Carnival Corp. Closes Out a Tough Year as It Works to Burnish Its Green Image
Photo Credit: The Carnival Glory, which collided with the Carnival Legend on Dec. 20. Flickr / Sea-turtle
Skift Take
This year was a tough one for the world's largest cruise company, and Carnival executives will likely be happy to see it end. But in 2020 many of the same challenges remain, particularly in regards to sustainability.
As the largest cruise line in the world, Carnival has had a tough year. Challenging geopolitical headwinds, ship delays, three consecutive quarters of lowered forward guidance, and ongoing court proceedings for its environmental crimes mean that executives are probably glad to see 2019 come to a close.
At its full year and fourth quarter earnings call on Friday, the company regained its stride somewhat, with its fourth quarter figures beating analysts' expectations. The cruise line reported a year-end profit of $3 billion, down from $3.2 billion in 2018. Revenues reached a record $20.8 billion, up 9 percent from $18.9 in 2018.
For the fourth quarter, profit was $423 million, down from $494 million in 2018. But revenue rose 7 percent to $4.8 billion. Adjusted earnings per share were $0.62; analysts were expecting $0.50 and $4.6 billion in revenue. The company further reported it is entering 2020 with record booked occupancy levels.
'Unusual Events'
Carnival CEO Arnold Donald rep
