Welcome to our dedicated page for Carnival PLC news (Ticker: CUK), a resource for investors and traders seeking the latest updates and insights on Carnival PLC stock.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) is a British-American cruise operator, recognized as the largest global cruise company. Headquartered in Miami, Florida, the company boasts a diverse portfolio of ten cruise line brands, including Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival's fleet encompasses over 100 vessels, providing a range of memorable vacation experiences worldwide.
With 92 ships in service by the end of fiscal 2023, Carnival has demonstrated significant recovery and growth, especially after the pandemic. The company saw nearly 13 million guests in 2019, a figure they matched again in 2023. Among its notable achievements and current projects, Carnival continues to innovate in sustainable travel. Holland America Line, for example, began a long-term biofuel test on its flagship, Rotterdam, aiming to reduce greenhouse gas emissions significantly.
Recent news highlights the company's commitment to enriching guest experiences. Princess Cruises introduced an immersive 'Voyage to the Stars' experience in Alaska, while Holland America Line's Global Fresh Fish Program was featured on 'Top Chef'. Additionally, Seabourn's launch of its Zero @ Sea mixology program showcases unique non-alcoholic cocktails, responding to evolving guest preferences.
Carnival Corporation's future projects are also promising. The Princess Cruises fleet is set to expand its itineraries in Japan and Southeast Asia for the 2025-26 season, with Diamond Princess leading the way. Moreover, the Seabourn Odyssey will offer nostalgic final voyages through Alaska before transitioning out of the fleet.
Financially, Carnival Corporation continues to show resilience and growth, reflected in their latest fiscal reports and quarterly earnings. Investors and stakeholders can look forward to a conference call scheduled on June 25, 2024, to discuss second-quarter financial results. This proactive engagement underscores Carnival's dedication to transparency and shareholder value.
On June 29, 2024, Seabourn named its new ultra-luxury expedition ship, Seabourn Pursuit, in a historic ceremony at Ngula Jar Island, Australia. This event marked the first time the Wunambal Gaambera Traditional Owners named a ship, symbolizing a unique partnership between Seabourn and the Aboriginal community.
The ceremony included cultural events such as a 'jimɨrri' smoking ceremony, traditional dance, and visits to ancient rock art sites. Seabourn President Natalya Leahy emphasized the company's commitment to sustainable tourism. In addition to the naming festivities, Seabourn announced donations to support local art and craft initiatives, highlighting a long-term relationship with the Wunambal Gaambera people.
The Seabourn Pursuit is built to PC6 Polar Class standards and features advanced technology and luxurious amenities. The ship is designed for diverse environments, enhancing the guest experience with nearly 270-degree views and a 4K Cineflex Camera for high-quality broadcasts.
Princess Cruises has launched a new restaurant, Love by Britto, onboard the Sun Princess. This exclusive venue is a collaborative project between renowned artist Romero Britto and culinary expert Rudi Sodamin. The restaurant offers a seven-course, prix fixe menu with unique presentations like heart-shaped dishes and vibrant dinnerware featuring Britto's art. Located on deck 17 aft, it accommodates 68 guests, providing an intimate setting with bold and colorful decor. The dining experience is priced at $79 per person. Special cocktails and an extensive wine list complement the menu, adding to the luxurious dining experience.
Princess Cruises has introduced the 'Better than Best Price Guarantee' for its 2025 and 2026 cruises, available from July 1 to September 2, 2024. This guarantee allows guests to book early with confidence, ensuring they receive the best price available. If a lower price for the same cruise is found before final payment, Princess will honor the lower rate and provide 120% of the difference as onboard credit. The promotion is part of Princess's effort to offer unmatched value and service, with booking volumes already 30% higher for 2025 voyages. Guests can also benefit from inclusive packages, offering significant savings on amenities.
Carnival & plc (NYSE: CCL) announced record financial results for Q2 2024, with net income improving by nearly $500 million compared to 2023. The company reported second-quarter revenues of $5.8 billion and an operating income of $560 million, almost five times higher than the previous year. Adjusted net income outperformed guidance by $170 million, driven by higher ticket prices and onboard spending.
Total customer deposits hit a record high of $8.3 billion. The company raised its full-year 2024 net yield guidance to 10.25% and adjusted net income guidance by $275 million. Bookings for 2025 are already higher in both price and occupancy compared to 2024. Carnival also announced strategic portfolio optimizations, including the sunset of the P&O Cruises (Australia) brand.
Debt prepayment initiatives have reduced secured debt by nearly 40%, and net interest expenses are expected to decrease by $85 million annually. Adjusted EBITDA for 2024 is projected to be approximately $5.83 billion, up nearly 40% from 2023.
Princess Cruises has launched an exclusive VIP package for its Love Boat-themed cruise, offering fans a chance to interact closely with the original cast members. The cruise, scheduled from August 31 to September 7, 2024, aboard the Enchanted Princess, features cast members like Jill Whelan, Bernie Kopell, Fred Grandy, and Ted Lange. The VIP package, priced at $450 per person, includes exclusive events like a cast cocktail party, reserved seating at Q&A sessions, front-of-line access for meet-and-greets, dinner with the cast, Love Boat-themed merchandise, and a signed cast photo. Additional themed activities are available for all guests. This seven-day cruise departs from New York City and visits Boston, Eastport, Saint John, and Halifax.
Holland America Line has announced a partnership with Lindt & Sprüngli (USA), the makers of LINDOR truffles. This collaboration aims to enhance the cruising experience with special chocolate-themed services and desserts. Guests can enjoy a "Sweet Dreams" turndown service featuring Lindt chocolates, and exclusive Lindt chocolate desserts, such as a tulip-shaped mousse cake and a Lindt Sundae. Additionally, a Lindt Flourless Chocolate Cake will debut in July 2024. These treats will be available fleetwide by August 2024, enriching the culinary experience on board.
Princess Cruises announced a new Captain's Circle Loyalty Accelerator program offering double cruise credits for guests purchasing the Princess Plus or Premier Packages. This promotion is valid for voyages embarking between August 1 and December 1, 2024. The program fast tracks guests to higher loyalty tiers, providing benefits such as discounts, exclusive events, and premium services. Princess Cruises president John Padgett emphasized the value of these packages, which bundle amenities like WiFi, beverages, and dining at significant savings. The Captain's Circle program has four tiers: Gold, Ruby, Platinum, and Elite, each offering progressively more perks.
Carnival announced the launch of shore power at PortMiami, marking the first major cruise port on the U.S. Eastern Seaboard to provide this capability. Carnival Conquest was the first ship to plug into landside electrical power, representing a significant milestone in Carnival's emissions reduction strategy.
The company surpassed its 2030 shore power goal seven years ahead of schedule and now leads the industry with 67% of its fleet shore power-capable. Shore power can reduce total emissions by up to 98%, contributing to Carnival's goal of achieving net zero greenhouse gas emissions by 2050. An additional 30 shore power connections will be installed onboard Carnival ships in the coming years.
Carnival's decarbonization strategy has resulted in over 10% reduction in total GHG emissions since 2011, despite a 30% increase in fleet capacity. The company continues to work with global ports to expand shore power infrastructure, aligning with broader sustainability goals.
Holland America Line's McKinley Chalet Resort now offers enhanced dining experiences with new menus at its two on-site restaurants, Karstens Public House and Canyon Steakhouse, featuring authentic Alaskan specialties. The resort has also achieved Marine Stewardship Council certification, ensuring the seafood served is sustainably sourced. New offerings at Denali Square include live music, a portable outdoor bar, educational talks, an Alaska Artist in Residence program, nature walks, and family-friendly activities. This development underscores Holland America's commitment to providing high-quality, sustainable dining options and enriching guest experiences.
Carnival & plc (NYSE/LSE: CCL; NYSE: CUK) has announced a conference call with analysts scheduled for June 25, 2024, at 10 a.m. (EDT) or 3 p.m. (BST) to discuss their second quarter financial results. The financial results are expected to be released on the same morning. The call will be accessible via a simulcast on Carnival's websites.
Carnival & plc is the world's largest cruise company, including numerous renowned cruise lines such as AIDA Cruises, Carnival Cruise Line, Costa Cruises, and others. The company also emphasizes its industry-leading sustainability initiatives, details of which can be found on their dedicated sustainability website.
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