Carnival Corporation third-quarter revenues hit an all-time high of $7.9 billion, with net income up 60% to $1.7 billion.
The cruise giant’s quarterly revenue was up $1 billion on the prior year, while net income outperformed guidance from June by $170 million.
Carnival Corporation upgraded its full-year 2024 adjusted earnings [ebitda] guidance to $6 billion, which would be an increase of 40% compared to 2023.
This was attributed to “strong demand” and “cost-saving opportunities”.
The company also reported its cumulative advanced booked position for full year 2025 is above the previous 2024 record.
Chief executive Josh Weinstein said: “We delivered a phenomenal third quarter, breaking operational records and outperforming across the board.
“Our strong improvements were led by high-margin, same-ship yield growth, driving a 26% improvement in unit operating income, the highest level we have reached in 15 years.
“We are poised to deliver record operating performance for full year 2024, with adjusted ebitda now expected to cross $6 billion and adjusted return on invested capital to be approximately 10.5%.
“Strong demand enabled us to increase our full-year yield guidance for the third time this year and we improved our cost guidance driving more revenue to the bottom line.”
He added: “With nearly half of 2025 booked and less inventory remaining for sale than the prior year, we are leveraging strong demand to achieve record ticket pricing in constant currency.
“Our brands continue to deliver robust bookings momentum, with all our brands ahead on price for 2025 sailings, based on the success of their demand generation efforts along with the exciting offerings and unparalleled experiences we consistently provide our guests.
“Likewise, 2026 is off to an unprecedented start achieving record booking volumes in the last three months.”
The company continues to “strategically direct” new capacity towards its highest returning brand with a recent order of three additional ships for Carnival Cruise Line for delivery in 2029, 2031 and 2033.
“These ships will become the largest ships in the company’s fleet and will carry more passengers than any other cruise ship to date,” the group said.
“The company is following through on its measured capacity growth strategy of one to two ships per year on average, including just three ships scheduled for delivery through 2028. This will enable the company to utilise its substantial free cash flow to strategically improve its balance sheet by significantly reducing its leverage levels over the next several years.”