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Carnival Plc (CUK) SEC Filing 10-Q Quarterly report for the period ending Thursday, August 31, 2017

Carnival Plc

CIK: 1125259 Ticker: CUK
Exhibit 99.1

CARNIVAL CORPORATION & PLC REPORTS THIRD QUARTER EARNINGS
GAAP earnings per share down 5%, adjusted earnings per share up nearly 20%
MIAMI (September 26, 2017) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced U.S. GAAP net income of $1.3 billion, or $1.83 diluted EPS, for the third quarter of 2017 compared to U.S. GAAP net income for the third quarter of 2016 of $1.4 billion, or $1.93 diluted EPS. Third quarter 2017 adjusted net income of $1.7 billion, or $2.29 adjusted EPS, was higher than adjusted net income of $1.4 billion, or $1.92 adjusted EPS, for the third quarter of 2016. Adjusted net income excludes unrealized gains on fuel derivatives of $65 million and impairments and other net charges of $395 million for the third quarter 2017 and net gains of $7 million for the third quarter 2016. Revenues for the third quarter of 2017 of $5.5 billion were higher than the $5.1 billion in the prior year.
Carnival Corporation & plc President and Chief Executive Officer Arnold Donald stated, “We delivered another consecutive quarter of strong operational improvement and another third quarter adjusted earnings record. Our ongoing efforts to create demand well in excess of measured supply growth helped to drive five percent higher cruise ticket pricing. We have many innovative efforts to accelerate demand in 2018 and beyond including our recently announced digital streaming channel, OceanView, and our mobile gaming portfolio, PlayOcean, both launching this week.” The company will launch OceanView and PlayOcean at a public relations event in New York City's Time Square on September 28th between 11 a.m. and 1 p.m.
Key information for the third quarter 2017 compared to the prior year:
Gross revenue yields (revenue per available lower berth day or “ALBD”) increased 5.5 percent. In constant currency, net revenue yields increased 5.1 percent for 3Q 2017, better than June guidance of up approximately 4.0 percent.
Gross cruise costs including fuel per ALBD increased 12.4 percent (including ship impairment charges). In constant currency, net cruise costs excluding fuel per ALBD increased 0.2 percent, in line with June guidance of approximately flat.
Changes in fuel prices (including realized fuel derivatives) and currency exchange rates decreased earnings by $0.03 per share.
Noncash impairment charges for ships, trademark and goodwill of $392 million driven by the company's decision to strategically realign its business in Australia.
Highlights from the third quarter include the official naming ceremonies for AIDA Cruises’ AIDAperla, which was christened in Palma de Mallorca with German model and presenter Lena Gercke serving as godmother, and Princess Cruises’ Majestic Princess, which debuted in China with renowned basketball legend Yao Ming and his wife Ye Li presiding over the ceremony. We announced three additional Princess Cruises ships, Golden Princess, Crown Princess and Ruby Princess, will be outfitted with the technical requirements to transition them to the Ocean Platform featuring Ocean MedallionTM. This cutting edge interactive guest experience will be piloted later this year on Regal Princess. Also during the quarter, Holland America Line along with O, The Oprah Magazine, had its inaugural Share the Adventure cruise sailing from Seattle to Alaska with a number of distinguished guests on board including Oprah Winfrey. Additionally, Holland America Line received approval to operate a series of cruises to Cuba beginning in December 2017 and Carnival Cruise Line received approval for five additional Cuba cruises in 2018, following the debut of its program in June of this year.
Outlook
Donald commented, “After the earthquakes in Mexico and a very challenging series of hurricanes, our thoughts are with all of those impacted and we are actively contributing to the relief and rebuilding efforts in the Caribbean and the southern U.S. through monetary and other support. Many people throughout these areas have been impacted and several ports are temporarily unavailable. Fortunately, our owned destinations including Amber Cove, Dominican Republic; Cozumel, Mexico; Mahogany Bay, Honduras; Half Moon Cay and Princess Cays, Bahamas, as well as more than 40 other ports, plus all those in Mexico, are fully operational and welcoming guests.” Donald added that several temporary port closures associated with the storms led to voyage disruptions which are expected to result in an estimated $0.10 to $0.12 per share reduction in earnings in the fourth quarter. The company has resumed normal operations, with some itinerary modifications and is continuing to deliver exceptional Caribbean cruise vacations to its guests.



The following information was filed by Carnival Plc (CUK) on Tuesday, September 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Carnival Plc's 10-Q Quarterly Report:

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Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (parenthetical)
Consolidated Balance Sheets (unaudited)
Consolidated Statements Of Cash Flows (unaudited)
Consolidated Statements Of Comprehensive Income (unaudited)
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Fair Value Measurements, Derivative Instruments And Hedging Activities
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Fair Value Measurements, Derivative Instruments And Hedging Activities - Derivatives Qualifying And Designated As Hedging Instruments Recognized In Other Comprehensive Income (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Estimated Carrying And Fair Values Of Financial Instrument Assets And Liabilities Not Measured At Fair Value On Recurring Basis (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Estimated Fair Value And Basis Of Valuation Of Financial Instrument Assets And Liabilities Measured At Fair Value On Recurring Basis (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Estimated Fair Values Of Derivative Financial Instruments And Location On Consolidated Balance Sheets (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Foreign Currency Exchange Rate Risks (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Fuel Derivatives Outstanding (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Nonfinancial Instruments That Are Measured At Fair Value On A Nonrecurring Basis (narrative) (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Offsetting Derivative Instruments (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Reconciliation Of Changes In Carrying Amounts Of Goodwill (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Reconciliation Of Changes In Carrying Amounts Of Intangible Assets Not Subject To Amortization (details)
Fair Value Measurements, Derivative Instruments And Hedging Activities - Reconciliation Of Changes In Carrying Amounts Of Intangible Assets Subject To Amortization (details)
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Ticker: CUK
CIK: 1125259
Form Type: 10-Q Quarterly Report
Accession Number: 0000815097-17-000023
Submitted to the SEC: Fri Sep 29 2017 12:33:13 PM EST
Accepted by the SEC: Fri Sep 29 2017
Period: Thursday, August 31, 2017
Industry: Water Transportation

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