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Carnival Corporation full year 2023 report

FinanceCarnival Corporation reported revenues at an all-time high of USD 21.6 billion (USD 12.2 billion). Adjusted EBITDA went from a loss of USD 1.7 billion last year to a profit of USD 4.2 billion. Ahead of 2024, the company sees its best booked position on record, for both price and occupancy.

Full Year 2023

  • Full year revenues hit an all-time high of USD 21.6 billion.
  • Full year cash from operations was USD 4.3 billion and adjusted free cash flow was USD 2.1 billion.
  • U.S. GAAP net loss of USD 74 million and positive adjusted net income of USD 1 million outperformed the September guidance range
  • The company made debt payments of USD 6 billion, reducing its debt balance by USD 4.6 billion from its peak in the first quarter of 2023 and ended the year with USD 5.4 billion of liquidity.
  • The company entered 2024 with its best booked position on record, for both price and occupancy

2024 Outlook 

  • Adjusted EBITDA of approximately USD 5.6 billion, over 30 percent growth compared to 2023
  • Net yields (in constant currency) up approximately 8.5 percent compared to 2023, with full year occupancy returning to historical levels and nicely higher net per diems (in constant currency) reflecting continued strength in pricing and onboard spending
  • Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 4.5 percent compared to 2023

Dec 22 2023


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