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Carnival Corp & plc Second Quarter Results.
Carnival Corp & plc Second Quarter Results..
About this update from Carnival Plc
[{"type":"text","content":"\n \nCarnival Corporation & plc Reports Record Second Quarter Results\n\nRecord second quarter revenues and adjusted earnings\n\nMIAMI, June 25, 2018 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced U.S. GAAP net income of $561 million, or $0.78 diluted EPS, for the second quarter of 2018, higher than U.S. GAAP net income for the second quarter of 2017 of $379 million, or $0.52 diluted EPS. Second quarter 2018 adjusted net income of $489 million, or $0.68 adjusted EPS, was higher than adjusted net income of $378 million, or $0.52 adjusted EPS, for the second quarter of 2017. Adjusted net income excludes unrealized gains and losses on fuel derivatives and other net charges, totaling $72 million in net gains for the second quarter of 2018 and $1 million in net gains for the second quarter of 2017. Revenues for the second quarter of 2018 were $4.4 billion, higher than the $3.9 billion in the prior year.\n\nCarnival Corporation & plc President and Chief Executive Officer Arnold Donald stated, \"We delivered another strong quarter, again achieving record adjusted earnings on record revenues and exceeding the high end of our guidance range. Strong operational execution drove a 30 percent increase in adjusted earnings affirming the strength of our core strategy to create demand that outpaces measured capacity growth through outstanding guest experience efforts coupled with innovative actions to increase consideration for cruising across all global markets.\"\n\nKey information for the second quarter of 2018 compared to the second quarter of 2017:\n\n\n\nGross revenue yields (revenue per available lower berth day or \"ALBD\") increased 8.8 percent. In constant currency, net revenue yields increased 4.8 percent exceeding March guidance of up 2.5 to 3.5 percent.\n\n\n\nGross cruise costs including fuel per ALBD increased 8.2 percent. In constant currency, net cruise costs excluding fuel per ALBD increased 3.6 percent, better than March guidance of up 4.0 to 5.0 percent, principally due to the timing of expenses between quarters.\n\n\n\nChanges in fuel prices (including realized fuel derivatives) and currency exchange rates increased earnings by $0.01 per share.\n\nHighlights from the second quarter include the delivery of Carnival Cruise Line's 26th ship in its fleet, Carnival Horizon i...