Carnival PLC Files 10-Q for Period Ending May 31, 2024

TL;DR

**Carnival PLC 10-Q filed for Q2 2024. Financials and operations detailed.**

AI Summary

Carnival PLC filed its 10-Q for the period ending May 31, 2024. The filing details the company's financial performance and operational status. Key financial figures and business segments are outlined, providing insight into the cruise line's current standing.

Why It Matters

This filing provides investors and stakeholders with crucial, up-to-date financial information and operational details for Carnival PLC, impacting investment decisions and market perception.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial performance, market conditions, and operational challenges in the travel industry.

Key Numbers

• 20240531 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240627 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Carnival PLC (company) — Filer of the 10-Q
• Carnival Corp (company) — Related entity, previously known as Carnival Cruise Lines Inc.
• P&O Princess Cruises PLC (company) — Former name of a related entity
• 20240531 (date) — End of the reporting period
• 20240627 (date) — Filing date

FAQ

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-20240531.htm (10-Q) — 1180KB
• exhibit1012q2024.htm (EX-10.1) — 1531KB
• exhibit102q22024.htm (EX-10.2) — 1562KB
• exhibit103q22024.htm (EX-10.3) — 719KB
• exhibit104q22024.htm (EX-10.4) — 37KB
• exhibit105q22024.htm (EX-10.5) — 70KB
• exhibit106q22024.htm (EX-10.6) — 148KB
• exhibit107q22024.htm (EX-10.7) — 44KB
• exhibit311q22024.htm (EX-31.1) — 7KB
• exhibit312q22024.htm (EX-31.2) — 7KB
• exhibit313q22024.htm (EX-31.3) — 7KB
• exhibit314q22024.htm (EX-31.4) — 7KB
• exhibit321q22024.htm (EX-32.1) — 3KB
• exhibit322q22024.htm (EX-32.2) — 3KB
• exhibit323q22024.htm (EX-32.3) — 3KB
• exhibit324q22024.htm (EX-32.4) — 3KB
• ccl-20240531_g1.jpg (GRAPHIC) — 8KB
• image_0.jpg (GRAPHIC) — 0KB
• image_0b.jpg (GRAPHIC) — 0KB
• image_1.jpg (GRAPHIC) — 0KB
• image_1b.jpg (GRAPHIC) — 0KB
• pdfofform10q.pdf (10-Q) — 429KB
• 0000815097-24-000057.txt ( ) — 11860KB
• ccl-20240531.xsd (EX-101.SCH) — 46KB
• ccl-20240531_cal.xml (EX-101.CAL) — 73KB
• ccl-20240531_def.xml (EX-101.DEF) — 222KB
• ccl-20240531_lab.xml (EX-101.LAB) — 566KB
• ccl-20240531_pre.xml (EX-101.PRE) — 369KB
• ccl-20240531_htm.xml (XML) — 1006KB

- 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 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 35

SIGNATURES

SIGNATURES 37 3 Table of Content

- 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 May 31, Six Months Ended May 31, 2024 2023 2024 2023 Revenues Passenger ticket $ 3,754 $ 3,141 $ 7,370 $ 6,011 Onboard and other 2,027 1,770 3,817 3,332 5,781 4,911 11,187 9,343 Operating Expenses Commissions, transportation and other 732 619 1,552 1,274 Onboard and other 628 549 1,178 1,033 Payroll and related 614 601 1,237 1,183 Fuel 525 489 1,030 1,024 Food 360 325 706 636 Other operating 938 875 1,800 1,619 Cruise and tour operating expenses 3,798 3,457 7,502 6,768 Selling and administrative 789 736 1,603 1,448 Depreciation and amortization 634 597 1,247 1,179 5,221 4,791 10,352 9,394 Operating Income (Loss) 560 120 836 ( 52 ) Nonoperating Income (Expense) Interest income 25 69 58 124 Interest expense, net of capitalized interest ( 450 ) ( 542 ) ( 921 ) ( 1,082 ) Debt extinguishment and modification costs ( 33 ) ( 31 ) ( 66 ) ( 31 ) Other income (expense), net ( 7 ) ( 17 ) ( 25 ) ( 47 ) ( 464 ) ( 522 ) ( 953 ) ( 1,036 ) Income (Loss) Before Income Taxes 96 ( 402 ) ( 118 ) ( 1,087 ) Income Tax Benefit (Expense), Net ( 5 ) ( 5 ) ( 5 ) ( 13 ) Net Income (Loss) $ 92 $ ( 407 ) $ ( 123 ) $ ( 1,100 ) Earnings Per Share Basic $ 0.07 $ ( 0.32 ) $ ( 0.10 ) $ ( 0.87 ) Diluted $ 0.07 $ ( 0.32 ) $ ( 0.10 ) $ ( 0.87 ) The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Content CARNIVAL CORPORATION & PLC CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (in millions) Three Months Ended May 31, Six Months Ended May 31, 2024 2023 2024 2023 Net Income (Loss) $ 92 $ ( 407 ) $ ( 123 ) $ ( 1,100 ) Items Included in Other Comprehensive Income (Loss) Change in foreign currency translation adjustment 7 102 7 99 Other 11 ( 33 ) 12 ( 19 ) Other Comprehensive Income (Loss) 18 69 19 79 Total Comprehensive I

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 accompanying consolidated financial statements 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 joint Annual Report on Form 10-K ("Form 10-K") filed with the U.S. Securities and Exchange Commission ("SEC") on January 26, 2024. For 2023, we reclassified $ 11 million from restricted cash to prepaid expenses and other in the Consolidated Balance Sheets and $ 94

View Full Filing

View this 10-Q filing on SEC EDGAR