The following is a summary of the Carnival Corporation & Plc (CCL) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Carnival Corporation achieved a record Q4 net income which improved by over $250 million year-over-year and exceeded expectations by $125 million.

• Full-year revenues reached an all-time high of $25 billion with cash from operations nearly $6 billion.

• Yield growth for full-year 2024 was 11%, primarily due to higher ticket prices and onboard spending levels.

• Notable improvements in EBITDA per ALBD and ROIC targets, with ROIC at 11% comfortably above the cost of capital.

Business Progress:

• The company welcomed three new ships in 2024: Carnival Jubilee, Sun Princess, and Queen Anne, adding value to its fleet.

• Continued focus on enhancing operational execution and destination strategy, including the introduction of the new Celebration Key destination.

• Extensive marketing initiatives and enhanced destination strategies are in place to attract more cruise guests and optimize revenue.

Opportunities:

• Strong booking trends and customer deposits indicate a continuing demand surge for 2025, with yield growth expected to exceed 4%.

• The introduction of Celebration Key and upgraded features of RelaxAway, Half Moon Cay, are targeted to enhance guest experiences and attract more customers.

• Plans for future branding and marketing of exclusive destinations offered only by Carnival.

Risks:

• The acknowledgment of less inventory for sale in 2025 compared to the previous year could potentially restrict revenue opportunities if not managed effectively.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.