Carnival share price: Group issues Q2 trading update

on Jun 23, 2015
Updated: Oct 21, 2019
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Carnival Corporation & plc (LON:CCL) today reported its results for the second quarter ended May 31, 2015. The results of Carnival Corporation and Carnival plc have been consolidated and include results on a U.S. GAAP and non-U.S. GAAP basis.

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**Highlights from the company’s statement:**
2Q Highlights
2Q net revenue yields (net revenue per available lower berth day or “ALBD”) in constant dollars increased 4.1% compared to the prior year, which was better than the company’s guidance of up 2 to 3 percent; 2Q net cruise costs excluding fuel per ALBD in constant dollars increased 6.1% compared to the prior year primarily due to an increase in dry dock days and were better than March guidance, up 6.5 to 7.5% due to the timing of expenses between quarters; 2Q non-GAAP earnings per share (diluted) of $0.25, compared to $0.09 for the prior year
Outlook
At this time, cumulative advance bookings for the next three quarters are well ahead of the prior year at slightly lower prices due to transactional currency impacts; FY 2015 net revenue yields on a constant currency basis are expected to be up 3 to 4% compared to the prior year (up 2 to 3 % in constant dollars); FY 2015 net cruise costs excluding fuel per ALBD in constant dollars are expected to be up approximately 3% compared to the prior year; FY 2015 non-GAAP earnings per share (diluted) expected to be in the range of $2.35 to $2.50, compared to $1.93 for 2014; 3Q 2015 non-GAAP earnings per share (diluted) expected to be in the range of $1.56 to $1.60, compared to $1.58 for 3Q 2014
President and Chief Executive Officer Arnold Donald commenting on these results: “We more than doubled our second quarter earnings versus the comparable period a year ago and significantly exceeded our quarterly earnings guidance. Our initiatives to create demand and leverage our scale benefited both cruise ticket prices and onboard revenues contributing to 5% revenue yield improvement (constant currency) this quarter. While all of our North American brands enjoyed strong revenue yield improvement, our Carnival Cruise Line brand performed particularly well again this quarter. We thank our teams around the globe for their consistent delivery of exceptional guest experiences as well as our travel agent partners for their strong support, both of which are critical to our success.”
“These milestones further demonstrate our ongoing focus on effective strategic actions, technological development and innovation, laying the foundation for future growth and continued global expansion.”
“Current strength in booking volumes clearly demonstrates strong consumer demand for our brands, leaving less inventory remaining for sale and building confidence in achieving significant revenue yield improvement this year. We are stepping up our marketing investment for the remainder of the year to further solidify our base of business for 2016 and drive continued yield improvement as we progress on our path toward double digit return on invested capital.”
**More to follow…**
As of 14:28 BST, Tuesday, 23 June, Carnival plc share price is 3,316.50p.

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