Carnival Corporation Reports Record Sales and Bookings in Q1 2024

Carnival Corporation, the world’s largest cruise company, reported record sales and bookings for the first quarter of 2024. Revenue reached $5.4 billion, a 26% increase from the same period in 2023, driven by record net income and per diem. The company also improved its bottom line, reducing its net loss to $214 million compared to $693 million in the previous year.

Booking volume and prices were at all-time highs in the first quarter, leading Carnival to raise its net income forecast for the year by 9.5%. Customer deposits also hit a record $7.0 billion. The company paid off its remaining debt and ordered newbuilds for delivery in 2027 and 2028, signaling confidence in future growth.

For the second quarter of 2024, Carnival expects a 10.5% increase in net revenues and a 50% increase in adjusted EBITDA. Looking ahead, the company anticipates a 9.5% growth in net revenues for the full year, with reduced cruise costs and increased EBITDA. Executives express confidence in continued performance and shareholder value growth through revenue growth and strategic debt management.

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