Carnival Corporation Reports Strong Q4 Earnings

Investing.com — Carnival Corporation (LON:CCL) reported fourth-quarter earnings that exceeded analyst expectations, boosting its U.S.-listed shares by 4.3% in early trading on Wednesday.

The cruise operator posted adjusted earnings per share of $0.14 for the quarter, surpassing the consensus estimate of $0.07. Revenue reached $5.94 billion, slightly above analysts' projections of $5.91 billion, marking a 10% increase from the same period last year.

Carnival (NYSE:CCL) achieved net income of $303 million for Q4, a substantial turnaround from a net loss of $48 million in the prior year's quarter. The company also reported a record fourth-quarter adjusted EBITDA of $1.2 billion, which is 29% higher than in 2023.

Looking forward, Carnival provided an optimistic outlook for 2025. The company anticipates net yields in constant currency to be approximately 4.2% higher than 2024 levels, attributing this to sustained strong demand. Adjusted net income is expected to reach around $2.3 billion, over 20% higher than 2024.

> "This has been an incredibly strong finish to a record year," stated Carnival Corporation & plc's CEO Josh Weinstein. "Revenues hit an all-time high driven by a strong demand environment that we elevated throughout the year."

Carnival also noted that its cumulative advanced booked position for the full year 2025 is at an all-time high for both pricing and occupancy. The company aims to achieve its 2026 SEA Change EBITDA target a year early, in 2025.