Carnival Corporation (CCL) announced solid results for the third quarter of 2024, with profits soaring over 60% compared to last year.
Carnival’s Record Financial Results
The company reported $1.7 billion in net income, driven by solid demand. Revenues hit a record high of $7.9 billion, marking a $1 billion increase over Q3 2023.
CEO Josh Weinstein attributed the company’s success to heightened demand, cost-saving initiatives, and enhanced onboard experiences.
Carnival has surpassed its 2024 goals and is already on track for a strong 2025, with nearly half of next year’s cruises booked.
Read More: Carnival Cruise Ships By Size
Carnival noted that onboard spending has also surged as more guests opt for upgraded dining, excursions, and entertainment.
Strong Bookings and Increased Prices for 2025
Looking ahead to 2025, prices are set to rise compared to 2024, indicating continued consumer interest in Carnival’s offerings. Additionally, customer deposits for future cruises reached an all-time high of $6.8 billion in the third quarter.
New Ships: Sun Princess and Star Princess
Carnival is poised for growth with the upcoming debuts of two highly anticipated ships: the Sun Princess and Star Princess.
The Sun Princess is scheduled to launch Caribbean service next month, while the Star Princess will join the fleet in 2025. These next-generation ships are expected to deliver enhanced features and experiences, reinforcing Carnival’s leading position in the industry.
Celebration Key: A New Bahamian Destination
A highlight of Carnival’s expansion is launching a new premium Bahamian destination, Celebration Key, which will open in July 2025.
This island, designed exclusively for Carnival guests, will feature premium cabanas, a private retreat called Pearl Cove Beach Club, and an array of shore excursions. By 2026, Celebration Key will host 19 Carnival ships, becoming a central part of Carnival’s Caribbean itineraries.
Upgrades to Half Moon Cay
Carnival’s private island, Half Moon Cay, is also set for a major upgrade. Planned enhancements include an expanded beach area, new dining options, and a pier to accommodate larger ships, ensuring more guests can experience the destination.
Carnival Corporation runs seven cruise lines, including Carnival Cruise Line, Princess Cruises, Holland America Line, Cunard Line, P&O Cruises UK, P&O Cruises AUS, Seabourn Cruises, AIDA Cruises, and Costa Cruises.
Carnival Cruise Line will fold P&O Cruises AUS early next year under its brand.
