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Carnival PLC on Wednesday marked a ‘fantastic’ start to 2023, as it hit a ‘record’ revenue. Shares in the cruise ship operator were down 1.0% to $16.66 each in London on Wednesday afternoon. In the first quarter of 2024, Carnival reported ‘record’ revenue of $5.41 billion, up from $4.43 billion a year earlier. Carnival said it swung to a GAAP net loss of $214 million from a profit of $686 million. During the first quarter, booking volumes hit an all-time high with prices considerably higher year over year. Looking ahead, Carnival expects 2024 adjusted earnings before interest, tax, depreciation and amortisation of $5.63 billion, up 30% annually and surpassing December guidance. ‘This has been a fantastic start to the year. We delivered another strong quarter that outperformed guidance on every measure, while concluding a monumental wave season that achieved all-time high booking volumes at considerably higher prices,’ commented Chief Executive Officer Josh Weinstein. ‘These results are a continuation of the strong demand we have been generating across our brands and all core deployments, leading to an upward revision of full year expectations by more than a point of incremental yield improvement and setting us up nicely to deliver a nearly double-digit improvement in net yields.’ Copyright 2024 Alliance News Ltd. All Rights Reserved.
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