Carnival hits revenue record after 'incredibly strong finish' to year
Published: 15:34 20 Dec 2024 GMT
Carnival PLC (LSE:CCL) chief executive Josh Weinstein said the cruise business had seen an 'incredibly strong finish to a record year' as revenues rose to a new high of US$25 billion.
Underlying profits were also a record at US$6.1 billion, or more than 40% higher than a year ago, while net income of US$1.9 billion beat guidance by US$130 million.
Fourth-quarter revenues were also a new high, said Weinstein, as are bookings for 2025 with profits per berth predicted to be the highest for two decades.
Weinstein added: "The progress was broad-based as we drove strong pricing in 2024 as compared to 2023 across our major cruise lines and trades.
"We are delivering long-term value for our shareholders through improved operational execution across our brands, essentially on a same-ship basis.
"2025 is shaping up to be another banner year, with yield growth expected to far outpace historical growth rates and again exceed unit cost growth."
Fourth-quarter net income was US$303 million, or $0.23 diluted EPS, versus a net loss of $48 million in 2023 while revenues rose by 10% US$5.9 billion.
Debt at the year-end was US$27.5 billion.
For the current year, Carnival is forecasting net income of US$2.3 billion, up 20%, with a 4.2% rise in yields.
Shares rose 1.5% to 1,852p.
