Carnival Corporation has reported a significant increase in operating income for the third quarter of 2024, with consolidated operating income rising by $554 million to $2.2 billion from $1.6 billion in the previous year. The North American and Australian (NAA) segment saw an increase of $335 million to $1.4 billion, while the Europe segment's operating income grew by $201 million to $770 million. This growth is attributed to a 15% increase in passenger ticket revenues, which reached $5.2 billion, driven by strong demand and higher ticket prices. Onboard and other revenues also saw a 15% increase to $2.7 billion. Operating expenses rose by 9.8% to $4.3 billion, primarily due to a 6.2% capacity increase in Available Lower Berth Days (ALBDs) and higher commissions and transportation costs. Interest expenses decreased by 17% due to lower debt...Show More

Carnival Corporation has reported a significant increase in operating income for the third quarter of 2024, with consolidated operating income rising by $554 million to $2.2 billion from $1.6 billion in the previous year. The North American and Australian (NAA) segment saw an increase of $335 million to $1.4 billion, while the Europe segment's operating income grew by $201 million to $770 million. This growth is attributed to a 15% increase in passenger ticket revenues, which reached $5.2 billion, driven by strong demand and higher ticket prices. Onboard and other revenues also saw a 15% increase to $2.7 billion. Operating expenses rose by 9.8% to $4.3 billion, primarily due to a 6.2% capacity increase in Available Lower Berth Days (ALBDs) and higher commissions and transportation costs. Interest expenses decreased by 17% due to lower debt levels and average interest rates. Carnival's liquidity stood at $4.5 billion, including cash and available borrowings under their Revolving Facility. The company's financial condition has been impacted by global events such as geopolitical uncertainties, pandemics, and climate change, which may affect future results. Carnival's forward-looking statements indicate a focus on mitigating the impact of a global minimum tax and evolving regulatory requirements related to climate change.