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David Bernstein News

28 Mar 2024

Carnival Raises Profit Forecast on Record Cruise Demand

© Daniel / Adobe Stock

Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time.Cruise operators are recording all-time high booking rates as more travelers switch to cheaper sea-borne experiences over expensive land-based alternatives such as booking hotels or flights, providing them more room to raise prices.U.S.-listed shares of the company were flat in volatile trading.

21 Dec 2021

Carnival's Long-term Demand Indicates Omicron Threat Will Fade Soon

© Solarisys / Adobe Stock

Carnival Corp on Monday flagged a hit to its near-term bookings from Omicron, even as demand for cruises late next year and beyond suggest a short-lived impact from new coronavirus variants.Shares of Carnival gained 3.3% as the cruise operator said new COVID-19 variants have not had a significant impact on its plan to return its full fleet to operations in the spring of 2022.The fast-spreading COVID-19 Omicron variant has been a cause of concern over the last month, creating some…

24 Jun 2014

Carnival's Profit Forecast Down

Carnival Spirit (Photo courtesy of Carnival)

Carnival Corp, the world's largest cruise operator, forecast an adjusted profit below market estimates for the current quarter, blaming increased competition in the Caribbean. Shares of the company, which operates the Carnival, Holland America and Costa cruise lines, fell as much as 3 percent. "The North American brands are ahead on price but are still behind on occupancy as a result of the large increase in industry capacity in the Caribbean," Chief Financial Officer David Bernstein said on a conference call.

10 Jul 2007

Carnival's Dickinson to Retire

Bob Dickinson, president and CEO of Carnival Cruise Lines, will retire at the end of the year. He will remain on the company's board of directors. Gerry Cahill, executive vice president and CFO of Carnival Corporation & plc, will assume Dickinson's responsibilities as president and CEO effective immediately so that there is an ample transition period. David Bernstein, Carnival Corporation & plc's vice president and treasurer, will become the company's CFO, also effective immediately. "I have been blessed to have had a long, fun-filled career helping to build Carnival and the cruise industry. I'm still having fun so giving all of that up has been a very difficult decision but I'll be 65 next month and have been pondering this with my family for some time," Dickinson said.