Carnival shares fall 2% in London after interims
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Shares in Carnival plc, the British holding company in the Carnival Corp & plc group, traded 2% down in late London trading after the company had published interims for the first quarter of its financial year.
The shares traded at £23.82, which was 1.98% down on the opening. The FTSE 100 index of leading shares had lost 0.7% since the market’s opening.
Carnival reported a return to profit in the first quarter of its financial year, but lowered its net yield forecast growth to flat versus 2012 from a 1% to 2% rise it had indicated in December.
Carnival says Europe hinders yield growth, sees 2013 EPS $1.80 to $2.10
- Details
- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Carnival Corp & plc chairman and ceo Micky Arison says that booking volumes during our seasonally strong wave period have remained solid with pricing comparisons improving in recent weeks. “However, economic uncertainty in Europe continues to hinder yield growth,” he said in a statement.
Arison added: “Despite considerable attention surrounding the Carnival Triumph, we had been encouraged to see booking volumes for Carnival Cruise Lines recover significantly in recent weeks. Attractive pricing promotions, combined with strong support from the travel agent community and consumers who recognize the company’s well-established reputation and quality product offering, were driving the strong booking volumes.”
The company expects net cruise costs excluding fuel per ALBD for 2013 to be up 2.5 to 3.5 percent on a constant dollar basis compared to up 1 to 2 percent in the December guidance. The change in cost guidance is due to the impact of repair costs, as previously announced, as well as, expenses related to the enhancement of vessels in the remainder of the fleet as a result of the ship incident.
Taking the above factors into consideration, the company forecasts full year 2013 non- GAAP diluted earnings per share (EPS) to be in the range of $1.80 to $2.10, compared to 2012 non- GAAP diluted earnings of $1.88 per share.
Looking forward, Arison stated, “Our long term business fundamentals remain strong as we broaden our customer base of new and repeat cruisers through attractive product offerings, high satisfaction levels and compelling value propositions. We expect to drive return on invested capital higher through a measured pace of capacity growth and a continued focus on fuelconsumption savings. We continue to expect over $3 billion of cash from operations this year and remain committed to returning free cash flow to shareholders in 2013 and beyond.”
Carnival Corp & plc lowers full year revenue yield guidance to flat
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 15 March 2013 15 March 2013
Carnival Corp & plc says it now expects full year net revenue yields, on a constant dollar basis to be in line with the prior year compared to up 1 to 2 percent in the December guidance.
“The change in net yields is due to the economic uncertainty in Europe and pricing promotions for the Carnival brand combined with less than expected growth in onboard revenue across the group. The company also expects net revenue yields on a current dollar basis to be flat for the full year,” Carnival said in a statement.
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