Cruising 2016 Exhibits a Strong Bill of First Quarter Financial Health
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Norwegian Cruise Line Holdings Ltd. released its first quarter 2016 financial results today, and looking at them combined with those from Carnival Corporation and Royal Caribbean Cruises Ltd., the cruise industry is doing very well this year. The big three are broken down individually below.
As Carnival Cruise Line’s new Carnival Vista, Holland America Line’s new Koningsdam and AIDA Cruises’ new AIDAprima come online, Carnival Corporation also anticipates Seabourn Cruise Line’s new Seabourn Encore late this year. Among so many new cruise ships, the company reports adjusted net income of $301 million in the first quarter of 2016 compared to last year’s $159 million during the same period.
Carnival Corp. & plc President and Chief Executive Officer Arnold Donald said, “Our teams delivered another strong quarter of operational improvement by creating increased demand for our brands and leveraging our scale which resulted in revenue yield improvement approaching 6 percent and the near doubling of first quarter adjusted earnings. We thank our millions of loyal guests and valued travel professional partners around the globe for their patronage and support.”
Also of recent note, Carnival Corp. is now the first U.S.-based cruise company in over five decades to be given approval to sail to Cuba from the States with its Fathom brand and Adonia ship. Corporately, future reservations in 2016 are significantly above those from last year plus at increased fares. The company’s stock is currently trading at $49.66 versus $46.23 at this time in 2015.
Donald added, “Our ongoing guest experience innovations, coupled with our increasingly effective marketing and communication efforts have driven additional demand for our brands, resulting in a strong booked position. The lower levels of inventory remaining for sale for the balance of the year, particularly for our peak summer period, positions our brands well for continued revenue yield growth and builds confidence in our full year earnings forecast.”
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