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LONDON - Carnival (NYSE:CCL) plc announced Thursday it has filed its joint Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission for the second quarter ended May 31, 2025.
The cruise operator reported net income of $565 million for the three months ended May 31, 2025, compared to $92 million in the same period last year. For the six-month period, the company posted net income of $486 million, a significant improvement from a net loss of $123 million in the first half of 2024.
Revenue increased 9.5% to $6.33 billion for the quarter, up from $5.78 billion in the prior year period. Passenger ticket revenue, which comprised 65% of total revenue, rose 9.3% to $4.1 billion, driven by higher ticket prices, increased capacity, and favorable foreign currency impacts.
Operating income for the quarter reached $934 million, up from $560 million a year earlier. The company’s North America segment saw operating income increase to $691 million from $525 million, while the Europe segment’s operating income rose to $368 million from $168 million.
Carnival reported $5.2 billion in liquidity as of May 31, including $2.1 billion in cash and cash equivalents. In June 2025, the company established a new $4.5 billion unsecured multi-currency revolving credit facility maturing in 2030, replacing its previous facility.
The company’s occupancy rate stood at 104% for the quarter, unchanged from the same period last year. Available Lower Berth Days increased 3.1% compared to the second quarter of 2024.
According to the filing, which is based on a press release statement, Carnival plc continues to pursue opportunities to repay portions of existing debt and refinance future maturities to extend dates and reduce interest expenses.
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