What’S Going On With Carnival Cruise Line?

Carnival Cruise Line is monitoring multiple ships potentially in the path of Hurricane Beryl and has confirmed changes for another vessel, Carnival Liberty’s itinerary reversal. Six Carnival cruise ships are facing or have already made changes for the storm. Carnival Dream will open new sailings with six- and eight-day itineraries, visiting Western Caribbean destinations like Belize, Mahogany Bay, and Isla Roatan. The cruise line will welcome the first of the three new vessels in the summer.

Carnival Corporation plc, the world’s largest cruise company, announced an order for three additional ships for Carnival Cruise Line. Carnival Vista will restart sailings from Port of Galveston on July 3, followed by Carnival Breeze. Carnival Cruise Lines is also introducing a new class of ship that will deliver even more fun to the most guests. Cruising with Carnival is easy, with vaccines and testing no longer required for most cruises. Carnival assumes no responsibility for advising guests of proper travel documentation requirements.

What is Carnival’s big announcement?

Carnival Cruise Line on Tuesday announced that it ordered three massive new cruise ships that will be among the biggest ever built.

Scheduled to debut between 2029 and 2033, the three vessels will be the biggest ever for Carnival at 230,000 tons. That’s about 25% bigger than the biggest Carnival vessels currently in operation.

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They’ll also be among the biggest at any cruise line. Only three cruise ships currently sailing are bigger than 230,000 gross tons: Royal Caribbean’s recently unveiled Icon of the Seas, Utopia of the Seas and Wonder of the Seas.

Is Carnival Cruise Line still in business?

If you’re thinking of cruising, there’s a very good chance you’re considering a Carnival cruise. Growing since our founding in 1972, Carnival Cruise Line — “The World’s Most Popular Cruise Line®” — now carries millions of guests every year. Plus we’re so pumped about our latest ships, Carnival Jubilee®, which set sail last December… and Carnival Firenze™, now sailing from Long Beach!

Carnival Cruise Line is proud to be part of a family of companies owned by Carnival Corporation, which includes sister lines Princess Cruises, Holland America Line and Cunard Line, among others.

Carnival Corporation, parent company of Carnival Cruise Line and other great brands, is the global leader in the cruise industry, leading the way in innovative and sustainable cruising to deliver memorable vacations and build borderless connections. But we never forget to create unforgettable happiness for our guests during their extraordinary cruise vacations, all while honoring the integrity of every ocean we sail, place we visit and life we touch.

Is a Carnival cruise in debt?

Total debt on the balance sheet as of May 2024 : $30.65 B. According to Carnival Corporation’s latest financial reports the company’s total debt is $30.65 B.A company’s total debt is the sum of all current and non-current debts.

Carnival Corporation – Total debt on balance sheet (from 2001 to 2024)

Why are Carnival cruises so expensive right now?

Renewed importance of booking your cruise in advance. With the record demand Carnival is seeing, inventory is selling out further in advance, leaving guests with fewer cabin choices, higher prices, and fewer last-minute deals.

Not only does booking early help ensure you get the best rate, but you also have more time to save up for the cruise.

When you make your reservation, you only have to place a deposit, rather than pay the entire fare upfront. The final payment date varies based on the duration of your sailing. For cruises 5 nights or less, it’s 76 days before sailing. It increases to 91 days prior to sailing for cruises 6 nights or longer.

Read more: 15 things I wish I knew before setting foot on a Carnival ship.

Why is Carnival getting rid of ships?

During the first few months of the shutdown, Carnival Corporation announced that at least 13 older ships across several cruise brands would be sold or scrapped. This was part of slimming down and eliminating its least efficient ships.

But that number kept growing. The number of ships leaving Carnival Cruise Line, Princess Cruises, Holland America Line, AIDA, and P&O Cruises fleets eventually increased to 21.

While some ships found new homes in Europe and Asia, many met a sad fate in scrapyards on the shores of India and Turkey.

How is Carnival Cruise Line doing financially?

Carnival lifted its 2024 adjusted net income guidance by $275 million to $1.55 billion, compared with FactSet’s call for $1.37 billion. The company forecast third quarter adjusted net income to increase 35% to $1.58 billion, ahead of Wall Street’s expectation of $1.54 billion.

Is Carnival Cruise going to recover?

Demand for cruises is still hot. Carnival demonstrated an incredible recovery last year, as expected. Now it’s keeping up its solid performance as it fields high demand, with record revenue and improving profitability.

The 2024 fiscal first-quarter (ended Feb. 29) results surpassed expectations across several metrics. Revenue was a record $5.4 billion, 23% higher than last year. It had record first-quarter deposits of $7 billion, and generally accepted accounting principles (GAAP) net loss improved from $693 million last year to $214 million this year.

Management had previously said that it was coming into 2024 in its best booked position ever, and it’s already in a better position for 2025 than it was for 2024 at this time last year. It has limited inventory for the rest of the year, pushing out bookings from strong demand into a longer curve at higher ticket prices, setting itself up for a strong start to 2025.

Carnival is still experiencing high demand as a pushback from lockdown, and that’s not going to last forever. The current increased demand illustrates consumer confidence in Carnival as well as high overall interest in its product, indicating an enduring business model that can withstand short-term challenges and bounce back. Five years from now, demand is likely to be completely normalized, but still strong. In other words, it should be similar to its pre-pandemic performance.

Why is Carnival losing money?

Carnival’s recovery. Admittedly, Carnival stock had looked uninvestable for years. The company earned little revenue for several quarters. Even when cruises resumed in mid-2021, it took months for the company to rebuild the customer base to the point where all its ships could sail again.

As a result, Carnival endured years of losses. In fiscal 2022, well after it had returned to the seas, it lost more than $6 billion, which was not much of an improvement from the $9.5 billion loss in fiscal 2021, when it did not sail for half of the year. Also, in fiscal 2023 (ended Nov. 30, 2023), the company still lost $74 million.

But despite a $48 million loss in fiscal Q4, its nearly $1.1 billion in net income in fiscal Q3 (ended Aug. 31, 2023) showed it can again be a profitable company. With that, Carnival has moved ahead of its three-year financial targets, and analysts forecast a return to profitability in fiscal 2024.

Moreover, bookings are at record highs. Also, by the end of fiscal Q4, it had already booked two-thirds of its cabins for fiscal 2024. And since the company has booked those cabins at considerably higher prices, this should boost its financials. Further improvement should come as it plans to increase its capacity by more than 5% in fiscal 2024.

Why did Carnival go down?

Cruise line operator Carnival (NYSE:CCL, CUK) was capsized by the rogue pandemic wave. Because its industry was drydocked longer than virtually any other due to COVID-19, cruise ship stocks were brought to the brink.

Forced to take on massive amounts of debt to survive, cruise operators are still listing and Carnival stock is down 5% year-to-date. Shares remain 60% below their pre-pandemic high.

Yet Carnival also recently reported earnings that were stronger than expected. A surprise second-quarter profit caught Wall Street unaware as it was looking for another quarter of losses. With record bookings and a demographic primed for cruising, is Carnival stock about to ride a tsunami of growth higher? Let’s look at the evidence to see whether CCL will hang ten or sink to Davy Jones’ locker once again.

Carnival’s second quarter was a welcome reprieve. Revenue of $5.8 billion set a new record for the cruise ship operator as did customer deposits for future cruises of $8.3 billion. Even better, the company was also able to lock in higher prices. It all combined to provide ballast for the cruise line, letting it post a GAAP profit of 7 cents per share and adjusted earnings of 11 cents per share. Analysts had forecast a 2 cents per share loss.

Which one is better, Royal Caribbean or Carnival?

Is Royal Caribbean or Carnival better? Assuming both cruise lines can fit your date, destination and amenity preferences, Royal Caribbean comes out ahead. This is particularly true if your budget can accommodate the higher cost for interior cabins and/or you aren’t traveling with kids.

Meanwhile, more price-sensitive solo/couple travelers may prefer Carnival. It offers ample specialty dining and activity options, not to mention a good experience at a generally cheaper price point. While suites are more expensive for traveling families, the entertainment available to young cruisers is hard to beat.

Which cruise line makes the most profit?

What are the leading cruise companies worldwide?. A handful of U.S.-based players dominate today’s global cruise market, namely Carnival Corporation, Royal Caribbean Cruises, and Norwegian Cruise Line. Although Royal Caribbean Cruises operates some of the largest cruise ships worldwide, the brand’s main competitor Carnival Corporation remains the leading global cruise company based on revenue. In 2023, Carnival Corporation & plc’s global revenue reached nearly 22 billion U.S. dollars, the highest figure reported by the cruise line to date. Meanwhile, Royal Caribbean Cruises’ revenue worldwide also peaked in 2023, being around 27 percent higher than in 2019. Thus, although the financial losses caused by the pandemic and the costs from investments in new ships are not to be overlooked, the passenger and revenue figures are good cause for optimism, as the cruise market is smooth sailing again.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

• Premium Statistic Travel and tourism revenue worldwide 2020-2029, by segment
• Premium Statistic Revenue of the cruises industry worldwide 2020-2029
• Premium Statistic Revenue growth of cruises worldwide 2020-2029
• Premium Statistic Countries with the highest revenue in the cruise industry worldwide 2025-2029
• Premium Statistic Share of sales channels of the global cruise industry revenue 2019-2029

What is Carnival’s debt?

Carnival amassed a ton of debt in order to survive the pandemic and currently has a long-term debt obligation of $28.55 billion. This is far too much compared to its $2.39 billion in operating income. The company can barely pay the net interest on its debt, which stands at $1.79 billion.