Carnival Lowers Full-Year Forecast as Hurricane Season Looms
Photo Credit: Carnival Conquest is shown returning to San Juan in November of 2017. Parent company Carnival Corp. said itineraries sailing out of the Puerto Rican port have been struggling. Carnival Cruise Line
Skift Take
Carnival's shares took a beating Monday after the company lowered its forecast for the full year. Executives pointed out the reason was a hit from fuel and currency, not a lack of demand. That said, they (and the rest of the travel industry) could really use a quiet hurricane season this year.
Last year's deadly hurricane season continues to be a drag for the world's largest cruise company — which is not great news, considering this year's season is already under way.
Carnival Corp. on Monday said during an earnings call that cumulative bookings for the Caribbean on North American brands are behind last year's levels at lower prices.
"Given the negative news flow from Puerto Rico, the hurricane impact continues to affect the Southern Caribbean itinerary," David Bernstein, Carnival's chief financial officer, told analysts. He said the lower prices are driven primarily by itineraries out of San Juan, where Carnival Cruise Line bases a ship and sources many passengers. The company is seeing improving trends in the Eastern Caribbean, he said.
The comments came as the cruise operator trumpeted record performance for the second
