Carnival Corporation & plc announced financial results for the fourth quarter and full year 2024, outperforming its fourth-quarter guidance and achieving record full-year operating results. The company also provided a positive outlook, expecting 20% earnings growth in 2025.
For the fourth quarter, adjusted EPS was $0.14, significantly beating the consensus estimate of $0.08, and a substantial improvement from a $0.07 loss a year ago. Quarterly sales grew 10% year-over-year to $5.938 billion, marginally surpassing the street view of $5.932 billion. Operating income reached $561 million, up 46.1% year-over-year.
Full-year 2024 revenue hit an all-time high of $25.0 billion, representing a 16% increase from fiscal year 2023. The company forecasts strong bookings for 2025, with yield growth projected to far outpace historical growth rates and exceed unit cost growth, signaling continued positive momentum.
The company's strong performance is attributed to resilient demand for cruises, particularly from Americans, and effective commercial strategies. CEO Josh Weinstein expressed optimism for continued growth, highlighting that 2025 is shaping up to be another banner year for the company.
This robust financial performance and optimistic guidance are critical for investor confidence, demonstrating Carnival's successful navigation of the post-pandemic environment and its path towards sustained profitability. The focus on yield growth exceeding unit cost growth is a key indicator of margin expansion.
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