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Carnival Corporation & plc net income $2.8 billion

Staff Writer |
Carnival Corporation & plc announced U.S. GAAP net income for the full year 2016 of $2.8 billion.




This is or $3.72 diluted EPS, compared to $1.8 billion, or $2.26 diluted EPS, for the prior year.

Full year 2016 adjusted net income of $2.6 billion, or $3.45 adjusted EPS, was higher than adjusted net income of $2.1 billion, or $2.70 adjusted EPS, for the full year 2015.

Adjusted net income excludes unrealized gains and losses on fuel derivatives and other items, totaling $199 million in gains for the full year 2016 and $349 million of losses for the full year 2015.

Revenues for the full year 2016 were $16.4 billion, $0.7 billion higher than the $15.7 billion in the prior year.

Carnival Corporation & plc president and chief executive officer Arnold Donald noted, "We achieved the most profitable year in our company's history as well as record fourth quarter earnings.

"The continued execution of our core strategy to drive consumer demand in excess of measured capacity growth, contain costs and leverage our industry-leading scale resulted in our third consecutive year of significantly higher earnings and return on invested capital.

"The delivery of over $5 billion in cash from operations for our shareholders enabled increased dividend distributions reaching $1 billion and the investment of over $2.3 billion in the repurchase of Carnival Corporation stock.

"This continued strong performance is a credit to the outstanding contributions of our 120,000 employees worldwide who work every day to exceed our guests' expectations and our thousands of travel agent partners around the globe whose support is crucial to our success."


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