Carnival Corporation & plc, the world’s largest cruise shipping group, has reported a deep loss for the first quarter of its financial year and it said a full year loss appears likely.
Net loss amounted to $781 million in US GAAP terms for the three months to 28 February compared to a profit of $336 million in the same period year earlier. Revenues rose by $100 million to $4.8 billion.
“First quarter 2020 net loss includes $932 million of goodwill and ship impairment charges, reduced by net gains on ship sales,” the company said in a statement.
“First quarter 2020 net loss includes $932 million of goodwill and ship impairment charges, reduced by net gains on ship sales,” the company said in a statement.
“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,” Carnival said.
