Carnival’s 2023 Record Revenue & Capacity

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As the world’s largest cruise operator, Carnival Corporation (CCL) achieved significant milestones in the past year, demonstrating its commitment to providing exceptional cruise experiences while maintaining robust financial health.

Record-Breaking Revenues

Carnival Jubilee exterior

Carnival Corporation’s annual revenues reached an all-time high of $21.6 billion in 2023, thanks to the company’s successful strategies and the growing popularity of cruises.

Notably, the fourth quarter of 2023 saw record revenues of $5.4 billion, emphasizing the strong demand for cruise vacations. Furthermore, the company experienced record-breaking booking volumes during Black Friday and Cyber Monday, both positive signals for future revenue.

Reduction in debt

Carnival Corporation accomplished a significant feat in reducing its debt this year. The company made substantial payments totaling $6 billion, which lowered its debt balance by $4.6 billion from its peak in early 2023.

At the end of the year, Carnival Corporation had $5.4 billion in available cash and credit facilities, placing the company in a strong financial position to face future challenges and take advantage of opportunities.

Passengers capacity up

Caribbean Princess, Carnival Vista, Carnival Horizon
Caribbean Princess, Carnival Vista, Carnival Horizon

The cruise line has seen a remarkable increase in passenger capacity, with occupancy rates surpassing 100% in the fourth quarter of 2023.

Additionally, customer deposits reached a record high of $6.4 billion in the fourth quarter, surpassing the previous record by 25%. This indicates a high level of consumer confidence and anticipation for future cruises.

Environmental strides

sun princess main dining room

Carnival Corporation continues to make strides in its sustainability efforts. The company reduced its greenhouse gas emissions by over 10% compared to its peak year of 2011, despite a 30% increase in capacity.

It has also made significant progress in reducing food waste and is on track to achieve its ambitious sustainability targets ahead of schedule.

The cruise operator will mark another significant milestone this weekend when Carnival Jubilee enters service from Galveston, Texas. Princess Cruises’ next ship, Sun Princess, will debut early next year in Europe as the line’s first Sphere-class vessel.

RELATED: Carnival Cruise Line Ships by Size

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