Business
Carnival Summary First Quarter Results and Othe...
Carnival Summary First Quarter Results and Othe....
About this update from Carnival Plc
[{"type":"text","content":"\n \n \n \n CARNIVAL CORPORATION & PLC REPORTS SUMMARY FIRST QUARTER RESULTS \n \n \n \n AND OTHER MATTERS\n \n \n MIAMI (March 19, 2020) - Carnival Corporation & plc (the “Corporation”) (NYSE/LSE: CCL; NYSE: CUK) disclosed summary financial information for the quarter ended February 29, 2020, in connection with previously disclosed financing activities to improve its liquidity position.\n \n First Quarter 2020 Summary Information\n \n \n U.S. GAAP net loss of $(781) million, or $(1.14) diluted EPS, for the first quarter of 2020, compared to U.S. GAAP net income for the first quarter of 2019 of $336 million, or $0.48 diluted EPS. First quarter 2020 net loss includes $932 million of goodwill and ship impairment charges, reduced by net gains on ship sales.\n First quarter 2020 adjusted net income of $150 million, or $0.22 adjusted EPS, compared to adjusted net income of $338 million, or $0.49 adjusted EPS, for the first quarter of 2019. First quarter 2020 adjusted net income excludes net charges of $932 million for the first quarter of 2020 and net charges of $2 million for the first quarter of 2019.\n The impact of COVID-19 on the first quarter 2020 net loss is approximately $0.23 per share, which includes cancelled voyages and other voyage disruptions, and excludes the impairment charges described above. Other previously disclosed voyage disruptions, noted during the Corporation’s December earnings conference call, also impacted first quarter 2020 results by approximately $0.12 per share.\n Total revenues for the first quarter of 2020 were $4.8 billion, higher than $4.7 billion in the prior year.\n \n \n \n Outlook\n \n For the first half of 2021, booking volumes since the Corporation's last conference call in mid-December through March 1, 2020, have been running slightly higher than the prior year. Also for the first half of 2021 and during the two weeks ended March 15, 2020, the Corporation booked 546,000 Occupied Lower Berth Days (“OLBD”), albeit considerably behind the prior year pace. As of March 15, 2020, cumulative advanced bookings for the first half of 2021, are slightly lower than the prior year.\n Wave season started strong with booking volumes for the three weeks ending January 26, 2020, running higher than the prior year for the remaining three quarters of the year on a comparable basis...