Carnival Corporation & plc (NYSE:CCL) Q3 2023 Earnings Call Transcript

David Bernstein: Inflation year-over-year. Just whatever inflation turns out to be for 2024 versus 2023.

Matthew Boss: Okay. That’s helpful. Thanks.

Operator: Our next question comes from Conor Cunningham with Melius Research. Please proceed.

Conor Cunningham: Hi everyone. Just a quick one on the consumer. And the – I’m just curious if there’s really been any change in bookings. I realize that you’ve talked about demand being quite strong and so on. But there’s obviously a heightened concern around the consumer in general. Are you seeing any trade down effect or change in length or maybe even like prebooking for onboard spend? I’m just trying to understand if there’s been any changes at all realizing the customers deposits are at records, but just curious there? Thank you.

Josh Weinstein: Sure. No. We’re trying to say it as plainly as we can. We just have not seen any sign of slowdown. The only slowdown we see is as we’re running out of inventory, it has to slow down. That’s it. So we feel quite good.

David Bernstein: For 2024 that is, but we have lots of cruises open for 2025 and 2026, and so there’s lots of people are booking way ahead.

Josh Weinstein: I think we’ve got time for one more, operator.

Operator: Our next question comes from Chris Stathoulopoulos with Susquehanna. Please proceed.

Christopher Stathoulopoulos: Good morning everyone. Thanks for squeezing me in here. Josh, on the Costa Cruise and the new advertising strategy or campaign announced today, how do you see that evolving over time? And should we expect this enhanced messaging or advertising to extend to other brands as we work through SEA Change? Thank you.

Josh Weinstein: Sure. No. So first, the answer is no. This is very much bespoke for Costa, and they’re Southern European guest base and who they’re trying to reach. So certainly not. And as far as how this falls out, I mean, this is going to work its way into Costa’s general themes. It already does, as I said, marry what they already do onboard. So this is just trying to make sure that it’s communicated the right way and more to come. So…

Christopher Stathoulopoulos: Thank you.

Josh Weinstein: Sure. With that, I’d say thanks, everybody, and looking forward to talking to you next quarter.

Operator: That does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line. Have a great day, everyone.