Carnival Corp. said
Friday that its first-quarter net income rose to $49 million from $20 million the year
declined to $3.5 billion from $3.6 billion.
“The year is off to a
strong start, achieving significantly higher earnings than the prior year and
our previous guidance,” said CEO Arnold Donald in a statement.
"Our onboard revenue initiatives drove particularly strong improvement in
the first quarter with onboard yields more than 8% higher than prior
consumption and fuel prices both declined, changes in currency exchange rates
reduced earnings by about 6 cents a share, which is equivalent to the entire
profit in the quarter.
Carnival said that since December, unfavorable currency exchange rates have
reduced full year 2015 earnings expectations by $219 million, or 28 cents per
share. It said this impact has been significantly offset by
the improvement in operating performance, resulting in just
a nickel reduction in its earnings forecast since the December
Carnival said it expects to earn $2.30 to $2.50 per share in 2015 on a non-GAAP
accounting basis, compared up from $1.93 per share last year.