Carnival Turns To Profit In Q2; Raises 2024 Adj. Net Income Guidance

(RTTNews) - Carnival Corporation & plc (CCL, CCL.L, CUK) reported second quarter net income of $92 million or $0.07 per share compared to a loss of $407 million or $0.32 per share, a year ago. Adjusted net income was $134 million or $0.11 per share compared to a loss of $395 million or $0.31 per share, last year. On average, 17 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenues increased to $5.78 billion from $4.91 billion, last year. Analysts on average had estimated $5.68 billion in revenue.

For 2024, the company expects: adjusted EBITDA of approximately $5.83 billion, up nearly 40 percent compared to 2023, and better than March guidance by approximately $200 million; and adjusted net income of approximately $1.55 billion, better than March guidance by approximately $275 million. Adjusted earnings per share is projected to be approximately $1.18.

For the third quarter of 2024, the company expects: adjusted EBITDA of approximately $2.66 billion, up 20 percent compared to the third quarter of 2023; and adjusted net income of approximately $1.58 billion, up 35 percent compared to the third quarter of 2023. Adjusted earnings per share is projected to be approximately $1.15.

The company said it continues to experience strong bookings momentum driven by record booking volumes for 2025 sailings.

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