Carnival Corporation first quarter 2022 financial results

• U.S. GAAP net loss of USD 1.9 billion and adjusted net loss of USD 1.9 billion for the first quarter of 2022.
• First quarter 2022 ended with USD 7.2 billion of liquidity, including cash, short-term investments and borrowings available under the company's revolving credit facility.
• For the cruise segments, revenue per passenger cruise day ("PCD") for the first quarter of 2022 increased approximately 7.5% compared to a strong 2019. This increase was driven by exceptionally strong onboard and other revenue.
• As of March 22, 2022, 75% of the company's capacity had resumed guest cruise operations.

• The company believes monthly adjusted EBITDA will turn positive at the beginning of its summer season.
• Since the middle of January, the company has seen an improving trend in weekly booking volumes for future sailings. Recent weekly booking volumes have been higher than at any point since the restart of guest cruise operations.
• The company announced that three additional ships are expected to leave the fleet in 2022 in connection with its ongoing fleet optimization strategy. In total, this represents the planned removal of 22 smaller-less efficient ships since the beginning of the pause in guest cruise operations.
• Building on the company's strong governance framework and its continued commitment to sustainability, the Boards of Directors appointed the company's President and Chief Executive Officer Arnold Donald to the role of Chief Climate Officer.

Full report https://www.prnewswire.com/news-releases/carnival-corporation--plc-provides-first-quarter-2022-business-update-301507475.html

Mar 22 2022