Carnival says Q3 cruise costs ex-fuel down 3% in constant dollar terms

The company said, "Net cruise costs per ALBD excluding fuel decreased 3% in constant dollars, better than June guidance of down 0.5-1.5%, partly due to the timing of certain expenses. Gross cruise costs per ALBD including fuel decreased 8.2% in current dollars driven by unfavorable currency exchange rates compared to the prior year. Fuel prices decreased almost 4% to $659 per metric ton for 3Q from $686 per metric ton in 3Q 2011. However, fuel prices were higher than June guidance costing an additional $18M, net of realized losses on fuel derivatives."

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