Carnival Corporation & plc

Carnival Corporation & plc Q4 2025 Earnings Recap

CCL Q4 2025 December 19, 2025

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Carnival Corporation delivered record fourth-quarter revenue, yields, and EBITDA in 2025, with a remarkable 60% increase in net income year-over-year, marking a significant achievement in financial performance.

Earnings Per Share Beat
$0.34 vs $0.25 est.
+37.0% surprise
Revenue Miss
6330000000 vs 6369309000 est.
-0.6% surprise

Market Reaction

1-Day +3.47%
5-Day -1.29%
30-Day -8.26%

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Key Takeaways

  • Achieved all-time high net income of over $3 billion, exceeding initial guidance by 30%.
  • Full-year yield improvement exceeded 5.5%, driven by effective commercial execution.
  • Operating margins and EBITDA margins rose by over 250 basis points year-over-year, with historical highs for operating income per ALBD.
  • The company plans to reinstate dividends at $0.15 per quarter, reflecting strong cash generation and balance sheet improvements.
  • Strong demand forecasts for 2026, with bookings at record levels and expectations for continued yield growth despite increased market capacity.
This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit CCL on AllInvestView.

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