Carnival Corp. Off To Strong Start, Rest Of Year Looks Good
With revenue slightly higher and yields up significantly, Carnival
Corporation & plc exceeded analyst expectations for the first quarter of
2017. And the cruise giant says the good news doesn’t end there, with booking
volumes and pricing for the remainder of the year running ahead of 2016.
“We are off to a good start delivering another quarter of
operational improvement on top of a very strong first quarter last year,” said President
and CEO Arnold Donald.
“Our performance was driven by increased demand, particularly for
our core Caribbean itineraries, leading to higher year-over-year ticket prices
which enabled us to overcome the significant negative impact of both fuel and
currency to exceed the high end of our guidance range.”
Donald added that Carnival and its 10 brands and over 100 ships
enjoyed a strong ‘Wave Season,’ the peak booking period for the company.
“We are clearly benefiting from our efforts to increase cruise
consideration through guest experience innovations, creative marketing, and
public relations programs. We are reaching consumers through multiple touch
points and laying the foundation for continued earnings improvement and
sustained double digit returns on invested capital.”
Carnival Corp. Q1 highlights included:
The January announcement at the Consumer
Electronics Show of guest experience innovation the Ocean Platform -- featuring
Ocean Medallion. The experience will debut on Princess Cruises’
Regal Princess in November 2017 followed
by additional Princess ships in 2018.
The official debut of Seabourn Cruises’ newest
Seabourn Encore, with its
naming ceremony in Singapore.
A memorandum of agreement with Italian
shipbuilder Fincantieri to build two new ships. The first is designated
for Holland America Line to be delivered in 2021 with the second
for Princess Cruises in 2022.
Following Carnival Corp.’s historic sailings
from the U.S. to Cuba through its Fathom brand, CCL received approval to begin
operating cruises to the island.
will be the largest cruise ship to sail to Cuba from the U.S. when
it begins calling in Havana in June.