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Published on : Wednesday, July 1, 2015
Carnival Corp. has reported a net income of 222 million dollars in the second quarter. This is roughly more than 126% higher than their net income in the second Quarter of 2014. However, the revenue for the quarter was 0.03 billion lesser than 2014’s 3.63 billion dollars.
Carnival Corp. said that its net income in for this quarter included unrealized gains on fuel derivatives worth 34 million dollars and restructuring expenses of 7 million dollars.
Net revenue yielded rose by 4.1% in this quarter on a constant dollar basis, beating the company’s rough estimate of 2% to 3% and gross revenue yield fell 3.5% due to changes in the rate of exchange.
Fuel prices declined by 37% to 411 dollars per metric ton, and the company spent 333 million dollars on fuel this quarter as compared to 527 million dollars that it spent on fuel in the second quarter of 2014. Although the net cruise cost increased by 6.1% primarily due to an in an increase in dry dock days.
The CEO of Carnival Corp. Arnold Donald said in the earnings statement that all the North American brands yielded high revenue and he also said that the Carnival Cruise Line performed exceptionally well.
The company also said its fleet wide booking volume for the next three quarters was running ahead of last years, although a slightly lower price comparatively due to transactional currency impacts. Arnold Donald also mentioned that the high bookings indicates to the high consumer demand for the Carnival Corp. brands and that his company would step up marketing Investment for the remainder of the year.
Carnival Corp. also released a statement stating that its third-quarter net revenue yields were expected to go up by 2% to 3% in constant dollar as compared to the third-quarter of 2014.