Carnival Corporation Boasts Strong 2Q

Carnival Corporation & plc has announced non-GAAP net income of $80m, or $0.10 diluted EPS for the second quarter of 2014 compared to non-GAAP net income for the second quarter of 2013 of $57m, or $0.07 diluted EPS.

For the second quarter of 2014, U.S. GAAP net income, which included a net gain on vessel transactions of $15m, and net unrealized gains on fuel derivatives of $1m, was $106m, or $0.14 diluted EPS.

For the second quarter of 2013, U.S. GAAP net income, which included a gain on a ship sale of $15m and unrealized losses on fuel derivatives of $31m, was $41m, or $0.05 diluted EPS.

Revenues for the second quarter of 2014 were $3.6bn, compared with $3.5bn the prior year.

Carnival Corporation & plc President and CEO Arnold Donald said: “We benefited from effective marketing initiatives, which combined with a gradually improving economic environment, led to revenue yield improvement for our continental European brands in the quarter compared to the prior year and is expected to continue through the remainder of the year. In addition, we achieved a six percent improvement in fuel consumption.”

During the second quarter Princess Cruises’ new Regal Princess debuted in Europe.

Additionally, Princess launched its first homeport cruise program from China in May with the start of a four-month series of voyages from Shanghai on Sapphire Princess.

Also in May, Costa Cruises announced that it will position Costa Serena in China next year, bringing the company’s total to four ships based in the world’s fastest growing cruise market.

[mappress]
June 24, 2014