This substantial improvement was achieved despite higher crew travel costs and freight resulting from the Middle East disruption.

Jun 23, 2026 / receipt, needs a key / David Bernstein, CFO | earnings call 2026-06-23 | transcript 1c9f65ea-50ce-4fe4-ad62-b1d0c4ae323e | chars 15061-15190 | segment 15

About 50% of the folks that travel with us drive to get there. And that is incredibly powerful if people are looking to avoid cost, cost of error.

Mar 27, 2026 / receipt, needs a key / Josh, other | earnings call 2026-03-27 | transcript 2d2a9711-65ef-4437-a177-5809d5fcd5ea | chars 47422-47568 | segment 48

Thanks also goes out to our travel agent partners who have contributed immensely to this success.

Dec 19, 2025 / receipt, needs a key / Josh Weinstein, CEO | earnings call 2025-12-19 | transcript 5d88aa86-22f8-40af-a552-1fa472ce1a0f | chars 8299-8396 | segment 8

You mentioned a little bit earlier on the European business. In the travel industry more broadly right now, there's a lot of talk on inbound, outbound for the U.S. And I know that you source a fair amount of your European brands in Europe, and I would imagine a lot of the North American brands heavily over indexed to North American guests. But anything that you've seen in your data on any shift in flow of inbound interest to the U.S., and if that at all is a big part of your business?

Mar 21, 2025 / receipt, needs a key / Chris Stafalopoulos, other | earnings call 2025-03-21 | transcript 27ac4817-421b-464c-852a-62b1963c14b1 | chars 49526-50015 | segment 49

So as we look across your brand scale from contemporary premium luxury, and we adjust for mixed ships, uh, the earlier question, a question on regional source, uh, travelers, is there anything, uh, that is different or unique with the pace of bookings or onboard spend, uh, at this point?

Mar 21, 2025 / receipt, needs a key / Chris Stafalopoulos, other | earnings call 2025-03-21 | transcript 27ac4817-421b-464c-852a-62b1963c14b1 | chars 51621-51909 | segment 51

As we foreshadowed on the last call, we kicked off new marketing campaigns across all major brands during Wave season, to fuel more broad-based consideration for cruise travel and keep the strong momentum going.

Mar 21, 2025 / receipt, needs a key / Josh Weinstein, CEO | earnings call 2025-03-21 | transcript 27ac4817-421b-464c-852a-62b1963c14b1 | chars 4641-4852 | segment 4

Per diems for the third quarter, improving at least 6% versus the prior year, driven by higher ticket prices and improved onboard spending on both sides of the Atlantic. At the same time, our European brands on their path back to higher occupancy levels saw outside growth in occupancy of five percentage points as compared to the third quarter of 2023.

Sep 30, 2024 / receipt, needs a key / Josh Weinstein, CEO | earnings call 2024-09-30 | transcript 4bdd77e6-1463-4181-af6b-cac93557be63 | chars 10385-10738 | segment 10

I mean, what we're seeing is hundreds of small items across the board, across many brands, things like crew travel savings, other port savings opportunities, as well as a lot of sourcing savings, cost innovation, better leveraging our scale across all the brands.

Sep 30, 2024 / receipt, needs a key / Josh, CEO | earnings call 2024-09-30 | transcript 4bdd77e6-1463-4181-af6b-cac93557be63 | chars 23603-23866 | segment 23

And then sort of as a follow-up along the same lines, right, as we think about Europe versus NAA per diems, obviously Europe had a big occupancy tailwind the last couple quarters, and it seems like that is now dissipating. You've guided per diems to be up, I think, at that mid-single-digit range for each of the next two quarters. Any way we could sort of splice the Europe versus North America as we think about per diems? Are they pretty similar as we move forward, or is one stronger than the other?

Jun 25, 2024 / receipt, needs a key / James Hardiman, other | earnings call 2024-06-25 | transcript 1f7cff78-0087-4161-8fc5-53dec1b977bb | chars 32034-32537 | segment 32

I wouldn't peg it in any one particular quarter, given that there's always noise in the thing that you're comparing, but I'd say that we expect both North America and EU to show up on pricing over time in the normal course. I think it's particularly gratifying, frankly, that the EU brands not only were able to actually catch up on the occupancy, but to do so at significantly higher per diems means it's working. And so, and I'd say the same thing for North America. I mean, yes, their per diems are a little bit, you know, lower, but at the end of the day, they've recovered quicker, and they're still maintaining mid-signal digit pricing. So I think that bodes very well for the future.

Jun 25, 2024 / receipt, needs a key / Josh, CFO | earnings call 2024-06-25 | transcript 1f7cff78-0087-4161-8fc5-53dec1b977bb | chars 32552-33242 | segment 33

Yeah, you know, we're coming off a great performance when it comes to onboard, and we expect our onboard per diems to be increasing in 2024 versus 2023. You know, brands are doing a real good job of pulling forward more spend, providing differentiated experiences, so we absolutely expect an increase in 24 versus 23.

Dec 21, 2023 / receipt, needs a key / Josh, CEO | earnings call 2023-12-21 | transcript 6e4226a5-d691-4957-b9fa-b90c4aae1867 | chars 27671-27988 | segment 28

Well, actually, you know, David said it in the prepared remarks. I thought he said it pretty well. So, David, you want to repeat what you said? Yeah. So, you know, keep in mind that 2019 was the high-water mark for occupancy. And we look back to, like, 2005, and the historical occupancy levels were in the range of 104 to 107 percent. So what we're saying is we will be solidly back to historical occupancy levels But we weren't saying we're going to be back to the high watermark of 2019. So keep that in mind. The other thing about the considerably higher versus the nicely higher, keep in mind that, you know, last March when we gave guidance, you know, we had thought that our expectation for per diem increases was about 3.5%. And we wound up up 7.5%. So we saw some very strong pricing. in the back half of the year. And as a result of that, on a year-over-year comparison basis, a book position may be considerably higher. But what we're looking to see is at least nicely higher pricing on a per diem basis built into our guidance. So when you put those two factors together, hopefully you can understand how we built our guidance.

Dec 21, 2023 / receipt, needs a key / David, CFO | earnings call 2023-12-21 | transcript 6e4226a5-d691-4957-b9fa-b90c4aae1867 | chars 41409-42548 | segment 42

Continued cost discipline driven by operational efficiencies and further strengthening industry-leading cost structure

ir_statement / Aug 25, 2026 / receipt

Yield expansion driven by continued focus on high-quality commercial execution, same-ship demand and increased onboard spend

ir_statement / Aug 25, 2026 / receipt

…to drive significant margin expansion

ir_statement / Aug 25, 2026 / receipt

…which helps to absorb headwind of over $500M from higher fuel prices

ir_statement / Aug 25, 2026 / receipt

Adj. Cruise Costs excl. Fuel per ALBD vs. 2025

ir_statement / Aug 25, 2026 / receipt

Operational Improvement of ~$150M to the Bottom Line…

ir_statement / Aug 25, 2026 / receipt

Adj. Cruise Costs excl. Fuel per ALBD vs. 2025

ir_statement / Aug 25, 2026 / receipt

sharpened cost discipline

ir_statement / Aug 25, 2026 / receipt

Hyperfocused on permanent cost savings opportunities as we seek to drive more to the bottom line

ir_statement / Aug 25, 2026 / receipt

Reduction in fuel consumption saved us over $200M vs. 2019 and over $80M vs. 2023 in 2Q alone

ir_statement / Aug 25, 2026 / receipt

intensified focus on cost management

ir_statement / Aug 25, 2026 / receipt

over 30 basis points for certain elevated logistics costs as a result of disruption from the Middle East conflict

ir_statement / Aug 25, 2026 / receipt