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Shares of Carnival Corp.
are trading down over two percent following its second quarter earnings release on Tuesday.
Below are some highlights and key takeaways from its conference call:
• And so first of all, it feels like we've turned a bit of a corner.
• We achieved not only better than expected results for the second quarter, but we also achieved year-over-year earnings growth.
International Growth:
• We were pleased to see our European brands revenue yields turn positive
• Favorable pricing trends emerging not only in Europe but in North America as well.
• Every effort to maintain pricing integrity despite aggressive price moves by
other cruise lines, even if it means giving up a little more occupancy than
we had planned.
• Capacity growth in both Asia and Australia is up
mid to high teens next year
• We were the first major cruise company to enter
China.
• we have home ported in China now for over eight years and we
can feel the momentum building.
• During the quarter we announced deploying a
fourth ship to serve the fast-growing China market next year.
• Announced the transfer of two smaller Holland America ships
to support the growth of the P&O Australia brand.
• Also made significant progress on a number of strategic initiatives this quarter, which
we expect will improve our operating performance going forward.
• Absorbed the smaller Ibero Cruises brand in Spain into the Costa brand by
the end of the year.
• Costa's had a leading presence in Spain for many years
and is already well-established there.
• We believe the Costa brand can serve
our Spanish guests, exceeding their cruise vacation expectations while
improving efficiency for our company.
Programs and Inititaives:
• Carnival Cruise Lines launched the first of its Carnival Live
concert series this past quarter with a number of sold-out performances.
• In
fact, just last week Jennifer Hudson performed sold-out shows on board two of
our ships in Cozumel.
• We have received great feedback on the guest
experience
• In March, we also officially launched our Foos At Sea [ph] program on
Carnival Splendor and in May debuted a new marine-themed children's program,
Carnival's Camp Ocean [ph] onboard Carnival Freedom.
• Both programs are
extremely popular with our family segment and will be rolled out fleet-wide
across the Carnival brand.
• Increasing our fuel efficiency fleet-wide continues to be a
cornerstone of our strategy to improve returns.
• We remain on track in our
effort to reduce fuel consumption by 25% in 2014 when compared to 2007.
• We have made progress on a number of other initiatives to leverage our scale
as well.
• Our brand segmentation study is well underway and we are
conducting conversations with thousands of consumers, both cruisers and
non-cruisers,
• We've reviewed 30 million guest records to understand what
our guests love about our brands and what we can do to increase loyalty
across our portfolio.
• We believe it to be the largest ever quantitative
market research study of the cruise and leisure market.
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