Carnival Corp's Growth Momentum Strong Heading into 2025

Carnival Corporation CEO, Josh Weinstein, emphasized the company's strong momentum during its third-quarter earnings call on Monday morning, noting how they are actively managing demand.

Weinstein revealed that almost half of the company's 2025 cruises have already been sold.

“At this point in time, 2025 is at historical highs in both occupancy and pricing,” Weinstein shared with Wall Street analysts.

He further explained, "All core deployments are at higher prices than the prior year. Every brand in our portfolio is well booked at higher pricing in 2025, demonstrating the ongoing benefit of our demand generation efforts throughout our optimized portfolio,"

Weinstein attributed the success to Carnival's base loading strategy, which he identified as a critical factor driving these results.

"In fact, in the last three months, our 2025 booked positions price advantage versus last year has actually widened for the full year and for each quarter individually. And with nearly half of 2025 already booked, we feel confident in maintaining our trajectory."

He also touched on future growth, saying, “While early days, the benefit of our enhanced commercial performance is carrying nicely into 2026 as we just achieved record booking volumes in the last three months for sailings that for out,” he continued. “This incredibly strong booked position for 2024, 2025 and 2026 drove record third quarter customer deposits towards $7 billion, and that’s along with continued growth in pre-cruise purchases of onboard revenue.”

Weinstein added that this strong booking performance for 2024, 2025, and 2026 has contributed to record-high third-quarter customer deposits, nearing $7 billion, along with steady growth in pre-cruise onboard purchases.