Financial Data and Key Metrics Changes - The company reported a net income exceeding guidance by more than $170 million, driven by strong demand and a 7.3% yield increase, surpassing last year's 17% yield improvement [6][20] - EBITDA reached $1.2 billion, marking a nearly 40% year-over-year increase, with operating income nearly doubling [7][19] - Operating and EBITDA margins improved over 400 basis points year-over-year, now surpassing 2019 levels [7][9] Business Line Data and Key Metrics Changes - Both ticket and onboard spending outperformed expectations, indicating strong consumer demand [6][20] - Customer deposits increased by over $300 million compared to the prior year, reflecting improved ticket prices and pre-cruise onboard sales [22] Market Data and Key Metrics Changes - The company is experiencing historical high prices across all core programs for 2025, with booking volumes for 2026 sailings also reaching an all-time high [10] - European brands continue to outperform year-over-year on both price and occupancy [20] Company Strategy and Development Direction - The company is focused on enhancing its marketing campaigns to drive broader consideration for cruise travel and maintain momentum [10][12] - Strategic investments include the expansion and renovation of Denali Lodge and the Aida Evolution program, aimed at enhancing guest experiences and operational efficiency [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged heightened macroeconomic and geopolitical volatility but expressed confidence in achieving strong results due to robust demand and effective execution [9][15] - The company is well-positioned for future growth, with a focus on maintaining investment-grade leverage metrics and reducing debt [17][18] Other Important Information - The company has successfully refinanced $5.5 billion of debt, resulting in significant interest expense savings [25][26] - The sale of Seabourn Sojourn was executed in the best interest of shareholders, consolidating the fleet while maintaining a strong luxury offering [15][106] Q&A Session Summary Question: Can you provide more color on consumer demand trends since Q4? - Management noted that Wave season was a success, with record bookings and strong pricing, indicating robust consumer demand [30] Question: Is there potential upside to the yield guidance for the rest of the year? - Management confirmed that strong Q1 performance and ongoing onboard spending trends suggest potential for upside in yield guidance [42][44] Question: Are there any material differences in bookings for 2026 by brand? - Management indicated no significant concerns across brands, with a strong foundation for 2026 bookings [51] Question: What cost levers are available if demand weakens? - Management highlighted the absence of hedging on commodities as a natural hedge, allowing flexibility in cost management [87] Question: How is the company approaching capital allocation beyond debt paydown? - Management stated that immediate debt paydown is the priority, but future considerations will include investments in growth opportunities [117]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Carnival (CCL) Q1 2025 Earnings Call March 21, 2025 10:00 AM ET Company Participants Beth Roberts - Senior Vice President and Investor RelationsJosh Weinstein - President, CEO, Chief Climate Officer & DirectorDavid Bernstein - CFO & CAORobin Farley - Managing DirectorSteven Wieczynski - Managing DirectorPatrick Scholes - Managing Director - Lodging & Leisure Equity ResearchDavid Katz - Managing DirectorLizzie Dove - Vice President Equity Research Conference Call Participants Benjamin Chaiken - Equity Analys ...

Financial Performance - Record first quarter revenues of $5.8 billion, up over $400 million compared to the prior year[6] - Record first quarter operating income of $543 million, nearly double the prior year[6] - Revenues for the three months ended February 28, 2025, were $5,810 million, an increase from $5,406 million in the same period of 2024, representing a growth of 7.5%[32] - Adjusted net income for the three months ended February 28, 2025, was $174 million, compared to an adjusted net loss of $180 million in the same period of 2024[40] - Adjusted EBITDA for the three months ended February 28, 2025, was $1,205 million, up from $871 million in the same period of 2024, indicating a significant improvement in operational performance[40] - Adjusted gross margin for the same period was $4,359 million, compared to $4,033 million in 2024, reflecting an increase of 8.1%[43] - Total revenues for the three months ended February 28, 2025, were $5,810 million, an increase from $5,406 million in 2024, representing a growth of 7.5%[43] Customer Metrics - Total customer deposits reached a first quarter record of $7.3 billion, reflecting continued growth in ticket prices and pre-cruise onboard sales[7] - Customer deposits increased to $6,853 million as of February 28, 2025, compared to $6,425 million as of November 30, 2024, indicating growing customer interest[34] - The occupancy percentage for the three months ended February 28, 2025, was 103%, slightly higher than 102% in the same period of 2024, reflecting strong demand for cruise services[37] Future Guidance - Adjusted net income guidance for 2025 expected to be up over 30 percent compared to 2024, better than December guidance by $185 million[6] - Adjusted EBITDA of approximately $6.7 billion expected for full year 2025, up nearly 10 percent compared to 2024[14] - Booking volumes for 2026 sailings and beyond reached an all-time high at higher prices in constant currency[9] - Adjusted return on invested capital (ROIC) expected to reach approximately 12 percent, achieving 2026 SEA Change targets one year in advance[14] Debt and Capital Expenditures - The company successfully refinanced $5.5 billion of debt, delivering $145 million in annualized interest savings[12] - The company plans newbuild capital expenditures of $1.0 billion and non-newbuild capital expenditures of $1.9 billion for the remainder of 2025[20] - The company’s total debt (current and long-term) was $27,018 million as of February 28, 2025, down from $27,475 million as of November 30, 2024[36] Cost Metrics - The average fuel cost per metric ton consumed (excluding EUA) decreased to $643 in the three months ended February 28, 2025, from $686 in the same period of 2024[37] - Net yields per ALBD were $184.95, a 5.5% decrease from $188.20 in 2024[43] - Cruise costs per ALBD were $194.99, showing a slight decrease of 0.3% from $195.60 in 2024[45] - Adjusted cruise costs excluding fuel per ALBD were $113.76, a decrease of 0.3% compared to $115.24 in the previous year[45] Non-GAAP Measures - The company utilizes non-GAAP financial measures to assess performance, including adjusted net income and adjusted earnings per share, which exclude certain non-core expenses[46] - Future forecasts for non-GAAP financial measures are not reconciled to U.S. GAAP due to the unpredictability of certain variables like foreign exchange rates and fuel prices[54] - The company operates under constant currency reporting to mitigate the impact of foreign exchange fluctuations on financial results[56]

MIAMI, March 21, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the first quarter 2025 and provided an updated outlook for the full year and an outlook for the second quarter 2025. Record first quarter revenues of $5.8 billion, up over $400 million compared to the prior year. Record net yields1 significantly outperformed December guidance due to strong close in demand and continued strength in onboard revenue. Record first quarter operating income ...

Carnival Corporation CCL will release its first-quarter financial results, before the opening bell, on Friday, March 21.Analysts expect the Miami, Florida-based company to report quarterly earnings at 2 cents per share, versus a year-ago loss of 14 cents per share. Carnival projects quarterly revenue of $5.74 billion, compared to $5.41 billion a year earlier, according to data from Benzinga Pro.On Feb. 28, Carnival announced the closing of $1.0 billion 5.750% senior unsecured notes offering for refinancing ...

Group 1 - Carnival has a strong history of beating earnings estimates, with an average surprise of 41.77% over the last two quarters [2] - In the most recent quarter, Carnival reported earnings of $0.14 per share, exceeding the expected $0.08 per share by 75% [2] - The previous quarter also saw Carnival surpass estimates, reporting $1.27 per share against a consensus of $1.17 per share, resulting in an 8.55% surprise [2] Group 2 - There has been a favorable change in earnings estimates for Carnival, indicated by a positive Earnings ESP of +0.50% [3][6] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with nearly 70% of stocks in this category producing positive surprises [4][6] - Carnival's next earnings report is expected to be released on March 21, 2025 [6] Group 3 - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [5] - A negative Earnings ESP reduces predictive power but does not necessarily indicate an earnings miss [7] - It is crucial to check a company's Earnings ESP before quarterly releases to enhance the chances of successful investment decisions [8]

This time last year, I initiated my coverage on Carnival Corporation & plc (NYSE: CCL ) with a buy rating in light of the outstanding recovery of the cruise industry. The company has leveraged this industry recoveryAs a former managing editor at a financial media publication focused on mid and small caps, I am using my experience to present investment opportunities in undervalued companies. My experience, combined with my academic background in financial markets and institutions, allows me to bring thorough ...

嘉年华邮轮公司预计第一季度将扭亏为盈，展现邮轮行业韧性。公司将在周五开市前公布其第一季度财 报。 尽管达美航空等公司下调了业绩预期，显示消费者旅行支出趋于谨慎，但邮轮需求目前依然强劲。德意 志银行分析师认为，即使需求下降，也不太可能影响嘉年华第一季度的收益，因为旅客通常会提前9个 月预订邮轮。 尽管过去一个月嘉年华股价下跌了20%，反映出投资者对旅游行业的信心下降，但摩根大通分析师认 为，挪威邮轮和皇家加勒比等邮轮公司表示，由于高收入客户继续预订行程，目前尚未发现需求出现明 显变化。 校对：廖胜超 市场预期，公司营收预计达到57.5亿美元，高于上一季度的54.1亿美元。净利润预计每股收益为2美分， 扭转了去年同期每股亏损17美分的局面。调整后每股收益预计为2美分，高于去年同期的每股亏损14美 分。 ...

Carnival Corporation & plc (CCL) is scheduled to release first-quarter fiscal 2025 results on Friday. In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate by 75%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.CCL’s Q1 Estimate RevisionsThe Zacks Consensus Estimate for Carnival’s first-quarter fiscal 2025 earnings per share is pegged at 2 cents, suggesting 114.3% year-over-year growth. The consensus mark has been unchanged over the past 60 days ...