Carnival Corporation & plc, the world’s largest cruise shipping group, reported net profit of $37 million for the three months to the end of February compared to a loss of $137 million in the same period a year earlier.
Total revenues rose slightly, to $3.59 billion from $3.58 billion, while ticket income dropped a fraction, to $2.74 billion from $2.76 billion. On board revenue rose to $844 million from $809 million, while tour sales remained unchanged at $9 million.
Micky Arison, chairman and ceo noted that first quarter earnings were better than December guidance due to the timing of certain expenses partially offset by $0.02 per share resulting from voyage disruptions and related repair costs.
Key metrics for the first quarter 2013 compared to the prior year were as follows:
On a constant dollar basis, net revenue yields (net revenue per available lower berth day or “ALBD”) decreased 2.3 percent for 1Q 2013, which was in line with the company’s December guidance, down 2 to 3 percent. Gross revenue yields decreased 3.4 percent in current dollars.
Net cruise costs excluding fuel per ALBD decreased 3.1 percent in constant dollars, which was better than December guidance, down 1.5 to 2.5 percent primarily due to the timing of certain expenses. Gross cruise costs including fuel per ALBD in current dollars decreased 5.5 percent.
Fuel prices decreased 4 percent to $677 per metric ton for 1Q 2013 from $707 per metric ton in 1Q 2012 and were in line with the December guidance of $674 per metric ton.
Fuel consumption per ALBD decreased 5 percent in 1Q 2013 compared to the prior year.
The company repurchased 2.3 million shares valued at $87 million during fiscal 2013.