Business
Carnival Corporation 3Q 2025 Earnings
Carnival Corporation & plc reported record net income of $1.9 billion, or adjusted net income of $2.0 billion, achieving record revenues of $8.2 billion for the tenth consecutive quarter. Net yields, in constant currency, were all-time high, increasing 4.6% compared to the prior year, outperforming June guidance. The company refinanced $4.5 billion of debt and prepaid an additional $0.7 billion during the quarter. Looking ahead, Carnival raised its full year 2025 adjusted net income guidance for the third consecutive quarter and expects net yields to increase approximately 5.3% compared to 2024. Adjusted EBITDA is projected to be approximately $7.05 billion, up 15% compared to 2024, and adjusted net income is expected to increase nearly 55% compared to 2024. Disclaimer*
About this update from Carnival Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n \n \n \n \n CARNIVAL CORPORATION & PLC ACHIEVES ALL-TIME HIGH FINANCIAL RESULTS WITH NET INCOME OF $1.9 BILLION (ADJUSTED NET INCOME OF $2 BILLION) \n \n \n \n \n \n \n \n \n Exceeds guidance and raises full year 2025 outlook for the third time this year\n \n \n \n \n MIAMI, Sept. 29, 2025 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the third quarter 2025 and provided an updated outlook for the full year and an outlook for the fourth quarter 2025.\n \n \n \n \n Achieved all-time high net income\n \n \n 1\n \n \n of $1.9 billion and adjusted net income\n \n \n 1,2\n \n \n of $2.0 billion.\n \n \n \n \n Raised full year 2025 adjusted net income guidance for the third quarter in a row due to improved net yields\n \n \n 2\n \n \n and effective cost & balance sheet management; now expected to be up nearly 55 percent year over year.\n \n \n \n \n Delivered record revenues\n \n \n 1\n \n \n of $8.2 billion, a record for the tenth consecutive quarter, and all-time high net yields\n \n \n 1\n \n \n (in constant currency) outperforming June guidance due to strong close-in demand.\n \n \n \n \n Cumulative advanced booked position for 2026 remains strong, in line with 2025 record levels and at historical high prices (in constant currency).\n \n \n \n \n Refinanced $4.5 billion of debt during the quarter, simplifying its capital structure and prepaid an additional $0.7 billion of debt.\n \n \n \n \n \"This was a phenomenal quarter delivering all-time high net income and our tenth consecutive quarter of record revenues. Strong demand and onboard spending drove a 4.6% improvement in net yields (in constant currency), all of which was achieved on a same ship basis,\" commented Carnival Corporation & plc's Chief Executive Officer Josh Weinstein.\n \n \n \"Adjusted return on invested capital\n 2,3\n \n reached 13% for the first time in nearly 20 years, a clear testament to the continued improvement in our operational execution—driven not only by consistently strong performance from Carnival Cruise Line and AIDA, but also great advancement across the rest of our portfolio of world class brands,\" Weinstein added.\n \n \n \"We also welcomed our game changing new exclusive destination, Celebration Key, to rave guest reviews and overwhelming me...