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]

Core Insights - Cunard has unveiled a newly refurbished Queen Elizabeth, set to debut in Miami and Alaska, enhancing its luxury cruise offerings [1][7] - The ship's transformation includes revitalized signature spaces and outdoor decks, aimed at providing guests with better ocean views and relaxation areas [2][4] - The introduction of wellness-focused amenities, including The Pavilion Wellness Café and Harper's Bazaar Wellness at Sea program, reflects a growing trend towards health and wellness in luxury travel [5][6] Group 1: Ship Refurbishment - Queen Elizabeth underwent a three-week makeover in Singapore, enhancing its capacity to host 2,000 guests [1] - Signature spaces like the Commodore Club and Queens Room have been thoughtfully revitalized to connect guests with the ocean [2][3] - Outdoor decks have been revamped with more sunshades to improve guest experience in warmer weather [2] Group 2: Luxury Experience - The Grills experience has been elevated with enhanced interiors and new furniture for sunset cocktails, emphasizing comfort and style [4] - Cunard's commitment to luxury is highlighted by partnerships with renowned chefs and curated entertainment options [10] Group 3: Wellness Initiatives - The Pavilion Wellness Café offers a menu focused on plant-based cuisine and sustainably sourced ingredients, catering to health-conscious travelers [5] - The Harper's Bazaar Wellness at Sea program provides tailored wellness packages, enhancing the rejuvenating experience at sea [6] Group 4: Market Expansion - For the first time, Queen Elizabeth will spend a full season in Miami, offering roundtrip Caribbean voyages ranging from nine to 28 nights [7] - The itineraries include popular destinations such as Montego Bay, San Juan, and St John's, appealing to travelers from both sides of the Atlantic [7] Group 5: Company Background - Cunard, a luxury British cruise line, has been operating since 1840 and is celebrating 185 years in 2025 [10] - The company currently operates four ships, including the newly launched Queen Anne, marking a significant expansion in its fleet [11]

"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]

Core Viewpoint - Carnival Corporation has successfully closed a private offering of $2.0 billion in senior unsecured notes, which will be used to redeem $2.03 billion in higher-interest senior priority notes, thereby reducing interest expenses and simplifying its capital structure [1][2]. Group 1: Financial Details - The newly issued notes carry an interest rate of 6.125% and are due in 2033, with interest payments scheduled semi-annually starting August 15, 2025 [3]. - The transaction is expected to lower net annual interest expenses by over $80 million, representing a reduction of more than 4% in interest costs [2][1]. - The notes will be fully guaranteed on an unsecured basis by Carnival plc and certain subsidiaries, which also guarantee other forms of indebtedness [3]. Group 2: Strategic Implications - This transaction aligns with the company's strategy to manage future debt maturities and reduce overall interest expenses [2]. - The indenture governing the notes includes investment-grade-style covenants, indicating a focus on maintaining financial stability [2]. Group 3: Offering Details - The notes were offered exclusively to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S of the Securities Act [4]. - The notes will not be registered under the Securities Act, limiting their sale in the U.S. without proper registration or exemption [5].