Carnival posted better-than-expected second-quarter earnings while bookings made during the quarter for future sailings hit an all-time high.
Josh Weinstein, chief executive said revenue had hit "a meaningful inflection point" in the quarter with net yields surpassing 2019's strong levels and “positive operating income, cash from operations and adjusted free cash flow."
Total customer deposits in the May quarter were US$ 7.2 bn, also topping the previous high in 2019, while revenue was another record at US$4.9bn.
Second quarter underlying profits of US$681mln were at the top end of its forecast.
The cruise operator still posted a net loss of US$407mln for the half year, but this was ahead of guidance of US$425-525mln.
As a result, Carnival upped its estimates for annual underlying earnings [EBITDA] to US$4.1bn-US$4.25bn with third-quarter earnings to be between US$2.05-US$2.15bn.
Weinstein added: "We are already executing our strategy to grow revenue by taking up ticket prices, even while maintaining record onboard spending levels, building occupancy and growing capacity."
“Based on continued strength in pricing, we delivered outperformance in the second quarter and raised our expectation for revenue in the second half, which coupled with the interest expense benefit we are capturing from deleveraging will bring another US$275 million dollars to the bottom line for the year."