Carnival PLC Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Carnival PLC has submitted its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

CARNIVAL PLC (CUKPF) filed a Quarterly Report (10-Q) with the SEC on March 27, 2024. Carnival PLC filed a 10-Q report for the period ending February 29, 2024. The filing covers the first quarter of the fiscal year 2024. Carnival Corporation is also listed with a Central Index Key of 0000815097. The company's fiscal year ends on November 30th. Key addresses and phone numbers for both Carnival Corporation and Carnival PLC are provided.

Why It Matters

For investors and stakeholders tracking CARNIVAL PLC, this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Carnival PLC during the first quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, debt levels, and overall business trajectory in the cruise industry.

Risk Assessment

Risk Level: low — CARNIVAL PLC shows low risk based on this filing. The filing is a standard 10-Q report, indicating routine financial disclosure rather than an event-driven filing that might signal higher risk.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Carnival PLC's performance and outlook for the current fiscal year.

Key Numbers

• 2024-02-29 — Period End Date (The 10-Q covers financial information up to this date.)
• 2024-03-27 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 1130 — Fiscal Year End (Carnival's fiscal year concludes on November 30th.)
• 0000815097 — Central Index Key (Identifier for Carnival Corporation.)
• 0001125259 — Central Index Key (Identifier for Carnival PLC.)

Key Players & Entities

• CARNIVAL PLC (company) — Filer of the 10-Q report
• CARNIVAL CORP (company) — Another entity associated with the filing
• 2024-02-29 (date) — End of the reporting period
• 2024-03-27 (date) — Filing date
• MIAMI (location) — Business address for Carnival Corporation
• SOUTHAMPTON (location) — Business address for Carnival PLC

FAQ

Industry Context

Carnival PLC operates within the global cruise line industry, a sector heavily influenced by consumer discretionary spending, global travel trends, and regulatory environments.

Regulatory Implications

The cruise industry is subject to various maritime regulations, safety standards, and environmental compliance requirements enforced by international and national bodies.

What Investors Should Do

1. Analyze the revenue and expense details in the 10-Q to understand the company's profitability drivers.
2. Examine the balance sheet for current asset, liability, and equity positions to assess financial stability.
3. Review any disclosures regarding debt, liquidity, and cash flow to evaluate the company's financial flexibility.

Key Dates

• 2024-02-29: End of Reporting Period — Marks the conclusion of the financial data presented in the 10-Q.
• 2024-03-27: Filing Date — The official date the 10-Q was submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the period ending February 29, 2024.

Key Financial Figures

• $0.01 — ange on which registered Common Stock ($0.01 par value) CCL New York Stock Exchange
• $1.66 — resented by American Depositary Shares ($1.66 par value) , Special Voting Share, GBP

Filing Documents

• ccl-20240229.htm (10-Q) — 922KB
• exhibit311q12024.htm (EX-31.1) — 7KB
• exhibit312q12024.htm (EX-31.2) — 7KB
• exhibit313q12024.htm (EX-31.3) — 7KB
• exhibit314q12024.htm (EX-31.4) — 7KB
• exhibit321q12024.htm (EX-32.1) — 3KB
• exhibit322q12024.htm (EX-32.2) — 3KB
• exhibit323q22024.htm (EX-32.3) — 3KB
• exhibit324q12024.htm (EX-32.4) — 3KB
• ccl-20240229_g1.jpg (GRAPHIC) — 8KB
• pdfofform10q.pdf (10-Q) — 373KB
• 0000815097-24-000035.txt (&nbsp;) — 6184KB
• ccl-20240229.xsd (EX-101.SCH) — 44KB
• ccl-20240229_cal.xml (EX-101.CAL) — 71KB
• ccl-20240229_def.xml (EX-101.DEF) — 228KB
• ccl-20240229_lab.xml (EX-101.LAB) — 532KB
• ccl-20240229_pre.xml (EX-101.PRE) — 356KB
• ccl-20240229_htm.xml (XML) — 817KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31

SIGNATURES

SIGNATURES 33 3 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements . CARNIVAL CORPORATION & PLC CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) (in millions, except per share data) Three Months Ended February 29/28, 2024 2023 Revenues Passenger ticket $ 3,617 $ 2,870 Onboard and other 1,790 1,563 5,406 4,432 Operating Expenses Commissions, transportation and other 819 655 Onboard and other 550 484 Payroll and related 623 582 Fuel 505 535 Food 346 311 Other operating 862 743 Cruise and tour operating expenses 3,705 3,311 Selling and administrative 813 712 Depreciation and amortization 613 582 5,131 4,604 Operating Income (Loss) 276 ( 172 ) Nonoperating Income (Expense) Interest income 33 56 Interest expense, net of capitalized interest ( 471 ) ( 539 ) Debt extinguishment and modification costs ( 33 ) — Other income (expense), net ( 18 ) ( 30 ) ( 489 ) ( 514 ) Income (Loss) Before Income Taxes ( 214 ) ( 686 ) Income Tax Benefit (Expense), Net — ( 7 ) Net Income (Loss) $ ( 214 ) $ ( 693 ) Earnings Per Share Basic $ ( 0.17 ) $ ( 0.55 ) Diluted $ ( 0.17 ) $ ( 0.55 ) The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Contents CARNIVAL CORPORATION & PLC CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (in millions) Three Months Ended February 29/28, 2024 2023 Net Income (Loss) $ ( 214 ) $ ( 693 ) Items Included in Other Comprehensive Income (Loss) Change in foreign currency translation adjustment — ( 3 ) Other 1 14 Other Comprehensive Income (Loss) 1 11 Total Comprehensive Income (Loss) $ ( 213 ) $ ( 682 ) The accompanying notes are an integral part of these consolidated financial statements. 5 Table of Contents CARNIVAL CORPORATION & PLC CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except par values) February 29, 2024 November 30, 2023 ASSETS Current Assets Cash and cash equivalents $ 2,242 $ 2,415 Trade and other receivables, net 644 556 Inventories 531 52

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 – General The consolidated financial statements include the accounts of Carnival Corporation and Carnival plc and their respective subsidiaries. Together with their consolidated subsidiaries, they are referred to collectively in these consolidated financial statements and elsewhere in this joint Quarterly Report on Form 10-Q as "Carnival Corporation & plc," "our," "us" and "we." Basis of Presentation The Consolidated Statements of Income (Loss), the Consolidated Statements of Comprehensive Income (Loss), the Consolidated Statements of Cash Flows and the Consolidated Statements of Shareholders' Equity for the three months ended February 29/28, 2024 and 2023, and the Consolidated Balance Sheet at February 29, 2024 are unaudited and, in the opinion of our management, contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted as permitted by such Securities and Exchange Commission rules and regulations. The preparation of our interim consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed. We have made reasonable estimates and judgments of such items within our financial statements and there may be changes to those estimates in future periods. Our operations are seasonal and results for interim periods are not necessarily indicative of the results for the entire year. Our interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Carnival Corporation & plc 2023

View Full Filing

View this 10-Q filing on SEC EDGAR