Carnival Corporation & plc President and Chief Executive Officer Arnold Donald stated, "First quarter earnings included revenue growth from higher capacity and improved onboard spending, offset by the timing of cost increases and a drag from fuel price and currency compared to the prior year. First quarter adjusted earnings were better than the mid-point of December guidance by USD 0.07 per share."

Donald added, "For the full year, our earnings guidance now reflects USD 155 million, or USD 0.22 per share, from fuel price and currency moving against us. Operationally, we continue to expect revenues and adjusted earnings per share improvements in line with our December guidance. We expect adjusted earnings per share to be higher than the prior year, despite a USD 45 million, or USD 0.06 per share, year over year drag from currency and the price of fuel."

Key information for the first quarter of 2019 compared to the first quarter of 2018:

• Gross cruise revenues of USD 4.6 billion compared to USD 4.2 billion for the prior year. In constant currency, net cruise revenues of USD 3.6 billion compared to USD 3.4 billion, an increase of 4.7%.
• Gross revenue yields (revenue per available lower berth day or "ALBD") increased 5.8%. In constant currency, net revenue yields increased 0.5%, better than December guidance of approximately flat.
• Gross cruise costs including fuel per ALBD increased 8.6%. In constant currency, net cruise costs excluding fuel per ALBD increased 0.9%, better than December guidance of up approximately 2.0%, mainly due to the timing of expenses between quarters.
• Changes in fuel prices and currency exchange rates decreased earnings by USD 0.03 per share.

Highlights from the first quarter included the delivery of AIDAnova, the first cruise ship in the industry powered at sea by LNG and the delivery of COSTA VENEZIA, the first Costa ship designed for the Chinese market. Princess Cruises expanded its MedallionClass™ experience onboard REGAL PRINCESS, with three additional ships to follow in 2019. OceanMedallion™, the wearable device that powers the breakthrough guest experience platform behind MedallionClass vacations, was awarded the 2019 IoT Wearables Innovation of the Year. Additionally, Carnival Cruise Line was named the Best Ocean Cruise Line in the annual USA Today 10Best Readers' Choice Awards and Carnival Corporation was named by Forbes as one of America's best employers for diversity for its outstanding commitment to diversity and inclusion.

Full report here http://phoenix.corporate-ir.net/phoenix.zhtml?c=140690&p=irol-newsArticle&ID=2392355

© Shippax / PR