Core Viewpoint - Carnival Corporation & plc, the world's largest cruise company, is committed to reducing food waste as part of its sustainability efforts, achieving significant progress ahead of the International Day of Awareness of Food Loss and Waste [1][2]. Group 1: Food Waste Reduction Achievements - Carnival Corporation has surpassed its 2025 food waste reduction goal, achieving a 42% reduction in food loss and waste compared to 2019, and is on track to meet a 50% reduction target by 2030 [2]. - The company has implemented various strategies, including revising over 500 recipes for efficiency, utilizing Winnow kitchen scales to analyze waste, and engaging staff in training programs [8]. Group 2: Community Engagement and Initiatives - Costa Cruises has expanded its "4GOODFOOD" program to donate unserved food to local food banks, with over 300,000 portions donated since its inception in 2017 [5][7]. - The program has recently included agreements with Palma de Mallorca and Valencia, marking the 15th and 16th ports to benefit from this initiative [7]. Group 3: Leadership and Collaboration - Jan Swartz, executive vice president of strategic operations for Carnival Corporation, is the first Champion from the cruise industry in the international coalition focused on achieving Target 12.3 of the UN's Sustainable Development Goals [4]. - The Champions 12.3 event highlighted the urgency of addressing food loss and waste, bringing together leaders to share insights and solutions [3].

Diamond Princess to Sail on Over 50 Departures Showcasing the Land of the Rising Sun - January through November 2026 FT. LAUDERDALE, Fla., Sept. 19, 2024 /PRNewswire/ -- The scenic island nation of Japan continues to be a hot destination for tourists who are inspired by architecture, local cuisine and natural landscapes, and this trend is expected to extend into 2026. Today, Princess Cruises – recognized as the leading North American cruise line in Japan – released its 2026 Japan cruise season, offering the ...

Now Through Dec. 15, "Better than Best Price Guarantee" Lets Smart Shoppers Book Early with Absolute Confidence FT. LAUDERDALE, Fla., Sept. 13, 2024 /PRNewswire/ -- After a successful launch earlier this summer, Princess Cruises is extending its "Better than Best Price Guarantee" offer through December 15, 2024, so guests can continue to book their ultimate 2025 or 2026 cruise vacation with the added confidence they are securing the absolute best cruise fare available. Princess Cruises Extends Cruise Indust ...

New Specially Crafted Cocktails Available Across the Princess Fleet including at O'Malley's Irish Pub FT. LAUDERDALE, Fla., Aug. 29, 2024 /PRNewswire/ -- Acclaimed actor and director Liev Schreiber is bringing his award-winning Sláinte Irish Whiskey to Princess Cruises, adding to the cruise line's prestigious "Love Line Premium Liquors" collection. Guests can now enjoy this celebrated whiskey in a series of exclusive cocktails crafted specifically for Princess Cruises. Liev Schreiber's Sláinte Irish Whiskey ...

Powered by Starlink, the New Wi-Fi Tier Ensures Seamless Connectivity Across All Journeys FT. LAUDERDALE, Fla., Aug. 26, 2024 /PRNewswire/ -- Travelers around the world are taking advantage of flexible work arrangements and making the most of their time by combining vacation and work—in fact, 74% of Americans who work from home said they would consider taking a "workcation," according to a recent Harris Poll data. With the recently announced MedallionNet Max, now is the time to book a longer voyage with Pri ...

More Than 90 Voyages Conveniently Embark from Ft. Lauderdale and Port Canaveral Aboard Regal Princess and Caribbean Princess FT. LAUDERDALE, Fla., Aug. 23, 2024 /PRNewswire/ -- Princess Cruises today announced its biggest summer Caribbean cruise season ever for 2026, with two ships—Regal Princess and Caribbean Princess— departing from Ft. Lauderdale/Port Everglades and Port Canaveral respectively. Now available for booking, guests seeking the ultimate summer getaway can choose from over 90 voyages sailing t ...

Chef Gemignani has created two pizzas exclusively for Princess, each with an exciting blend of savory flavors and premium ingredients from Soppressata sausage and hot honey to agave pesto and fresh goat cheese. He also provided recipes for three of his signature, award-winning pizzas, further enhancing the line's position as offering the Best Pizza at Sea. "There was great excitement on board as Princess Cruises set a GUINNESS WORLD RECORDS title for the World's Largest Pizza Party at multiple venues," said ...

Creative Fusion from Art Icon Romero Britto and Culinary Master Rudi Sodamin Blends Exquisitely for Sensational Dining Experience FT. LAUDERDALE, Fla., June 28, 2024 /PRNewswire/ -- Princess Cruises' newest culinary gem – Love by Britto - has officially opened aboard Sun Princess, and guests are savoring every moment of the creative fusion in this first-of-its-kind collaboration between art icon Romero Britto and culinary master Rudi Sodamin. Love by Britto presents a sensational dining experience where the ...

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Carnival Corporation & plc's unaudited consolidated financial statements, including income, balance sheets, cash flows, and detailed notes [Consolidated Statements of Income (Loss)](index=4&type=section&id=Consolidated%20Statements%20of%20Income%20%28Loss%29) The company reported a net income of $92 million for Q2 2024, significantly improving from a prior year loss due to revenue growth Consolidated Income Statement Highlights (in millions, except EPS) | Metric | Three Months Ended May 31, 2024 | Three Months Ended May 31, 2023 | Six Months Ended May 31, 2024 | Six Months Ended May 31, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $5,781 | $4,911 | $11,187 | $9,343 | | **Operating Income (Loss)** | $560 | $120 | $836 | $(52) | | **Net Income (Loss)** | $92 | $(407) | $(123) | $(1,100) | | **Diluted EPS** | $0.07 | $(0.32) | $(0.10) | $(0.87) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of May 31, 2024, total assets were $49.6 billion, with increased customer deposits and reduced long-term debt Key Balance Sheet Items (in millions) | Account | May 31, 2024 | November 30, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $1,646 | $2,415 | | Total assets | $49,603 | $49,120 | | Customer deposits | $7,883 | $6,072 | | Long-Term Debt | $27,154 | $28,483 | | Total shareholders' equity | $6,814 | $6,882 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to $3.8 billion for the six months ended May 31, 2024 Cash Flow Summary (in millions) | Activity | Six Months Ended May 31, 2024 | Six Months Ended May 31, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $3,807 | $1,525 | | Net cash used in investing activities | $(3,384) | $(1,509) | | Net cash used in financing activities | $(1,183) | $(1,552) | | **Net (decrease) in cash** | **$(767)** | **$(1,530)** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies, customer deposits, debt, prepayments, litigation, and segment performance - Total customer deposits reached **$8.3 billion** as of May 31, 2024, up from **$6.4 billion** at November 30, 2023, reflecting strong future bookings[38](index=38&type=chunk) - The company became subject to the EU Emissions Trading Scheme (ETS) on January 1, 2024, with the cost of allowances purchased totaling **$49 million** as of May 31, 2024[33](index=33&type=chunk) - During the first six months of 2024, the company made debt prepayments totaling **$3.2 billion** across several debt instruments to reduce interest expense[50](index=50&type=chunk) - In June 2024, the company announced the integration of P&O Cruises Australia into Carnival Cruise Line, effective March 2025, which is not expected to have a material financial impact[95](index=95&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 and H1 2024 financial results, highlighting improved profitability driven by strong demand and revenue growth [Statistical Information](index=25&type=section&id=Statistical%20Information) Key operating metrics for Q2 2024 showed strong growth, with Passenger Cruise Days increasing and occupancy rising to **104%** Key Operating Statistics | Metric | Three Months Ended May 31, 2024 | Three Months Ended May 31, 2023 | | :--- | :--- | :--- | | Passenger Cruise Days (millions) | 24.3 | 21.8 | | Available Lower Berth Days (millions) | 23.5 | 22.3 | | Occupancy percentage | 104% | 98% | [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Consolidated revenues increased by **20%** to **$3.8 billion** for Q2 2024, significantly boosting operating income to **$560 million** - For Q2 2024 vs Q2 2023, passenger ticket revenue increased by **$613 million** (**20%**), driven by a **$253 million** increase from higher ticket prices, a **$185 million** increase from a **5.4%** capacity growth, and a **$176 million** increase from a **5.6 percentage point** rise in occupancy[111](index=111&type=chunk)[115](index=115&type=chunk) - The NAA segment's Q2 operating income increased by **$260 million** to **$525 million**, while the Europe segment's operating income improved by **$195 million**, swinging from a **$27 million loss** to a **$168 million profit**[124](index=124&type=chunk) - Interest expense for Q2 2024 decreased by **$93 million** (**17%**) year-over-year due to a reduction in total debt and lower interest rates[125](index=125&type=chunk) [Liquidity, Financial Condition and Capital Resources](index=30&type=section&id=Liquidity%2C%20Financial%20Condition%20and%20Capital%20Resources) As of May 31, 2024, the company maintained strong liquidity of **$4.6 billion**, with robust cash flow from operations - Total liquidity as of May 31, 2024, was **$4.6 billion**, including **$1.6 billion** in cash and **$3.0 billion** in available borrowings under the Revolving Facility[142](index=142&type=chunk) - Net cash from operating activities for the first six months of 2024 was **$3.8 billion**, a **$2.3 billion** increase from the same period in 2023, driven by improved earnings and a substantial release of credit card reserves[145](index=145&type=chunk) - The working capital deficit increased to **$9.6 billion** from **$6.2 billion**, largely due to a significant increase in customer deposits to **$7.9 billion**, reflecting strong future bookings[144](index=144&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk exposure, with primary risks including interest rates, foreign currency, and fuel prices Debt Composition by Interest Rate Type (May 31, 2024) | Debt Type | Percentage | | :--- | :--- | | Fixed rate | 61% | | EUR fixed rate | 23% | | Floating rate | 4% | | EUR floating rate | 11% | [Item 4. Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of May 31, 2024, with no material changes - The President, CEO, and CFO have concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period, May 31, 2024[154](index=154&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[155](index=155&type=chunk) [PART II - OTHER INFORMATION](index=33&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) This section details legal proceedings, including the Helms-Burton Act lawsuit and environmental matters, with no material financial impact - The company is appealing a **$110 million** judgment against it in a lawsuit filed by Havana Docks Corporation under the Helms-Burton Act, with oral arguments held on May 17, 2024[60](index=60&type=chunk) - Princess Cruises is facing formal charges in Australia regarding an inadvertent release of comminuted food waste by the Coral Princess inside the Great Barrier Reef Marine Park in June 2022[158](index=158&type=chunk) [Item 1A. Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to its risk factors, with key risks including geopolitical uncertainty, fuel prices, and interest rates - There has been no material change to the risk factors since the company's 2023 Form 10-K filing[160](index=160&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company discusses its Stock Swap Program, which had no sales or repurchases during the three months ended May 31, 2024 - No sales or repurchases were made under the Stock Swap Program during the three months ended May 31, 2024[163](index=163&type=chunk) [Item 5. Other Information](index=35&type=section&id=Item%205.%20Other%20Information) No director or Section 16 officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading plans during the quarter - No director or Section 16 officer adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading plans during the quarter[164](index=164&type=chunk) [Item 6. Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including loan agreements, notes, plans, and certifications

Core Points - Princess Cruises has introduced a "Better than Best Price Guarantee" for 2025 and 2026 cruises, allowing guests to secure the best price available from July 1 to September 2, 2024 [1][6] - If guests find a lower price for the same cruise before final payment, Princess will honor the lower rate and provide 120% of the difference as onboard credit [2][6] - The company emphasizes the importance of early booking, with 2025 voyage booking volume already nearly 30% higher than previous years at this point in the booking cycle [6] Company Overview - Princess Cruises is part of Carnival Corporation & plc and is known for delivering dream vacations to millions in sought-after destinations with elite service [5] - The cruise line offers a range of amenities including well-appointed staterooms, world-class dining, entertainment, and the exclusive Princess MedallionClass service [5][7] - Guests can also take advantage of inclusive packages like Princess Plus and Princess Premier, which provide significant savings on popular amenities [7]