Carnival Corporation & plc has announced a non-GAAP income of USD$159 million for the first quarter (Q1) of 2015, representing a significant improvement from last year’s results.
For Q1 2015, the company’s GAAP net income was USD$49 million, or USD$0.06 diluted earnings per share.
In comparison, for Q1 2014 the company recorded a GAAP net loss of USD$20 million, or USD$0.03 diluted loss per share.
Carnival Corporation & pls president and chief executive officer Arnold Donald said the results show the company is off to a strong start this year.
“Our onboard revenue initiatives drove particularly strong improvement in the first quarter with onboard yields more than 8 percent higher than prior year (constant dollar),” Mr Donald said.
He said the Carnival Cruise Line brand, in particular, continues to achieve substantial revenue yield growth and is projected for further success in 2015.
The results show Q1 2015 net revenue yields increased two per cent in comparison to Q1 2014, however, gross revenue yields decreased 3.1 per cent (in current dollars) due to currency exchange rate changes.
Net cruise costs (excluding fuel per available lower berth day) increased 2.4 percent in constant dollars due to higher dry-dock costs and advertising expenses.
As for the remainder of 2015, Carnival Corporation & plc reveal bookings are ahead of last year and are set at higher prices.
Mr Donald said the company is seeing ongoing improvement as a result of its initiatives to increase customer demand, such as public relations strategies and creative marketing campaigns.
“Our efforts to further elevate our guest experience are clearly resonating with consumers and, notably, improving the frequency and retention of our loyal guests,” he said.
The company expects to see a net revenue yield increase of three to four per cent on a constant currency basis for the full year 2015.