On June 25, 2024, Carnival Corporation & plc, a dual-listed company under Carnival Corporation in Panama and Carnival plc in England and Wales, reported a record-breaking second quarter with significant improvements in revenues, operating income, and booking levels. The company, which trades under the symbols CCL and CUK on the New York Stock Exchange, announced net income of $92 million, a substantial increase from the previous year, and an adjusted net income that exceeded March guidance by nearly $170 million. The second quarter operating income reached $560 million, nearly five times the level of 2023, on revenues of $5.8 billion. Carnival also raised its full-year 2024 net yield guidance to approximately 10.25 percent due to strong demand, and increased its full-year adjusted net income guidance by...Show More

On June 25, 2024, Carnival Corporation & plc, a dual-listed company under Carnival Corporation in Panama and Carnival plc in England and Wales, reported a record-breaking second quarter with significant improvements in revenues, operating income, and booking levels. The company, which trades under the symbols CCL and CUK on the New York Stock Exchange, announced net income of $92 million, a substantial increase from the previous year, and an adjusted net income that exceeded March guidance by nearly $170 million. The second quarter operating income reached $560 million, nearly five times the level of 2023, on revenues of $5.8 billion. Carnival also raised its full-year 2024 net yield guidance to approximately 10.25 percent due to strong demand, and increased its full-year adjusted net income guidance by about $275 million. The cumulative booked position for the remainder of 2024 and for the full year 2025 is the highest on record in terms of price and occupancy. Customer deposits hit a record $8.3 billion, surpassing the previous record by $1.1 billion. CEO Josh Weinstein attributed the success to improvements in commercial operations, strategic portfolio reallocation, and growth plans. The company also announced strategic portfolio optimization, including the sunset of the P&O Cruises (Australia) brand in March 2025, which will be integrated into Carnival Cruise Line. Financing activities in the second quarter included prepayments of debt and refinancing efforts aimed at reducing interest expenses and simplifying the capital structure. The company ended the quarter with $4.6 billion in liquidity and expects substantial free cash flow going forward. Other highlights include the installation of SpaceX's Starlink across the fleet, the release of the 14th annual sustainability report, and recognition by Forbes as one of America's Best Employers for Diversity for 2024.