share_log

Carnival | 10-Q: Q2 2024 Earnings Report

SEC ·  Jun 27 22:22

Summary by Futu AI

Carnival Corporation reported a significant increase in financial performance for the quarter ended May 31, 2024. The company's passenger ticket revenues surged by 20% to $3.8 billion from $3.1 billion in the same period last year, driven by a 5.4% increase in Available Lower Berth Days (ALBDs) and a 5.6 percentage point increase in occupancy. Onboard and other revenues also rose by 15% to $2.0 billion. The North American and Australian (NAA) segment saw a 21% increase in passenger ticket revenues, while the Europe segment experienced a 17% rise. Operating income for the quarter improved dramatically to $560 million, a $440 million increase from the previous year's $120 million. Interest expenses decreased by 17% due to lower total debt and interest rates. The company's liquidity stood at $4.6 billion, including cash and available...Show More
Carnival Corporation reported a significant increase in financial performance for the quarter ended May 31, 2024. The company's passenger ticket revenues surged by 20% to $3.8 billion from $3.1 billion in the same period last year, driven by a 5.4% increase in Available Lower Berth Days (ALBDs) and a 5.6 percentage point increase in occupancy. Onboard and other revenues also rose by 15% to $2.0 billion. The North American and Australian (NAA) segment saw a 21% increase in passenger ticket revenues, while the Europe segment experienced a 17% rise. Operating income for the quarter improved dramatically to $560 million, a $440 million increase from the previous year's $120 million. Interest expenses decreased by 17% due to lower total debt and interest rates. The company's liquidity stood at $4.6 billion, including cash and available borrowings. Carnival highlighted several risks that could impact future results, such as geopolitical events, pandemics, and climate change regulations. The company also noted the potential impact of a global minimum tax and the EU ETS on its financials. Despite these challenges, Carnival's increased capacity and demand for cruises have led to a robust quarter. The company continues to focus on strategic initiatives to enhance its financial health and operational flexibility.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.