Carnival Corporation plc (CCL) Q3 2024 Earnings Report

In the third quarter of 2024, Carnival Corporation plc (CCL) achieved unprecedented financial performance, highlighted by record revenues of nearly $8 billion, a 15.2% increase year-over-year, and an operating income of $2.18 billion, demonstrating a robust 34% year-over-year growth. Strong demand across all major brands not only improved revenues but also enhanced profitability, with EBITDA reaching $2.82 billion, surpassing guidance by $160 million. This strategic execution positions Carnival firmly on track for a record EBITDA of $6 billion by year-end 2024, nearly $600 million above previous peaks. Management anticipates a commendable return on invested capital (ROIC) of 10.5%, driven by high-margin yield growth and optimized pricing strategies. The outlook for 2025 and 2026 remains positive, underscored by significant booked positions and favorable consumer trends, cementing Carnival's competitive advantage in the cruising market.