Anyone who doubted that cruising could rebound from the pandemic that shut down the industry for nearly two years should take a look at Carnival Corporation’s second quarter 2024 results.
Carnival posted record second quarter results and boosted full-year projections. (Photo Credit: Carnival Cruise Line)
Here are a few highlights:
· Second quarter net income improved by nearly US$500 million compared to 2023 and adjusted net income outperformed March guidance by nearly $170 million.
· Record second quarter operating income topped $560 million, nearly five times 2023 levels, on record second quarter revenues of $5.8 billion.
· Carnival has now raised full year 2024 net yield guidance to approximately 10.25% on continued strong demand and raised full year adjusted net income guidance by approximately $275 million.
· Cumulative booked position for the remainder of 2024 continues to be the best on record in both price and occupancy. While early, cumulative booked position for full year 2025 is even higher than 2024 in both price (in constant currency) and occupancy.
· Total customer deposits reached an all-time high of $8.3 billion, surpassing the previous record by $1.1 billion.
Carnival Corp. & plc COO Josh Weinstein will become president and CEO on Aug. 1, 2022. (Photo courtesy of Carnival Corp.) (Photo Credit: Carnival Corporation Media)
"We have made incredible strides in improving our commercial operations, strategically reallocating our portfolio composition and formulating growth plans, while strengthening even further our global team, the best in the business,” said Carnival Corporation & plc's CEO Josh Weinstein.
“Off the back of that effort, we closed yet another quarter delivering records, this time across revenues, operating income, customer deposits and booking levels, exceeding our guidance on every measure."
Weinstein concluded: "We are very pleased with the continued acceleration of demand for 2025 and beyond, which builds upon the fantastic achievements in 2024 thus far. This positive trajectory is a testament to the successful execution of our demand generation efforts and the delivery of exceptional vacation experiences once onboard.”
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