August 29, 2016 7:44 PM ET

Hotels, Restaurants and Leisure

Company Overview of Carnival Corporation & Plc

Company Overview

Carnival Corporation & Plc, through its subsidiaries, provides cruise vacation services. The company operates cruise lines in North America, Alaska, Italy, France, the United Kingdom, South America, Germany, Southern Europe, Bahamas, the Mediterranean, Hawaii, the Caribbean Islands, Spain, and Australia. The company was founded in 2002 and is based in Miami, Florida.

3665 NW 87th Avenue

Miami, FL 33178-2428

United States

Founded in 2002

Phone:

305-599-2600

Fax:

305-406-8630

Key Executives for Carnival Corporation & Plc

Chief Executive Officer, President and Director
Age: 61
Chief Financial Officer and Senior Vice President
Age: 58
Chief Operations Officer, Chief Executive Officer of Princess Cruises and President of Princess Cruises
Age: 67
Chief Executive Officer of Carnival Australia
Age: 62
Chief Executive Officer of Carnival UK
Age: 58
Compensation as of Fiscal Year 2016.

Carnival Corporation & Plc Key Developments

Carnival Corporation & plc Finalizes Contracts with Italian Shipbuilder Fincantieri S P A to Build Five New Cruise Ships

Carnival Corporation & plc, announced that it has finalized contracts with Italian shipbuilder Fincantieri S p A to build five new cruise ships as part of a memorandum of agreement announced in 2015. The five new ships include two that will be built for Costa Asia for deployment in China, two ships for Princess Cruises and one designated for P&O Cruises Australia, with deliveries expected in 2019 and 2020. The contracts were formalized during a signing ceremony held as part of the official handover ceremony for Holland America Line's ms Koningsdam at Fincantieri's shipyard in Marghera, Italy, attended by Italian Minister of Infrastructure and Transport Graziano Delrio, Carnival Corporation Chairman Micky Arison, Carnival Corporation CEO Arnold Donald and Fincantieri CEO Giuseppe Bono.

Carnival Corporation & plc Announces Unaudited Consolidated Earnings Results for the First Quarter Ended February 29, 2016; Provides Earnings Guidance for the Second Quarter and Full Year 2016

Carnival Corporation & Plc announced unaudited consolidated earnings results for the first quarter ended February 29, 2016. For the quarter, the company announced adjusted net income of $301 million, or $0.39 diluted earnings per share compared to adjusted net income for the first quarter of 2015 of $159 million, or $0.20 diluted earnings per share. For the first quarter of 2016, U.S. GAAP net income was $142 million, or $0.18 diluted earnings per share, which included unrealized losses on fuel derivatives and other net charges of $159 million. For the first quarter of 2015, U.S. GAAP net income was $49 million, or $0.06 diluted earnings per share. Revenues for the first quarter of 2016 were $3.7 billion compared to $3.5 billion in the prior year. Operating Income was $434 million compared to $266 million a year ago. Income before income taxes was $143 million compared to $52 million a year ago. Cash from operations was $798 million compared to $771 million a year ago. Capital expenditures was $330 million compared to $942 million a year ago. For the second quarter of 2016, the company’s adjusted earnings per share (diluted) are expected to be in the range of $0.34 to $0.38, compared to $0.25 in second quarter of 2015. Second quarter constant currency net revenue yields are expected to increase 1.5% to 2.5% compared to the prior year. For the full year 2016, the company’s adjusted earnings per share (diluted) are expected to be in the range of $3.20 to $3.40, compared to December guidance of $3.10 to $3.40 and $2.70 in fiscal year 2015. Net revenue yields are expected to increase approximately 3% in constant currency compared to the prior year.

Carnival Corporation & plc Receives Approval to Cruise from U.S. to Cuba

Carnival Corporation & plc announced that Cuba has granted approval for the company to begin travel to Cuba starting on May 1, 2016. Following U.S. authorization granted in July 2015, Carnival Corporation is now cleared to operate the 704-passenger MV Adonia to Cuba through its newest brand Fathom. Cuban authorities from Havanatur Celimar, various other agencies and the company signed agreements enabling cruising by the company to Cuba.

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