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.
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.