Carnival PLC Files Q3 2024 10-Q
Ticker: CUKPF · Form: 10-Q · Filed: Sep 30, 2024 · CIK: 1125259
Sentiment: neutral
Topics: 10-Q, earnings, cruise-industry, financials
TL;DR
Carnival PLC's Q3 2024 10-Q is in. Expect cruise performance updates.
AI Summary
Carnival PLC filed its 10-Q for the period ending August 31, 2024. The filing details the company's financial performance and operational status. Key financial figures and operational metrics for the third quarter of fiscal year 2024 are presented, reflecting the company's ongoing activities in the cruise industry.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for Carnival PLC, crucial for understanding the company's performance and future outlook in the travel sector.
Risk Assessment
Risk Level: medium — As a large, publicly traded company in the travel industry, Carnival PLC is subject to market fluctuations, economic conditions, and operational risks inherent in its business.
Key Numbers
- 20240831 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
- 1130 — Fiscal Year End (Specifies Carnival's fiscal year-end date.)
Key Players & Entities
- Carnival PLC (company) — Filer of the 10-Q
- Carnival Corp (company) — Related entity, likely parent or former name
- August 31, 2024 (date) — End of the reporting period
- 20240831 (date) — Conformed period of report
- 3055992600 (phone_number) — Business phone for Carnival Corp
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended August 31, 2024.
What is the primary business of Carnival PLC?
Carnival PLC is primarily involved in water transportation, specifically operating cruise ships.
What is the fiscal year end for Carnival PLC?
The fiscal year end for Carnival PLC is November 30 (1130).
What are the SEC file numbers associated with Carnival's filings?
The SEC file numbers mentioned are 001-09610 for Carnival Corp and 001-15136 for Carnival PLC.
Where is Carnival PLC's business address located?
Carnival PLC's business address is located in Southampton, UK (100 Harbour Parade, Southampton SO15 1ST).
Filing Stats: 4,920 words · 20 min read · ~16 pages · Grade level 13.3 · Accepted 2024-09-30 11:31:51
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-20240831.htm (10-Q) — 1184KB
- exhibit1013q2024.htm (EX-10.1) — 40KB
- exhibit311q32024.htm (EX-31.1) — 7KB
- exhibit312q32024.htm (EX-31.2) — 7KB
- exhibit313q32024.htm (EX-31.3) — 7KB
- exhibit314q32024.htm (EX-31.4) — 7KB
- exhibit321q32024.htm (EX-32.1) — 3KB
- exhibit322q32024.htm (EX-32.2) — 3KB
- exhibit323q32024.htm (EX-32.3) — 3KB
- exhibit324q32024.htm (EX-32.4) — 3KB
- ccl-20240831_g1.jpg (GRAPHIC) — 8KB
- pdfofform10q.pdf (10-Q) — 393KB
- 0000815097-24-000071.txt ( ) — 7298KB
- ccl-20240831.xsd (EX-101.SCH) — 50KB
- ccl-20240831_cal.xml (EX-101.CAL) — 76KB
- ccl-20240831_def.xml (EX-101.DEF) — 247KB
- ccl-20240831_lab.xml (EX-101.LAB) — 593KB
- ccl-20240831_pre.xml (EX-101.PRE) — 392KB
- ccl-20240831_htm.xml (XML) — 1040KB
- 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 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 33
Controls and Procedures
Item 4. Controls and Procedures 34
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
SIGNATURES
SIGNATURES 38 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 August 31, Nine Months Ended August 31, 2024 2023 2024 2023 Revenues Passenger ticket $ 5,239 $ 4,546 $ 12,609 $ 10,557 Onboard and other 2,657 2,308 6,474 5,640 7,896 6,854 19,083 16,197 Operating Expenses Commissions, transportation and other 958 823 2,510 2,097 Onboard and other 866 752 2,043 1,785 Payroll and related 575 585 1,812 1,768 Fuel 515 468 1,546 1,492 Food 393 364 1,099 1,000 Other operating 995 928 2,796 2,546 Cruise and tour operating expenses 4,303 3,921 11,805 10,688 Selling and administrative 763 713 2,366 2,162 Depreciation and amortization 651 596 1,898 1,774 5,718 5,230 16,070 14,624 Operating Income 2,178 1,624 3,013 1,572 Nonoperating Income (Expense) Interest income 19 59 77 183 Interest expense, net of capitalized interest ( 431 ) ( 518 ) ( 1,352 ) ( 1,600 ) Debt extinguishment and modification costs ( 13 ) ( 81 ) ( 78 ) ( 112 ) Other income (expense), net ( 10 ) ( 19 ) ( 35 ) ( 67 ) ( 435 ) ( 559 ) ( 1,388 ) ( 1,595 ) Income (Loss) Before Income Taxes 1,743 1,065 1,626 ( 23 ) Income Tax Benefit (Expense), Net ( 8 ) 9 ( 13 ) ( 3 ) Net Income (Loss) $ 1,735 $ 1,074 $ 1,613 $ ( 26 ) Earnings Per Share Basic $ 1.37 $ 0.85 $ 1.27 $ ( 0.02 ) Diluted $ 1.26 $ 0.79 $ 1.21 $ ( 0.02 ) 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 August 31, Nine Months Ended August 31, 2024 2023 2024 2023 Net Income (Loss) $ 1,735 $ 1,074 $ 1,613 $ ( 26 ) Items Included in Other Comprehensive Income (Loss) Change in foreign currency translation adjustment 64 ( 17 ) 71 82 Other ( 38 ) 24 ( 26 ) 4 Other Comprehensive Income (Loss) 26 7 45 86 Total Comprehensive In
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 to confo