Carnival Corp. Third Quarter Earnings Released

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carnival corp.
photo: CCL

Carnival Corporation & plc  announced non-GAAP net income of $1.2 billion, or $1.53 diluted earnings per share, for the third quarter of 2012.

Carnival Corporation & plc Chairman and CEO Micky Arison noted that third quarter non-GAAP earnings were better than anticipated in the company’s June guidance due primarily to a combination of higher than expected revenue yields and lower than expected costs, partly due to the timing of certain expenses.

Commenting on the third quarter, Arison said, “The significant efforts of our brand management teams were successful in partially mitigating the decline in cruise ticket prices. Onboard revenue yields (constant dollars excluding Costa) improved three percent during the quarter. Our brand managements’ continued focus on cost containment contributed to a three percent reduction in cruise costs (constant dollars excluding fuel) as well as a six percent reduction in fuel consumption on a unit basis.”

Fuel was also down by four percent, compared to 3Q 2011, at $659 per metric ton.

Source: PRN/Carnival Corp.

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