Why Carnival Sailed 34% Higher in January

Shares of Carnival (NYSE: CCL) jumped 34.2% in January compared to where it closed out 2022, according to data provided by S&P Global Market Intelligence, as the cruise line operator, which is working to return to full capacity, said it would raise its prices. The increase in certain rates suggests there is still strong, latent demand for ocean-going travel that bodes well for the cruise company's profitability. Revenue per passenger cruise days for the period was up sequentially from the third quarter and ahead of 2019 even though occupancy was a full 19 percentage points lower than three years ago.