Carnival Plc Reports US GAAP Net Loss Of $781 Million In The First Quarter Ended February 29, 2020

Carnival Plc (LON: CCL) has released its first-quarter results for the period ended February 29, 2020.

  • The company reported US GAAP net loss of $781 million as compared to US GAAP net income for the first quarter of 2019 of $336 million.
  • The net loss of the period includes $932 million of goodwill and ship impairment charges, reduced by net gains on ship sales.
  • The first quarter 2020 adjusted net income stood at $150 million compared to adjusted net income of $338 million, for the first quarter of 2019.
  • The company has further reported that the impact of COVID-19 on the first quarter 2020 net loss is to be around $0.23 per share, including cancelled voyages and other voyage disruptions, though it excludes the impairment charges.
  • On 20th March 2020, at the time of writing, GMT 08:43 AM, CCL shares were trading at GBX 747.60, up by 10.40 points or 1.41% against the previous day closing price.