Carnival Boosts Profit Forecast Amid Steady Cruise Demand
Carnival Corp has raised its annual profit forecast for the second time this year, driven by increased prices for its itineraries and sustained demand for cruise holidays. The company’s shares rose 4.3% to $17.05 in premarket trading. This year has been a record for cruise operators, with booking volumes reaching an all-time high. Carnival now expects 2024 adjusted profit per share of about $1.18, up from its earlier forecast of 98 cents per share.
The company reported a strong second quarter with record revenues of $5.8 billion and an adjusted net income of $134 million, surpassing March guidance by nearly $170 million. Total customer deposits also reached an all-time high of $8.3 billion. For the third quarter of 2024, Carnival expects an adjusted profit of $115 per share, which is anticipated to exceed analysts' expectations. The firm has also noted a strong bookings momentum for 2025 sailings, indicating continued robust demand for cruise holidays.
