Carnival Corporation & plc: Are Its Brand Strengthening Efforts Paying Off? 

Carnival Corporation plc recently released its Q1 2024 earnings. The company’s CEO, Josh Weinstein, and CFO, David Bernstein, detailed its financial performance. Despite recent disruptions caused by an event at the Francis Scott Key Bridge, which is expected to have a less than $10 million full-year impact, the company reported a strong first quarter. CCL reported record revenues, bookings, and customer deposits in Q1 2024, outperforming the company’s first quarter guidance on yields, cruise costs excluding fuel, and EBITDA. This allowed the company to raise its full-year expectations. The company’s yields increased over 17% YoY, more than double the increase in unit costs, due in part to closing the occupancy gap and through solid mid-single-digit price increases.