Carnival Reports Record-Breaking Third Quarter in 2024

Carnival Corporation Reports Record-Breaking Third Quarter in 2024

Carnival Corporation (CCL) delivered an impressive performance in the third quarter of 2024, with profits soaring over 60% year-over-year. The company posted a net income of $1.7 billion, driven by strong demand and a record $7.9 billion in revenues—an increase of $1 billion compared to Q3 2023.

CEO Josh Weinstein Attributes Success to Strong Demand and Strategic Initiatives

Carnival’s success is largely due to rising consumer demand, cost-saving measures, and elevated onboard experiences. “We’ve exceeded our 2024 goals and are already on track for a robust 2025, with nearly half of next year’s cruises booked,” said CEO Josh Weinstein.

Guests are also spending more onboard, opting for premium dining, excursions, and entertainment, further boosting revenues.

Strong Bookings and Price Increases for 2025

Looking ahead, Carnival expects 2025 to be another strong year, with prices set to rise in response to continued consumer interest. Customer deposits for future cruises reached an all-time high of $6.8 billion in Q3 2024.

Carnival is also preparing to welcome two highly anticipated ships: the Sun Princess, set to debut in the Caribbean next month, and the Star Princess, joining the fleet in 2025. Both next-generation vessels promise enhanced features that will elevate the cruise experience and further solidify Carnival’s leadership in the industry.

New Bahamian Destination and Half Moon Cay Upgrades

A major highlight of Carnival’s growth is the launch of Celebration Key, a new premium Bahamian destination set to open in July 2025. Designed exclusively for Carnival guests, Celebration Key will offer luxurious cabanas, a private retreat at Pearl Cove Beach Club, and diverse shore excursions. By 2026, this island will host 19 Carnival ships, becoming a key feature of Carnival’s Caribbean itineraries.

Additionally, Half Moon Cay—Carnival’s beloved private island—will undergo significant enhancements, including a larger beach area, new dining options, and a pier to accommodate larger ships, ensuring even more guests can enjoy this top-tier destination.

Carnival Corporation’s Expanding Fleet and Global Presence

Carnival Corporation continues to operate seven distinct cruise brands: Carnival Cruise Line, Princess Cruises, Holland America Line, Cunard Line, P&O Cruises UK, Seabourn Cruises, and AIDA Cruises. In early 2025, P&O Cruises Australia will transition under the Carnival Cruise Line brand, further streamlining Carnival’s global fleet.

With record-setting earnings, exciting new ships, and premium destinations, Carnival Corporation is poised for continued growth and success in the cruise industry.