Corporation & plc has reported a net income of USD 142 million in the first quarter of 2016, compared to a net income of USD 49 million seen in the same period a year earlier.

Revenues for the first quarter of 2016 were USD 3.7 billion compared to USD 3.5 billion in the prior year.

“Our teams delivered another strong quarter of operational improvement by creating increased demand for our brands and leveraging our scale which resulted in revenue yield improvement approaching 6 percent and the near doubling of first quarter adjusted earnings,” Carnival Corporation & plc President and Chief Executive Officer, Arnold Donald, said.

“Since January, booking volumes for the remainder of the year are running ahead of last year’s historically high levels at higher prices,” Carnival added.

On a constant currency basis, compared to the prior year, the company continues to expect full year 2016 net revenue yields to increase approximately 3 percent and net cruise costs excluding fuel per ALBD for full year 2016 to be up approximately 2 percent.

Second quarter constant currency net revenue yields are expected to increase 1.5 to 2.5 percent compared to the prior year.

Carnival Corporation last week became the first U.S. based cruise operator in more than 50 years to be granted approval from Cuba to sail there.

The company will send its 700-passenger cruise ship MV Adonia on seven-day cruises to Cuba in early May, initially visiting Havana, Cienfuegos and Santiago de Cuba.

Related news

List of related news articles