CCL Earnings: Carnival Corp reports narrower Q1 loss; revenue climbs

CCL Earnings: Carnival Corp reports narrower Q1 loss; revenue climbs

Carnival Corporation & plc. (NYSE: CCL) on Wednesday reported a double-digit growth in revenues for the first quarter of 2024. The cruise line operator’s net loss narrowed sharply.

Carnival Corp. Q1 2024 earnings infographicCarnival Corp. Q1 2024 earnings infographic

Revenues increased by double digits to $5.41 billion in the February quarter, reflecting strong growth in both operating segments. Occupancy increased sharply to 102%.

Consequently, Q1 net loss narrowed to $214 million or $0.17 per share from $693 million or $0.55 per share in the corresponding period of 2023. The management said it expects full-year adjusted EBITDA to be around $5.63 billion.

“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,” said Carnival’s chief executive officer Josh Weinstein.

Prior Performance

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