Summary by Moomoo AI
Carnival Corporation reported Q1 FY2025 revenues of $5.81 billion, up 7.5% from $5.41 billion in Q1 FY2024, driven by higher ticket prices and increased occupancy. Passenger ticket revenues rose 6% to $3.83 billion while onboard revenues grew 11% to $1.98 billion. The company achieved 103% occupancy, up from 102% last year.Operating income nearly doubled to $543 million from $276 million, benefiting from improved pricing and cost efficiencies. However, the company posted a net loss of $78 million, narrowed from $214 million loss last year, as $252 million in debt extinguishment costs offset operational gains. Interest expenses decreased 20% to $377 million due to lower debt levels and reduced rates.The company maintained strong liquidity of $3.8 billion, including $833 million in cash and $2.9 billion in available credit facilities. Customer deposits increased to $6.85 billion from $6.43 billion in Q4 2024, reflecting solid forward bookings. Carnival continues to focus on debt reduction while investing in fleet expansion, with $8.7 billion in undrawn export credit facilities for future ship deliveries through 2033.
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