Carnival Corp has kicked-off the new year on a positive note as it boosted its earnings for the first quarter.
The New York-listed company reported US GAAP net income of $352m from December 2016 to February, compared to $142m for the same spell of 2016.
Adjusted net income for the first quarter was $279m against $301m a year earlier while revenue was up from $3.65bn to $3.79bn.
Arnold Donald, chief executive of Carnival, said: “We are off to a good start delivering another quarter of operational improvement on top of a very strong first quarter last year.
“Our performance was driven by increased demand, particularly for our core Caribbean itineraries, leading to higher year-over-year ticket prices which enabled us to overcome the significant negative impact of both fuel and currency to exceed the high end of our guidance range.”
2017optimism
Carnival has maintained a positive outlook for the remainder of the year thanks to itinerary bookings at higher prices.
The company’s strong quarterly performance comes hot on the heels of the appointment of Josh Weinstein as Carnival UK chief, replacing David Noyes.
Donald added: “We are clearly benefiting from our efforts to increase cruise consideration through guest experience innovations, creative marketing, and public relations programs.
“We are reaching consumers through multiple touch points and laying the foundation for continued earnings improvement and sustained double digit returns on invested capital.”
