More Capacity Drives Q3 Earnings for Carnival

Carnival Corporation posted a year-over-year 17 percent increase in net income for its Q3 ended Aug. 31, 2016, on a 4.4 percent increase in revenue.

Net earnings were $1,4 billion, or $1.93 per share, on revenues of $5.1 billion this year, compared to net earnings of $1.2 billion, or $1.56 per share, on revenues of $4.9 billion last year.

The increase was largely driven by more capacity. Excluding the impact of fuel deratives and fewer outstanding shares (share buy backs), Carnival would have posted earnings per share of $1.88 this year, compared to $1.82 last year.

Net revenue per passenger day for this year’s Q3 was $180.30, down from $180.38 last year.

Net ticket revenue this year was $137.76 per passenger day, compared to $137.93 last year.

Net onboard and other spend was $42.55 this year and $42.45 last year.

The Carnival brands carried 3,265,000 passengers this year for 22,917,000 passenger cruise days, up from 3,068,000 passengers last year and 21,953,000 passenger cruise days.

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