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» Cruise Talk   » Cruise Lines   » Fuel Costs Hurt Carnival's 1st Quarter Net Income

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Author Topic: Fuel Costs Hurt Carnival's 1st Quarter Net Income
joe at travelpage
Administrator
Member # 622

posted 03-22-2011 03:47 PM      Profile for joe at travelpage   Author's Homepage   Email joe at travelpage   Send New Private Message      Edit/Delete Post  Reply With Quote 
From the AP:

Higher-than-expected fuel prices pushed Carnival Corp.'s first-quarter profit down 13 percent, but the cruise operator managed to meet Wall Street's earnings expectations thanks to cutting other costs.

But Carnival shares fell 4 percent in midday trading Tuesday as the company behind the Holland America Line, Princess Cruises, Carnival Cruise Lines and Costa Cruises brands reduced its full-year earnings guidance to a range below analysts' expectations.

For the period ended Feb. 28, Carnival reported net income of $152 million, or 19 cents per share, down from $175 million, or 22 cents per share, a year ago.

Wall Street was already anticipating the results, as the Miami company had provided its quarterly expectations earlier this month.

Carnival said its performance benefited from lower than-expected costs that helped offset fuel prices that rose 9 percent. The prior-year period included an unusual benefit of 10 cents per share.

Revenue climbed 8 percent to $3.42 billion from $3.18 billion on higher ticket prices and passengers spending more on board its ships. Analysts expected revenue of $3.28 billion.

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Posts: 29976 | From: Great Falls, Virginia | Registered: A Long Time Ago!  |  IP: Logged
Malcolm @ cruisepage
Cruise Director
Member # 301

posted 03-22-2011 04:00 PM      Profile for Malcolm @ cruisepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
Joe, I bet that you are glad that you do not have to pay UK prices for your gas!

"Growing unrest in the Middle East has had a dramatic effect on the price of oil. Libya, which has the largest oil reserves in Africa, has had a huge impact on the price of crude oil, which recently reached $100 per barrel. Consequently, the price of gasoline (petrol) has skyrocketed to $3.20 per gallon in the US. While, in the UK, the average price of unleaded fuel has reached £1.33 per liter (approximately $9.77 per gallon)".

(BBC)


Posts: 19210 | From: Essex (Just Outside London) | Registered: A Long Time Ago!  |  IP: Logged
buddhaJoe
First Class Passenger
Member # 4356

posted 03-22-2011 04:51 PM      Profile for buddhaJoe   Email buddhaJoe   Send New Private Message      Edit/Delete Post  Reply With Quote 
well it can allways be worse

we pay up to 1.47 UK pounds for a litre...

i wonder if there are countries with even higher
prices..???

best regards
Joe


Posts: 366 | From: De Goorn, small village in The Netherlands | Registered: Jan 2004  |  IP: Logged
Malcolm @ cruisepage
Cruise Director
Member # 301

posted 03-22-2011 07:19 PM      Profile for Malcolm @ cruisepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
well it can allways be worse

we pay up to 1.47 UK pounds for a litre...

i wonder if there are countries with even higher
prices..???


See Here


Posts: 19210 | From: Essex (Just Outside London) | Registered: A Long Time Ago!  |  IP: Logged

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