Carnival PLC

Latest Results (07.08.2024):

Net Income Improvement

Carnival PLC reported a significant improvement in net income for the second quarter of 2024, with a net income of $92 million, or $0.07 diluted EPS. This marks an increase of nearly $500 million compared to the same period in 2023. Adjusted net income was $134 million, or $0.11 adjusted EPS, outperforming March guidance by nearly $170 million.

Record Operating Income

The second quarter of 2024 saw Carnival PLC achieve a record operating income of $560 million, which is nearly five times the operating income recorded in the second quarter of 2023. This substantial increase was driven by record revenues and improved operational efficiencies.

Revenue and Yield Growth

Carnival PLC reported record second quarter revenues of $5.8 billion for 2024. The company also saw record net yields (in constant currency) and net per diems (in constant currency), both significantly exceeding 2023 levels. Gross margin yields increased by nearly 50 percent compared to the previous year.

Customer Deposits and Bookings

Total customer deposits for Carnival PLC reached an all-time high of $8.3 billion in the second quarter of 2024, surpassing the previous record by $1.1 billion. The company continues to experience strong bookings momentum, with the cumulative advanced booked position for full year 2025 being even higher than 2024 in both price (in constant currency) and occupancy.

2024 Financial Outlook

For the full year 2024, Carnival PLC has raised its net yield guidance (in constant currency) to approximately 10.25 percent, based on continued strong demand. The company also increased its full year adjusted net income guidance by approximately $275 million. Adjusted EBITDA is expected to be approximately $5.83 billion, up nearly 40 percent compared to 2023.