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Carnival Corporation CEO Promises More Revenue to Bottom Line

Carnival Celebration sails from Miami

Investors in Carnival Corporation should be looking forward to more revenue heading to the bottom line in 2023, according to President and CEO Josh Weinstein, speaking on the company’s year-end and fourth quarter earnings call on Wednesday.

“While building back demand and enhancing our yield management tools and strategies, we are optimizing the combination of occupancy, ticket, and onboard to deliver revenue to the bottom line in the near term while maintaining price integrity for the long term,” said Weinstein.

Trimming operating costs, divesting of less efficient ships and adding new vessels is also helping, he said.

“On a complementary basis, our industry-leading operating costs and fuel consumption per ALBD set us up to effectively deliver more of this revenue to the bottom line,” Weinstein said.

Weinstein, who took over as CEO over the summer, said the corporation remains focused on revenue growth.”

“Overall, we remain focused on driving revenue growth that hits the bottom line and accelerating our return to strong profitability,” he continued. “And over time, this revenue generation, our industry-leading cost base, and our more focused capital expenditure profile will support significant free cash flow and propel us on the path to deleveraging, investment-grade credit ratings, and higher ROIC. This has been a truly remarkable year, and we have come a long way in an incredibly short amount of time.”

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