Cruise Industry News takes a look at the financial performance of the “big three” following the third quarter of 2019.
The ban on cruises to Cuba, Hurricane Dorian and some contraction in Europe left their mark on the third quarter earnings of Carnival Corporation, Royal Caribbean Cruises and Norwegian Cruise Line Holdings with voyage disruptions, itinerary changes, cancelled cruises and softer demand (Europe) taking their toll on the bottom line.
Net income was on the rise at Carnival and Royal Caribbean, but slipped at Norwegian due to higher operating expenses. Total revenue for Norwegian was flat year-over-year.
Operating expenses per day were up significantly year-over-year for all three companies.
Net income per passenger day was calculated at $69.31 for Carnival, $75.05 for Royal Caribbean and $83.63 for Norwegian. Net income per day was only up year-over-year for Royal Caribbean, however.
The Norwegian brands combined continue to command the highest average ticket prices and onboard spending per passenger. Operating expenses per day, per passenger were also higher.
The Cruise Industry Financial Tracking Report provides an in-depth look into the financial metrics of the leading cruise companies. Learn more.
Included: Carnival, Royal Caribbean, Norwegian, MSC, Star/Genting, Royal Olympic, P&O Princess, Regent, American Classical Voyages and Commodore.
Key metrics include revenue, operating expenses, operating income and net income, as well as those metrics on a per passenger day basis. We also look at EPS, fleets, berths and passenger cruise days.