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MIAMI - Carnival Corporation (LON:CCL) & plc (NYSE/LSE:CCL; NYSE:CUK) reported record second quarter 2025 operating results on Tuesday, with net income of $565 million, nearly $475 million higher than the same period in 2024.
The cruise operator achieved record second quarter revenues of $6.3 billion, with net yields in constant currency up 6.4% compared to 2024. Adjusted net income more than tripled to $470 million, outperforming March guidance by $185 million.
Carnival (NYSE:CCL) announced it has exceeded its 2026 financial targets 18 months ahead of schedule, with adjusted return on invested capital reaching over 12.5% and adjusted EBITDA per available lower berth day at the highest levels in nearly two decades.
"Our amazing team delivered yet another phenomenal quarter," said Josh Weinstein, Carnival’s Chief Executive Officer. "We also remain on track for a strong 4 percent net yield growth in the second half."
The company reported all-time high customer deposits of $8.5 billion. Its cumulative advanced booking position for 2026 is in line with 2025 record levels and at historically high prices.
For full-year 2025, Carnival expects net yields in constant currency to be approximately 5.0% higher than 2024 levels, with adjusted net income projected to increase over 40% compared to 2024.
The company recently extended and upsized its revolving credit facility to $4.5 billion, a 50% increase, and achieved a 3.7x net debt to adjusted EBITDA ratio as of May 31, 2025, improved from 4.1x at the end of February.
This information is based on a press release statement from Carnival Corporation.
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