10-K/APeriod: FY2019

CARNIVAL CORP Annual Report (Amendment), Year Ended Nov 30, 2019

Filed March 31, 2020For Securities:CCL

Summary

Carnival Corporation's (CCL) 2020 10-K filing, specifically Item 5 focusing on Market Information, reveals key details for investors regarding its stock performance, dividend policy, and share repurchase programs. The company's common stock trades on the NYSE under "CCL", with Carnival plc ADSs also trading under "CUK". While dividend payments are at the Board's discretion and depend on various financial factors, the company has a history of repurchasing shares. Performance graphs for both Carnival Corporation common stock and Carnival plc ADSs show a period of growth from late 2014 through 2017, followed by a decline in 2018 and a partial recovery in 2019. Investors should note that past performance is not indicative of future results. The company also highlights its ongoing share repurchase program, authorized in 2004 and modified in 2018, with a remaining authorization of $1.0 billion as of the filing date. During the three months ended November 30, 2019, Carnival plc repurchased approximately 3.2 million ordinary shares.

Financial Highlights

52 data points
Beta

Revenue

$20.82B

38.0% Gross Margin

Net Income

$2.99B

14.4% Net Margin

EPS (Diluted)

$4.32

Total Assets

$45.06B

Cash & Equivalents

$518.00M

Free Cash Flow

$46.00M

Financial Statements
Beta
Revenue$20.82B
Cost of Revenue$12.91B
Gross Profit$7.92B
SG&A Expenses$2.48B
Operating Expenses$17.55B
Operating Income$3.28B
Interest Expense$206.00M
Net Income$2.99B
EPS (Basic)$4.34
EPS (Diluted)$4.32
Shares Outstanding (Basic)690.00M
Shares Outstanding (Diluted)692.00M

Key Highlights

  • 1Carnival Corporation (CCL) and Carnival plc (CUK) common stock/ADSs are traded on the NYSE.
  • 2Dividend payments are discretionary and depend on earnings, liquidity, and market conditions.
  • 3Past stock performance shows growth from 2014-2017, with fluctuations thereafter.
  • 4A share repurchase program, authorized at $1.0 billion, remains active without an expiration date.
  • 5Carnival plc repurchased 3.2 million ordinary shares in the three months ending November 30, 2019.
  • 6No shares of Carnival Corporation common stock were repurchased during the same period.
  • 7Carnival plc share repurchases require annual shareholder approval, with the current approval valid until July 15, 2020, or the 2020 AGM.

Frequently Asked Questions

Carnival Corporation's common stock, along with paired trust shares, is traded on the New York Stock Exchange (NYSE) under the ticker symbol "CCL". Carnival plc's American Depositary Shares (ADSs) also trade on the NYSE under the ticker symbol "CUK".

The payment and amount of any future dividends are at the discretion of the Boards of Directors. Dividends are based on factors including earnings, liquidity, financial condition, booking trends, capital requirements, and credit ratings. The company cannot guarantee future dividend payments or their amounts and timing.

Yes, Carnival has an ongoing share repurchase program. During the three months ended November 30, 2019, Carnival plc repurchased approximately 3.2 million ordinary shares. No Carnival Corporation common stock was repurchased during that specific three-month period.

According to the performance graphs provided, an investment of $100 in Carnival Corporation common stock at the end of November 2014 grew to $117 by the end of November 2019, after reinvesting dividends. Similarly, $100 invested in Carnival plc ADSs grew to $112 over the same period. This shows a general upward trend from 2014 to 2017, followed by some decline and partial recovery in the subsequent years, though it underperformed the S&P 500 index over the entire period.