Carnival Corporation & plc reported record full year 2024 results, with revenues hitting an all-time high of $25B, up 15% YoY. Net income reached $1.9B, while adjusted EBITDA rose 40% to $6.1B. The company outperformed Q4 guidance, with adjusted net income of $186M exceeding expectations by $126M.For 2025, Carnival expects continued strong performance with net yields projected to increase 4.2% YoY in constant currency. The company forecasts adjusted net income of $2.3B, up over 20% from 2024, and adjusted EBITDA of $6.6B. Notably, Carnival anticipates reaching its 2026 SEA Change EBITDA per ALBD target one year early.Booking trends remain robust, with the cumulative advanced booked position for full year 2025 at an all-time high for both price and occupancy. Carnival also made significant progress on debt reduction, prepaying $3.3B in 2024 and reducing total debt by over $8B from its peak in January 2023.

Carnival Corporation & plc reported record full year 2024 results, with revenues hitting an all-time high of $25B, up 15% YoY. Net income reached $1.9B, while adjusted EBITDA rose 40% to $6.1B. The company outperformed Q4 guidance, with adjusted net income of $186M exceeding expectations by $126M.For 2025, Carnival expects continued strong performance with net yields projected to increase 4.2% YoY in constant currency. The company forecasts adjusted net income of $2.3B, up over 20% from 2024, and adjusted EBITDA of $6.6B. Notably, Carnival anticipates reaching its 2026 SEA Change EBITDA per ALBD target one year early.Booking trends remain robust, with the cumulative advanced booked position for full year 2025 at an all-time high for both price and occupancy. Carnival also made significant progress on debt reduction, prepaying $3.3B in 2024 and reducing total debt by over $8B from its peak in January 2023.