Miami Carnival 2010
October 10, 2010 by staff
The cruise operator has also raised its annual forecast results well above expectations on Wall Street Tuesday, sending its shares up 51 cents, or 1.4 percent, and 37.57.
The owner of Princess, Holland America Cruise Lines and its the same name and earned 1.3 billion, or 1.62 euro per share, for the period ended Aug. 31. This represents an increase from 1.07 billion, or 1.33 per share, in the same period last year.
The performance easily surpassed the 1.47 per share predicted byanlysts polled by Thomson Reuters.
Ticket prices and strong demand for good health during the summer season, traditionally strong quarterly results helped, as president and CEO Micky Arison.
Summer is often a time for the holidays, as many families plan their trips to the end of the school year for their children. Others like to build travel through the summer and enjoy the warm weather that usually sweeps across the U.S. and abroad.
JPMorgan said Kevin Milota performance Carnival has also received a boost from cost reduction.
“We remain positive on the fundamentals of the cruise industry and believe that all key buckets for the Carnival of outperformance are oriented in the right direction,” theanlyst wrote in a note to clients.
Milota reiterated an “overweight” rating.
Revenues rose 7 percent to 4.43 billion, meeting the expectations of Wall Street. It was the third consecutive quarterly increase.
A system for measuring key revenue also rose 6.2 percent on a constant dollar basis; slightly above Carnival expected 5 percent to 6 percent increase. The number of performance measures net income or the amount a company makes its cruise passengers after removing the charge.
While fuel prices increased 17 percent to 473 per tonne, they were still lower than the $ 493 per metric ton forecast that the carnival in June.
For the future, the company now expects 2010 and a net profit of 2.48 to 2.52 per share, from prior guidance of $ 2.25 to 2.35 per share.
Analysts expect full-year earnings of 2.36 per share for the company based in Miami.
Carnival said booking throughout the rest of 2010 and the first half of 2011 are ahead of 2009 at prices similar to last year.
“Consumers continue to adopt the holiday as an escape if necessary to the rigors of daily life, while cruising remains a more attractive option for those seeking greater value for money vacation,” said Arison.
Although consumers are still on holiday during uncertain economic progress, many have opted for shorter trips or selected places cheaper, like the Caribbean, in an attempt to save a little money.
In the fourth quarter, Carnival expects earnings between 32 cents and 36 cents per share. It is in the range of the estimate of 36 cents per shareanlysts.
Chief Operating Officer Howard Frank said during the conference call that the company Carnival has been an increase in prices and a slight improvement in occupancy of its brands in North America over the last six weeks. Prices are also up to its European brands, occupancy at the same level a year earlier.
Carnival has 97 ships with 11 new ships scheduled for delivery by May 2014.
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