Accuracy Coverage Pricing Help Centre Contact

Carnival Corporation 2012 Final Results

Investment Tools Ltd.
Carnival Corporation 2012 Final Results


4Q and Full Year Highlights

* 4Q net revenue yields in constant dollars decreased 4.5% compared to the prior year,
which was better than the company's September guidance, down 5 to 6%
* 4Q net cruise costs, excluding fuel, per available lower berth day ("ALBD") decreased
0.9% in constant dollar, less than September guidance, down 2 to 3%
* 4Q non-GAAP earnings per share (diluted) of $0.13, compared to $0.28 for the prior year
* Full year non-GAAP earnings per share (diluted) of $1.88, compared to $2.42 for the
prior year
* Unfavorable changes in fuel prices and currency exchange rates reduced full year 2012
earnings by $300 million or $0.39 per share, compared to the prior year.

2013 Outlook

* Since September, booking volumes for the first three quarters, including Costa, are
running in line with the strong volumes experienced last year at slightly lower prices
* At this time, cumulative advance bookings for 2013 continue to be behind the prior year
at slightly lower prices
* Net revenue yields on a constant dollar basis for full year 2013 expected to be up 1 to
2%
* Net cruise costs excluding fuel per ALBD for full year 2013 expected to be up 1 to 2%
on a constant dollar basis
* Full year 2013 non-GAAP earnings per share (diluted) expected to be in the range of
$2.20 to $2.40, compared to $1.88 for 2012
* 1Q 2013 non-GAAP earnings per share (diluted) expected to be in the range of $0.03 to
$0.07, compared to $0.02 in 1Q 2012

Chairman and Chief Executive Officer Micky Arison commenting on these results:

"As a result of the Costa Concordia tragedy in January, the past year has been the most challenging in our company's history. However, through the significant efforts of our brand management teams, we were able to maintain full year 2012 net revenue yields (excluding Costa)
in line with the prior year. In addition, we drove down net cruise costs, excluding fuel,
slightly and fuel consumption by four percent."

"Cash from operations of $3.0 billion was more than sufficient to fund $1.8 billion in net capital investments and positioned the company with excess free cash flow to return to shareholders. Our regular quarterly dividend of $0.25 per share, combined with our recently announced special year-end dividend of $0.50 per share, will result in $1.2 billion of dividend distributions to our shareholders. Additionally, since the start of the fiscal year we purchased 3.5 million of the company's shares in the open market at a cost of $120 million."

"We remain well positioned for a recovery in 2013 and beyond evidenced by the demonstrated resilience of our global portfolio of cruise brands, as consumers continue to capitalize on cruising's superior value versus land-based vacation alternatives. We continue to focus on a measured growth strategy through the introduction of two to three new ships per year and the development of emerging cruise markets in Asia."

"Based on 2013 guidance, we estimate that cash from operations will reach $3.3 billion for the year while our capital commitments will be just $2.0 billion. As a result, we anticipate significant free cash flow in 2013, which we intend to continue to return to shareholders."

Companies mentioned

Latest News

Investment Tools Limited

Within its Year End Results announcement on 5 March 2020 the Company proposed a final dividend for the year ending 30 December 2019 of 11 pence per share.

Read more
Investment Tools Limited

In the current circumstances the Marks & Spencer Board does not anticipate making a final dividend payment for this financial year, resulting in an anticipated cash saving of c.£130m. They will review their policy at the interim results in November as visibility improves. 

Read more
Investment Tools Limited

The Group has continued to generate strong cash flows, deliver growth and build a balance sheet of increasing resilience. As a consequence, the Board has announced an interim dividend of 5.50p per ordinary share (2019: 5.50p). This dividend will be payable on 7 May 2020 to shareholders on the register on 17 April 2020. The ex-dividend date is 18 April 2020. 

Read more
Investment Tools Limited

 The intercontinental Hotels Board is withdrawing its recommendation of a final dividend of 85.9¢ (~$150m) announced on 18 February 2020 and will defer consideration of further dividends until visibility has improved.

Read more
Investment Tools Limited

In view of current uncertainty, the board has decided to cancel the interim dividend (2019: £4.2m).

Read more
Investment Tools Limited

Due to the rapidly evolving situation and the UK Government response to the impact of COVID-19, the Travis Perkins Board expects the trading environment to change quickly and materially in the coming weeks. In response to this, the Board is taking prudent decisions in order to successfully navigate this period of turmoil. These include the suspension of the proposed full-year 2019 dividend and the pausing of the Wickes demerger process in light of current extreme stock market volatility.

Read more
Investment Tools Limited

Due to the unprecedented uncertainty facing businesses around the world from Covid-19, Portmeirion are not recommending a final dividend at this time. They will review in three months and consider declaring an additional interim dividend in line with the final dividend for 2018 (29.50p). This will preserve approximately £3.1 million in forecast cash as part of Covid-19 contingency measures.

Read more
Investment Tools Limited

The OneSavingsBank Board recommends a final dividend for 2019 of 11.2 pence per share. Together with the 2019 interim dividend of 4.9 pence per share and the pre-Combination CCFS interim dividend of 4.3 pence per share, this represents 25% of pro forma underlying profit attributable to ordinary shareholders. For calculation of 2019 final dividend, see Appendix.

Read more
Investment Tools Limited

The TClarke Directors are proposing a final dividend of 3.65p (2018: 3.34p) per ordinary share totalling £1.6 million (2018: £1.4 million). Subject to approval at the Annual General Meeting, the final dividend will be paid on 22nd May 2020 to shareholders on the register as at 24th April 2020. The shares will go ex-dividend on 23rd April 2020. This dividend has not been accrued at the balance sheet date. A dividend reinvestment plan is available to shareholders.

Read more
Investment Tools Limited

The NewRiver REIT have announce their focus is on managing cash resources very carefully and maintaining liquidity in the business. The Company has £72 million of unrestricted cash reserves and £45 million of undrawn revolving credit facilities, giving available liquidity of £117 million.

Read more
More News