skip to content

Annual Results

Carnival record results

20 December 2016 14:26

Cruise ship giant Carnival Corporation & plc achieved the most profitable year in its history as well as record fourth quarter earnings.

The group reports full-year US GAAP net income of $2.8 billion, or $3.72 diluted EPS, compared to $1.8 billion, or $2.26 diluted EPS for the prior year.

Adjusted net income rose to $2.6 billion, or $3.45 EPS, from $2.1 billion, or $2.70 EPS for the prior year.

Fourth quarter net revenue yields in constant currency increased 4.1% compared to prior year and better than September guidance of up approximately 3%.

Fourth quarter net cruise costs excluding fuel per available lower berth day (ALBD) in constant currency increased 1.0% compared to prior year, in line with September guidance of up approximately 1%.

Fourth quarter US GAAP net income was $609 million, or $0.83 diluted EPS, compared with $270 million, or $0.35 diluted EPS for the prior year

Fourth quarter adjusted net income was $491 million, or $0.67 EPS compared with et income of $389 million, or $0.50 EPS for the prior year. Outlook

Looking ahead, the group says cumulative advance bookings for the first three quarters of 2017 are well ahead of the prior year at considerably higher prices. FY 2017 net revenue yields in constant currency are expected to be up approximately 2.5% compared to the prior year. FY 2017 net cruise costs excluding fuel per ALBD in constant currency are expected to be up approximately 1.0% compared to the prior year.

FY 2017 adjusted EPS is expected to be in the range of $3.30 to $3.60, compared to FY 2016 adjusted EPS of $3.45.

President and chief executive Arnold Donald said: "We achieved the most profitable year in our companys history as well as record fourth quarter earnings. The continued execution of our core strategy to drive consumer demand in excess of measured capacity growth, contain costs and leverage our industry-leading scale resulted in our third consecutive year of significantly higher earnings and return on invested capital.

"The delivery of over $5 billion in cash from operations for our shareholders enabled increased dividend distributions reaching $1 billion and the investment of over $2.3 billion in the repurchase of Carnival Corporation stock. This continued strong performance is a credit to the outstanding contributions of our 120,000 employees worldwide who work every day to exceed our guests expectations and our thousands of travel agent partners around the globe whose support is crucial to our success.

"We enjoyed strong momentum in booking patterns throughout 2016 and therefore are in a stronger booked position entering the new year at higher prices as a result of our ongoing efforts to increase consideration and demand for our brands.

"We are anticipating another solid year of operational improvement in 2017. Despite the unusual and significant impact of fuel and currency working against us simultaneously, the underlying strength in our fundamental business leaves us well positioned to achieve sustained double digit return on invested capital and to create continued value for our shareholders."

At 2:26pm: (LON:CCL) Carnival PLC share price was +74.5p at 4097.5p

Story provided by StockMarketWire.com

Related Company: CCL

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.