Carnival Corporation & plc reports Q4 and full year earnings

Carnival Corporation & plc announced financial results for the full year and fourth quarter ended November 30, 2019 and provided an outlook for the full year and first quarter 2020.

Key Highlights

Full Year 2019
U.S. GAAP net income of $3.0 billion, or $4.32 diluted EPS, for the full year 2019, compared to U.S. GAAP net income for the full year 2018 of $3.2 billion, or $4.44 diluted EPS.
Record full year 2019 adjusted net income of $3.0 billion, or $4.40 adjusted EPS, compared to adjusted net income of $3.0 billion, or $4.26 adjusted EPS, for the full year 2018.
Adjusted net income excludes net charges of $52 million for the full year 2019 and net gains of $123 million for the full year 2018.
Record total revenues for the full year 2019 were $20.8 billion, higher than $18.9 billion for the full year 2018.​
Gross cruise revenues of $20.4 billion, higher than $18.6 billion for the prior year.
In constant currency, net cruise revenues of $16.0 billion, higher than $15.4 billion for the prior year, an increase of 4.0 percent.

Fourth Quarter 2019
U.S. GAAP net income of $423 million, or $0.61 diluted EPS, for the fourth quarter of 2019, compared to U.S. GAAP net income for the fourth quarter of 2018 of $494 million, or $0.71 diluted EPS.
Fourth quarter 2019 adjusted net income of $427 million, or $0.62 adjusted EPS, compared to adjusted net income of $492 million, or $0.70 adjusted EPS, for the fourth quarter of 2018.
Adjusted net income excludes net charges of $5 million for the fourth quarter of 2019 and net gains of $2 million for the fourth quarter of 2018.
Record total revenues for the fourth quarter of 2019 were $4.8 billion, higher than $4.5 billion for the fourth quarter of 2018.​
Gross cruise revenues of $4.7 billion for the fourth quarter of 2019, higher than $4.4 billion for the fourth quarter of 2018.
In constant currency, net cruise revenues of $3.7 billion compared to $3.7 billion for the fourth quarter of 2018, an increase of 0.5 percent.

Fourth Quarter 2019 results​
Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted, "Exceeding our fourth quarter guidance enabled us to have strong full year earnings per share and another year of record adjusted earnings. We overcame a high number of unusual events compounded by a significant downturn in leisure travel demand for our large source markets in Continental Europe. In that environment, to achieve record revenues and adjusted earnings is an accomplishment for any consumer company, a credit to our 150,000 team members and demonstrates the robustness of our business model."