Carnival Corporation (CCL) reported a second-quarter net profit of $92 million, surpassing analysts’ predictions. This represents an increase of nearly $500 million compared to the second quarter of 2023.
Analysts had anticipated another quarterly loss, making this a significant rebound from the Q2 2024 loss of $214 million.Carnival outperformed expectations across all metrics, driven by higher average cruise fares and increased onboard spending. Total Q2 revenue climbed to $5.78 billion.
With demand remaining robust, Carnival has raised its full-year 2024 net yield guidance to approximately 10.25% and adjusted net income to $1.5 billion, an increase of $275 million from earlier projections.
Customer deposits have reached a record high of $8.3 billion, exceeding the previous peak by over $1 billion. The company’s booking position for the rest of the year and for the full year 2025 is the best it has ever been. “While it’s still early, the cumulative advance booking for 2025 is even higher than for 2024 in both price and occupancy,” said Carnival.
In the past 15 months, Carnival has paid off $6.6 billion in debt.
The company concluded the quarter with $4.6 billion in liquidity.
