Carnival Corporation reports ‘monumental wave season’

Carnival Corporation has reported record first-quarter revenues of $5.4 billion with “continued strength in demand driving ticket prices higher”.

The parent of cruise brands such as Cunard, Holland America Line and P&O Cruises said it made a net loss of $214 million in the three months to the end of February, compared to a loss of $686 million in the same period last year.

The adjusted net loss of $180 million was better than December guidance, “with continued strength in demand driving ticket prices higher”, said the company.

Total customer deposits reached a first-quarter record of $7 billion, surpassing the previous first quarter record by $1.3 billion.

Josh Weinstein (pictured), chief executive, said: “This has been a fantastic start to the year. We delivered another strong quarter that outperformed guidance on every measure, while concluding a monumental wave season that achieved all-time high booking volumes at considerably higher prices.

“These results are a continuation of the strong demand we have been generating across our brands and all core deployments.

“With much of this year on the books, we have even greater conviction in delivering record revenues and Ebitda [earnings before interest and taxes], along with a step change improvement in operating performance, and have begun turning more of our attention to delivering an even stronger 2025.”

He added: “Even with less inventory available for the remainder of the year, booking volumes hit an all-time high, driven by demand for 2025 sailings and beyond.”

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