Carnival Corporation is the world’s largest leisure travel company that organises around-the-globe vacations for millions of people annually. The company operates a number of high-profile cruise line brands, including Carnival Cruise Line, Princess Cruises, Holland America, Seabourn and Fathom in North America; AIDA Cruises in Germany; Costa Cruises in Italy; and P&O Cruises in England. Together these brands, comprising 102 ships, travel to 700 ports across the globe and represent the world’s biggest cruise company.
Carnival Corporation is included in the Fortune 500 and the Forbes Global 2000 list of successful companies. To see how Carnival stock is doing, check out our CCL chart.
Arnold W. Donald has been President and Chief Executive Officer of Carnival Corporation since 2013. Before that, he worked for many years at Monsanto. Donald is credited with turning round Carnival’s reputation and market value after the Costa Concordia disaster of 2012. He launched reviews of Carnival’s culture and operations, and pushed forward a modernisation agenda.
Other senior executives to watch include Chief Financial Officer David Bernstein and Chief Strategy Officer Josh Leibowitz. Micky Arison has been Chairman of the Board of Directors of Carnival Corporation since 1990. He was Donald’s predecessor as CEO and son of the company’s co-founder.
Carnival Cruise Line was launched in 1972 by the late Ted Arison, with just one second-hand ship and only enough fuel for a one-way trip from Miami to San Juan. From such inauspicious beginnings the company grew into the self-styled “World’s Most Popular Cruise Line”, and in 1987 it launched an IPO that provided the influx of capital necessary for a programme of expansion through acquisition.
The name Carnival Corporation was adopted in 1994 to distinguish the parent company from its flagship cruise line subsidiary. Notable acquisitions over the following years included luxury operator Cunard Line in 1998, and in 2003 agreements were finalised to combine Carnival Corporation with P&O Princess Cruises plc.
For 2017 Carnival Corporation reported adjusted net income of $2.8 billion, up from $2.6 billion for the full year 2016. Adjusted earnings per share were $3.82 compared with $3.45 the previous year. Revenues for the full year 2017 were $17.5 billion, some $1.1 billion higher than the $16.4 billion in 2016.
Hailing the results, CEO Arnold Donald said: “Our full year performance was led by over 4.5 per cent growth in ticket prices while overcoming a variety of headwinds, affirming that our core strategy […] can deliver consistent earnings improvements."
Cruising is one of the fastest growing segments in the travel & tourism industry, and Carnival Corporation continues to respond to that with new orders. In January 2018, Carnival announced that it had signed a shipbuilding contract for a second next-generation cruise ship for its P&O Cruises brand with German shipbuilder Meyer Werft GmBH. The vessel will be the biggest cruise ship to be built specifically for the UK market, and it’ll accommodate some 5,200 guests. The new ship is part of Carnival's fleet enhancement strategy, with 19 new ships scheduled for delivery from 2018-22.
You can find out the latest Carnival share price here at Capital.com.
Carnival Corporation employs over 120,000 people around the world; the company is headquartered in Miami, Florida, and London, England. Carnival established its Asia HQ in Singapore in 2013 and now operates numerous offices across Asia, including locations in China.
Carnival Corporation’s stock is dually listed on both the New York Stock Exchange (NYSE) and London Stock Exchange (LSE), and is the only group in the world to be a constituent of both the S&P 500 and the FTSE 100 indices. Check out Capital.com for the latest CCL chart.
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