Carnival Corp & plc, the world’s largest cruise shipping group, expects its net income for the current financial year fall short of the $1.91 billion reported for 12 months to 30 November 2011, while net revenue yields should increase slightly.
At the present time, cumulative advance bookings for 2012 are at slightly higher prices with slightly lower occupancies compared to the prior year. For the last six weeks, booking volumes for the first three quarters of 2012 are running well ahead of the prior year at lower prices.
Based on current booking trends, the company forecasts full year 2012 net revenue yields, on a constant dollar basis, to be up 1.0 to 2.0 percent. The company expects net cruise costs excluding fuel per ALBD for the full year 2012 to be in line with the prior year on a constant dollar basis. At current exchange rates, full year 2012 net income is expected to be reduced by $135 million or $0.17 per share compared to 2011 due to changes in currency exchange rates.
Taking all the above factors into consideration, the company forecasts full year 2012 non- GAAP diluted earnings per share to be in the range of $2.55 to $2.85, compared to 2011 non- GAAP diluted earnings of $2.42 per share.
Looking forward, Chairman and CEO Micky Arison stated, “Our base of business for 2012 is solid and we are experiencing strong booking volumes leading into wave season, our heaviest booking period which begins in early January. Despite the uncertain economic environment, we anticipate a continued slow recovery in yields in 2012 driven by ongoing consumer recognition that our cruises provide an exceptional value.”
