Carnival raises full-year profit forecast on Q2 results

Wednesday, 26 Jun, 2024 0

Carnival Corp reported a net profit of $92 million for the second quarter, beating analysts’ targets.

It represents a $500 million turnaround from last year.

It is a significant recovery from the $214 million loss in Q2 2024.

“We achieved record revenues, operating income, customer deposits, and booking levels,” said Carnival CEO Josh Weinstein.

Weinstein said the company topped market expectations for average cruise fares and onboard spending.

Overall Q2 revenue was up to $5.78 billion.

With high customer demand not slowing, Carnival upped its full-year 2024 net yield guidance to over 10. % with adjusted net income expectations to $1.5 billion.

CFO David Bernstein said: “We continue to reduce debt and interest expenses, while also simplifying our capital structure.”

Carnival says it currently has $4.6 billion in liquidity.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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