by Sarah Kuta
Last updated: 1:25 PM ET, Tue June 25, 2024
Amid strong demand for cruising, Carnival Corporation & plc has raised its annual profit forecast for the second time this year.
In an update to investors on Tuesday, the company said it now expects an adjusted profit per share for 2024 of around $1.18, up from its earlier forecast of 98 cents. Carnival Corp. also reported a second-quarter profit of 7 cents per share, which beat analysts’ expectations.
Bookings remain strong for the company, which has already set a new record for 2025 sailings.
"We are very pleased with the continued acceleration of demand for 2025 and beyond, which builds upon the fantastic achievements in 2024 thus far,” said Josh Weinstein, the company’s chief executive officer. “This positive trajectory is a testament to the successful execution of our demand generation efforts and the delivery of exceptional vacation experiences once onboard.”
The company also shared that:
- Total customer deposits reached an all-time high of $8.3 billion.
- Cruise costs per available lower berth day rose 4 percent year over year.
- Second quarter operating income reached a record $560 million
- Second quarter revenue reached a record $5.8 billion
Earlier this month, the company announced that it would be sunsetting its P&O Cruises Australia brand in March 2025. Executives said they made that decision in order to boost the capacity of Carnival Cruise Line, which returns the highest profits of the entire Carnival Corporation & plc portfolio.
Two P&O Cruises Australia ships—Pacific Encounter and Pacific Adventure—will begin sailing under the Carnival brand.
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