Carnival Cruise Line is Now the Leading Cruise Operator in Australia as Global Fleet Grows to Record 29 ShipsSYDNEY, March 28, 2025 /PRNewswire/ -- Marking an exciting new chapter for Carnival Cruise Line as Australia's leading cruise operator, Carnival Adventure and Carnival Encounter are preparing to embark on their maiden voyages, delivering more signature Carnival fun to guests departing from Sydney and Brisbane. With the addition of these two ships, Carnival Cruise Line now has the largest fleet of shi ...

Revenue Growth - Passenger ticket revenues increased by $216 million, or 6.0%, to $3.8 billion in 2025 from $3.6 billion in 2024[99] - Onboard and other revenues increased by $189 million, or 11%, to $2.0 billion in 2025 from $1.8 billion in 2024[100] - The North America segment's passenger ticket revenues increased by $159 million, or 7.0%, to $2.4 billion in 2025 from $2.3 billion in 2024[101] - The Europe segment's passenger ticket revenues increased by $52 million, or 3.8%, to $1.4 billion in 2025[103] Operating Performance - Consolidated operating income increased by $267 million to $543 million in 2025 from $276 million in 2024[116] - Occupancy percentage increased to 103% in 2025 from 102% in 2024[95] - The company experienced a 2.5% capacity increase in Available Lower Berth Days (ALBDs) from 23.0 million in 2024 to 23.6 million in 2025[95] Financial Expenses - Interest expense decreased by $94 million, or 20%, to $377 million in 2025 from $471 million in 2024, primarily due to a decrease in total debt and lower average interest rates[117] - Debt extinguishment and modification costs increased by $218 million to $252 million in 2025 from $33 million in 2024[120] Cash Flow and Liquidity - As of February 28, 2025, the company had $3.8 billion of liquidity, including $0.8 billion in cash and cash equivalents and $2.9 billion in borrowings available under its multi-currency revolving credit facility[121] - The working capital deficit increased to $8.6 billion as of February 28, 2025, compared to $8.2 billion as of November 30, 2024, primarily due to an increase in customer deposits[122] - Net cash flows from operating activities decreased to $0.9 billion during the three months ended February 28, 2025, down from $1.8 billion for the same period in 2024[124] - Net cash used in investing activities was $605 million during the three months ended February 28, 2025, primarily due to capital expenditures of $607 million for ship improvements and port developments[125] - During the three months ended February 28, 2025, net cash used in financing activities was $690 million, compared to a net cash provided of $0.2 billion for the same period in 2024[127] Future Projections - The company anticipates a $46 million impact in 2024 due to the EU Emissions Trading System, affecting 40% of emissions under the operational scope[94] - Future export credit facilities at February 28, 2025, are projected to be $0.7 billion in 2025, increasing to $3.1 billion thereafter[129] Debt Composition - As of February 28, 2025, the company maintained a fixed rate debt composition of 61%, with 23% in EUR fixed rate and 7% in floating rate[131] - The company plans to use existing liquidity and future cash flows from operations to fund cash requirements, including capital expenditures not covered by export credit facilities[128] - The company is not a party to any off-balance sheet arrangements that could materially affect its consolidated financial statements[123]

VALENCIA, Calif., March 25, 2025 /PRNewswire/ -- Cunard today announced an exciting partnership with Sail4th 250, the non-profit organization overseeing celebrations in the Port of New York and New Jersey for America's 250th anniversary next year.The collaboration will see the luxury cruise line's flagship Queen Mary 2 – the world's only ocean liner – take pride of place at the heart of the landmark event, offering guests a once-in-a-lifetime vantage point in what promises to be an unforgettable moment in h ...

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] - Adjusted net income guidance for 2025 expected to be up over 30 percent compared to 2024, better than December guidance by $185 million[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 a 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 EBITDA of approximately $6.7 billion expected for full year 2025, up nearly 10 percent compared to 2024[14] - Adjusted gross margin for the same period was $4,359 million, compared to $4,033 million in 2024, indicating a year-over-year increase of 8.1%[43] Customer Activity - Total customer deposits reached a first quarter record of $7.3 billion, reflecting continued growth in ticket prices and pre-cruise onboard sales[7] - Cumulative advanced booked position for the remainder of the year remains strong, with pricing at historical highs for each quarter[10] - Booking volumes for 2026 sailings and beyond reached an all-time high at higher prices in constant currency[9] - Passenger cruise days (PCDs) increased to 24.3 million in the three months ended February 28, 2025, compared to 23.5 million in the same period of 2024, reflecting a rise in passenger activity[37] - The occupancy percentage for the three months ended February 28, 2025, was 103%, slightly up from 102% in the same period of 2024, indicating strong demand for cruise services[37] - Customer deposits increased to $6,853 million as of February 28, 2025, up from $6,425 million as of November 30, 2024, suggesting growing consumer interest and bookings[34] Cost and Margin Analysis - Gross margin yields per ALBD increased by 25% to $58.99 from $47.34 in the previous year[43] - Net yields per ALBD rose by 5.5% to $184.95, up from $175.36 in 2024[43] - Cruise costs per ALBD decreased slightly by 0.3% to $194.99 from $195.60 in 2024[45] - Adjusted cruise costs per ALBD were $133.50, down 1.9% from $136.03 in the previous year[45] - Adjusted cruise costs excluding fuel per ALBD were $113.76, a decrease of 0.3% compared to $114.09 in 2024[45] Debt and Financial Position - The company successfully refinanced $5.5 billion of debt, delivering $145 million in annualized interest savings[12] - Total current liabilities as of February 28, 2025, were $11,578 million, a slight decrease from $11,617 million as of November 30, 2024[34] - The company reported a net loss of $78 million for the three months ended February 28, 2025, an improvement from a net loss of $214 million in the same period of 2024[32] - The current portion of long-term debt as of February 28, 2025, was $1,531 million, compared to $1,538 million as of November 30, 2024, indicating a stable debt position[34] Future Projections - Adjusted return on invested capital (ROIC) expected to reach approximately 12 percent, achieving 2026 SEA Change targets one year in advance[14] - Newbuild capital expenditures for the remainder of 2025 are projected at $1.0 billion[20] - Future forecasts for non-GAAP measures are not provided due to the unpredictability of foreign exchange rates and fuel prices[54] - The company utilizes non-GAAP financial measures to provide insights into performance, including adjusted EBITDA and adjusted earnings per share[46]

"Sail and Save" Runs through April 1 Offering Savings of up to 50%, Third and Fourth Guests Sail Free, and up to $500 Onboard CreditFT. LAUDERDALE, Fla., March 5, 2025 /PRNewswire/ -- As travelers set sail for spring break getaways, those looking ahead to summer and fall 2025 can lock in major savings now – up to 50% off – with Princess Cruises' latest sale. From March 5 through April 1, guests can enjoy savings of up to 50% on cruises to Alaska, the Caribbean, Mediterranean, and Canada & New England, plus ...

Core Viewpoint - Carnival Corporation has successfully closed a private offering of $1.0 billion in senior unsecured notes at a 5.750% interest rate, which will be used to redeem existing higher-interest notes, thereby reducing overall interest expenses significantly [1][2]. Group 1: Financial Impact - The transaction is expected to reduce net annual interest expense by approximately $45 million, reflecting a strategic move to lower interest costs [2]. - The redemption of the $1.0 billion 10.500% senior unsecured notes will result in a reduction of interest expense by over 4.5% [1]. Group 2: Notes Offering Details - The new notes will pay interest semi-annually at a rate of 5.750% per year, starting from September 15, 2025, and will mature on March 15, 2030 [3]. - The notes are unsecured and will be guaranteed on a senior unsecured basis by Carnival plc and certain subsidiaries [3]. Group 3: Regulatory and Offering Information - The notes were offered only to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S [4]. - The notes will not be registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption [5].

Core Viewpoint - Carnival Corporation & plc is enhancing fuel efficiency and reducing greenhouse gas emissions through innovative hull designs, advanced propulsion technology, and underwater inspection and cleaning drones [1][2][4]. Group 1: Fuel Efficiency Strategies - The company is implementing complementary strategies to maximize hydrodynamic performance and enhance hull maintenance, which collectively reduce underwater drag and fuel consumption across its fleet [2][4]. - The aspiration is to achieve net zero greenhouse gas emissions by 2050, with ongoing efforts focused on fuel savings and decarbonization [4]. Group 2: Technological Innovations - Advanced hull designs are selected using computer-assisted analysis, allowing for extensive simulations to identify optimal designs for various sailing conditions [5]. - Trim optimization software is utilized onboard to ensure vessels operate in the most efficient configuration [5]. - Over 40 ships are equipped with high-efficiency, steerable podded propulsion units, which are approximately 7% more efficient than traditional propellers [5]. - Air Lubrication Systems (ALS) are installed on over 10% of the fleet, reducing fuel consumption by 5% or more, with plans for 10 additional ships to be converted in the next three years [5]. - Drones are being trialed for hull inspections to optimize cleaning schedules and manage marine growth, enhancing hydrodynamic efficiency [5]. - Trials with remotely operated vehicle (ROV) hull cleaners aim to improve cleaning speed and efficiency, targeting full hull cleaning during a single port visit [5]. - Innovative hull coatings with advanced biofouling prevention are being tested, with about 15% of the fleet currently trialing new coatings [5]. Group 3: Environmental Impact - The initiatives undertaken by the company have led to significant improvements in fuel and energy efficiency, contributing to a reduced environmental footprint while enhancing guest experiences [6].

Core Viewpoint - Carnival Corporation & plc is executing a private offering of $1.0 billion in 5.750% senior unsecured notes due 2030 to redeem its existing $1.0 billion 10.500% senior unsecured notes due 2030, aiming to reduce interest expenses by approximately $45 million annually [1][2]. Group 1: Notes Offering Details - The Notes Offering is priced at $1.0 billion with a maturity date of March 15, 2030, and will pay interest semi-annually starting September 15, 2025 [1][4]. - The transaction is expected to close on February 28, 2025, and the redemption of the existing notes is contingent upon the closing of the Notes Offering [3]. Group 2: Financial Strategy - The company aims to lower its net annual interest expense by approximately $45 million through this transaction, which is part of a broader strategy to manage and reduce interest costs [2]. - The indenture governing the new notes will include investment grade-style covenants, indicating a focus on maintaining financial stability [2]. Group 3: Company Overview - Carnival Corporation & plc is recognized as the largest global cruise company and one of the largest leisure travel companies, operating a diverse portfolio of cruise lines [8].

Core Viewpoint - Carnival Corporation & plc has initiated a private offering of new senior unsecured notes totaling $1.0 billion, aimed at refinancing existing debt and reducing interest expenses [1][2]. Group 1: Notes Offering - The new senior unsecured notes are expected to mature in 2030 and will replace the existing $1.0 billion 10.500% senior unsecured notes due 2030 [1]. - The offering is anticipated to include investment grade-style covenants in the governing indenture [1]. Group 2: Redemption of Existing Notes - A conditional notice of redemption has been issued for the entire outstanding principal amount of the 2030 Unsecured Notes, with a redemption date around February 28, 2025 [2]. - The redemption price will be 100% of the principal amount plus applicable premiums and accrued interest, funded by the net proceeds from the new notes offering and cash on hand [2]. Group 3: Company Overview - Carnival Corporation & plc is recognized as the largest global cruise company and one of the largest leisure travel companies, operating a portfolio of well-known cruise lines [6].

Core Insights - Princess Cruises is expanding its Alaska National Parks cruisetours for 2025 and 2026, offering new itineraries that allow guests to explore multiple national parks [2][3] - The new cruisetours combine a seven-day "Voyage of the Glaciers" cruise with scenic rail travel and extended land stays at Princess-owned wilderness lodges [2][3] Itinerary Details - The 2025 National Parks Cruisetours include options such as the "National Parks Expedition" visiting five parks in 15 days, and the "National Parks Explorer" visiting four parks in 14 days [4][5][8] - The 2026 offerings mirror the 2025 itineraries, maintaining the same structure and park visits [6] Unique Features - The cruisetours provide immersive experiences, allowing guests to engage with Alaska's natural beauty, including towering glaciers and abundant wildlife [3] - Princess Cruises emphasizes its unique position in visiting Glacier Bay, with 88 visits planned, making it the cruise line with the most frequent access to this national park [11] Onboard Experience - The "North to Alaska" program enhances the onboard experience with local cultural elements, including performances by lumberjacks and Iditarod champions, as well as fresh Alaskan seafood [12]