Carnival Corporation reports ‘all-time high’ Q3 revenue of $7.9bn

Carnival Corporation third-quarter revenues hit an all-time high of $7.9 billion, with net income up 60% to $1.7 billion.

The cruise giant’s quarterly revenue was up $1 billion on the prior year, while net income outperformed guidance from June by $170 million.

Carnival Corporation upgraded its full-year 2024 adjusted EBITDA guidance to $6 billion, which would be an increase of 40% compared to 2023.

This was attributed to “strong demand” and “cost-saving opportunities”.

The company also reported its cumulative advanced booked position for full year 2025 is above the previous 2024 record.

Chief executive Josh Weinstein said: “We delivered a phenomenal third quarter, breaking operational records and outperforming across the board.

“Our strong improvements were led by high-margin, same-ship yield growth, driving a 26% improvement in unit operating income, the highest level we have reached in 15 years.

“We are poised to deliver record operating performance for full year 2024, with adjusted EBITDA now expected to cross $6 billion and adjusted return on invested capital to be approximately 10.5%.

“Strong demand enabled us to increase our full-year yield guidance for the third time this year and we improved our cost guidance driving more revenue to the bottom line.”