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August 27, 2015 9:20 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





Key Executives for Carnival Corporation & Plc

Chief Executive Officer, President and Director
Age: 60
Chief Financial Officer and Senior Vice President
Age: 57
Chief Operations Officer, Chief Executive Officer of Princess Cruises and President of Princess Cruises
Age: 66
Chief Executive Officer of Carnival Australia
Age: 61
Chief Executive Officer of Carnival UK
Age: 57
Compensation as of Fiscal Year 2015.

Carnival Corporation & Plc Key Developments

Carnival Corporation & plc Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2015; Provides Earnings Guidance for the Third Quarter and Full Year 2015

Carnival Corporation & Plc announced unaudited consolidated earnings results for the second quarter and six months ended May 31, 2015. For the quarter, revenues were $3,590 million, operating income was $289 million, income before income taxes was $226 million and net income was $222 million or $0.29 per diluted share against revenues of $3,633 million, operating income of $147 million, income before income taxes of $99 million and net income of $98 million or $0.13 per diluted share for the same period a year ago. Non-GAAP earnings per share-diluted was $0.25 against $0.09 a year ago. Non-GAAP net income was $193 million against $73 million a year ago. For the six months, revenues were $7,120 million, operating income was $554 million, income before income taxes was $278 million and net income was $271 million or $0.35 per diluted share against revenues of $7,218 million, operating income of $214 million, income before income taxes of $80 million and net income of $78 million or $0.10 per diluted share for the same period a year ago. Non-GAAP earnings per share-diluted was $0.45 against $0.09 a year ago. Non-GAAP net income was $352 million against $70 million a year ago. The company has increased its full year 2015 non-GAAP diluted earnings per share guidance to be in the range of $2.35 to $2.50, compared to 2014 non-GAAP diluted earnings of $1.93 per share. The company continues to expect full year 2015 net revenue yields on a constant currency basis to be up 3 to 4%, which excludes translational and transactional currency impacts, compared to the prior year (up 2 to 3% on a constant dollar basis compared to the prior year). Third quarter constant currency net revenue yields are expected to be up 3 to 4% compared to the prior year (up 2 to 3% in constant dollars). Based on the above factors, the company expects non-GAAP diluted earnings for the third quarter 2015 to be in the range of $1.56 to $1.60 per share versus 2014 non-GAAP earnings of $1.58 per share.

Carnival Corporation and plc Appoint Tara Russell as President of Fathom and Global Impact Lead

Carnival Corporation & plc named Tara Russell president of fathom and Global Impact Lead. In this newly created role, Russell will oversee all aspects of fathom, a new brand from Carnival Corporation whose unique business model for sustained impact and lasting development creates a brand with size, scale and global vision that reaches beyond what the world has ever seen. Under Russell's direction, fathom will offer travelers unique opportunities to become immersed in another culture, work alongside its people to create enduring, life-changing impact, and build community with like-minded travelers – all on a scale never before seen. As the corporation's Global Impact Lead, she will work with Carnival Corporation's 10 brands on social impact strategies and opportunities. Russell generated the idea and vision for fathom in 2013 and has been working since January 2014 to research, design and develop the brand's business model. Russell is a 20-year veteran of the global private and public sectors, and has worked internationally for companies including General Motors, Nike and Intel. At GM, she was chosen to represent Saturn Corporation in the Shanghai GM New Vehicle Build & Launch Project in 1999 in China. Prior to joining the Carnival Corporation family, Russell founded and served as CEO of Create Common Good, a non-profit helping people achieve self-sufficiency and financial independence by providing foodservice job training through a business-to-business food production model.

Carnival Corporation & Plc Expands Presence in Caribbean with $85 Million Port in Dominican Republic

Carnival Corporation & Plc announced it will begin newly developed Amber Cove port in the Dominican Republic beginning October 2015. Six of Carnival Corporation's nine brands will call on Amber Cove along the country's Amber Coast partial filming location for the original Jurassic Park movie to give cruise passengers another exotic location to explore as part of their vacation experience. With the opening of the new Amber Cove port, passengers will be able to make stops along the Dominican Republic's north Amber Coast. It will open expanded itinerary options in the Caribbean and will pair with the company's Grand Turk Cruise Center [3] only 100 miles to the north to anchor new central Caribbean itineraries for Carnival's nine global brands. In looking to the future, the port is strategically located to be incorporated into itineraries featuring potential stops in Cuba. The new $85 million facility represents the large cruise industry investment ever made in the Dominican Republic, and will feature a two-berth port able to accommodate the large cruise vessels in operation. Carnival Corporation has monitored the various stages of the port's construction progress with the use of drones, an innovative development that is being used for the first time as part of the company's port development process. The facility, a joint project between Carnival Corporation and the Rannik family of Grupo B&R, is expected to host more than 250,000 cruise passengers in its first year of operation. It will provide approximately 430 local jobs. The port will open with a visit from Carnival Victory from the company's Carnival Cruise Line brand on October 6, 2015. Additional ships from the company's brands are scheduled to call on the port in late 2015 and through 2016 including Carnival Cruise Line's Fantasy, Splendor, Valor, Sunshine, Conquest and Breeze and Holland America Line's Nieuw Amsterdam. These visits will consist of 57 calls by 13 different ships across the six brands taking place between October 2015 and April 2016, accounting for more than 155,000 guests during this period. This new port facility in the Dominican Republic underscores the company's focus on creating great vacation experiences, as passengers sailing the Caribbean will have an exciting new destination to visit. It will also give Carnival Corporation's nine global cruise brands the ability to create more diverse itineraries, another important part of the cruise experience. More than 60% of cruisers are repeat passengers, and offering robust itineraries keeps the experience fresh and engaging for them.

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