Carnival Corp. (CCL) Tops Q2 EPS by 13c, Offers Outlook

Carnival Corp. (NYSE: CCL) reported Q2 EPS of $0.11, $0.13 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $5.78 billion versus the consensus estimate of $5.68 billion.

2024 Outlook

For the full year 2024, the company expects:

• Net yields (in constant currency) up approximately 10.25 percent compared to 2023, approximately 75 basis points better than March guidance, based on continued strength in demand and with occupancy at historical levels.
• Adjusted cruise costs excluding fuel per ALBD (in constant currency) approximately 0.5 percentage points better than March guidance.
• Adjusted EBITDA of approximately $5.83 billion, up nearly 40 percent compared to 2023, and better than March guidance by approximately $200 million.
• Adjusted net income of approximately $1.55 billion, better than March guidance by approximately $275 million.
• Adjusted return on invested capital ("ROIC") of approximately 10 percent.
• For the third quarter of 2024, the company expects:
• Net yields (in constant currency) up approximately 8.0 percent compared to 2023 levels.
• Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 4.5 percent compared to the third quarter of 2023.
• Adjusted EBITDA of approximately $2.66 billion, up 20 percent compared to the third quarter of 2023.
• Adjusted net income of approximately $1.58 billion, up 35 percent compared to the third quarter of 2023.
• See "Guidance" and "Reconciliation of Forecasted Data" for additional information on the company's 2024 outlook.

For earnings history and earnings-related data on Carnival Corp. (CCL) click here.

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