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Port Canaveral posts stronger start to fiscal 2025; operating income up year‑over‑year
Summary
CFO Jeff Beislein briefed commissioners on fiscal year 2025 results through January, reporting operating revenues of $70.3 million for the first four months and operating income of $27.3 million; commissioners approved the financial memos and related reports by voice vote.
Jeff Beislein, the port’s chief financial officer, reported the commission’s fiscal year 2025 financial results through January during the meeting.
Beislein told commissioners that operating revenue for the four months ending January was $70.3 million, about $713,000 (roughly 1%) favorable to budget, and that operating income for the four months was $27.3 million, about $3.9 million favorable to budget and 17% higher than the same period in fiscal year 2024. He said operating revenue for January alone was nearly $19 million, approximately $392,000 (about 2%) above budget. Beislein noted the port lost about $900,000 of revenue in October because of Hurricane Milton but remained ahead of both budget and last year’s pace.
On cruise and cargo statistics, Beislein reported 338 cruise calls and about 2.8 million passengers for the four months (a year‑over‑year increase) and 306 cargo calls with approximately 2.1 million tons of cargo over the same period. He said cargo tonnage was slightly down year‑over‑year, but cargo revenue for the period was comparable to last year at about $8 million.
A commissioner moved to accept the financial memo, statistical report, aging report and list of bills for January 2025 and to approve the list of disposals, legal bills and commissioner minor expenses for January 2025; the motion was seconded and approved by voice vote. After the presentation, several commissioners praised staff and leadership for the results.
Ending: Beislein said March is anticipated to be a strong month and commissioners had received the supporting detail in advance; staff will continue to monitor revenues and present updates at future meetings.
