- Wednesday, October 16, 2024
Carnival Corp. (CCL) announced today that it is nearly fully booked for the first half of 2024. Despite experiencing rerouting around the Red Sea conflict, the company expects an impact of 7 to 8 cents per share in its adjusted 2024 earnings, with the majority of the impact occurring in the second quarter. However, Carnival has not observed any negative effects on booking trends resulting from the Red Sea situation. Furthermore, there are no other planned Red Sea transits until November.
The company is pleased to report that it has seen an exceptional start to the wave season, surpassing expectations. Since November, booking volumes have reached an all-time high. Carnival remains optimistic about its future prospects, stating, "For 2024, the company continues to have its best booked position on record, with both pricing and occupancy significantly higher than 2023 levels." The strong momentum in bookings is expected to drive performance throughout the year, effectively offsetting the impact of the Red Sea rerouting.
In premarket trading, Carnival Corp.'s stock showed a 1.5% increase.
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