Business
Carnival Corporation 2Q 2022 Business Update
Carnival Corporation 2Q 2022 Business Update.
About this update from Carnival Plc
[{"type":"text","content":"\n \n CARNIVAL CORPORATION & PLC PROVIDES SECOND QUARTER 2022 BUSINESS UPDATE\n MIAMI, June 24, 2022 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) provides second quarter 2022 business update.\n \n \n U.S. GAAP net loss of $1.8 billion and adjusted net loss of $1.9 billion for the second quarter of 2022.\n \n \n Cash from operations turned positive in the second quarter of 2022.\n \n \n Second quarter 2022 ended with $7.5 billion of liquidity, including cash, short-term investments and borrowings available under the company's revolving credit facility.\n \n \n Revenue increased by nearly 50% in the second quarter of 2022 compared to first quarter 2022, reflecting continued sequential improvement. For the cruise segments, revenue per passenger cruise day (\"PCD\") for the second quarter of 2022 decreased slightly compared to a strong 2019.\n \n \n Occupancy in the second quarter of 2022 was 69%, an increase from 54% in the prior quarter.\n \n \n Customer deposits increased $1.4 billion to $5.1 billion as of May 31, 2022 from $3.7 billion as of February 28, 2022.\n \n \n As of June 24, 2022, 91% of the company's capacity is in guest cruise operation.\n \n \n Booking volumes for all future sailings during the second quarter of 2022 were nearly double the booking volumes during the first quarter of 2022; the company notes these were its best quarterly booking volumes since the beginning of the pandemic.\n \n \n As previously announced, effective August 1st, Arnold Donald, President and CEO, is being appointed Vice Chair of the Boards of Directors. Josh Weinstein, currently Chief Operations Officer for the company, will assume the role of President and CEO of Carnival Corporation & plc. At that time, Weinstein will also assume the role of Chief Climate Officer and become a Director on the Boards of Directors. A 20-year veteran of Carnival Corporation & plc, Weinstein has a long history of success in critical senior-level roles in the company. In his most recent assignment for the past two years as Carnival Corporation & plc's Chief Operations Officer, Weinstein oversaw several major operational functions including global maritime, global ports and destinations, global sourcing, global IT and global internal audit. During this time, he also oversaw Carnival UK, the operating compan...