Carnival Corp. (CCL) Tops Q4 EPS by 7c, Offers Outlook

Carnival Corp. (NYSE: CCL) reported Q4 EPS of $0.14, $0.07 better than the analyst estimate of $0.07. Revenue for the quarter came in at $5.94 billion versus the consensus estimate of $5.91 billion.

2025 Outlook

For the full year 2025, the company expects:

• Net yields (in constant currency) approximately 4.2 percent higher than record 2024 levels based on continued strength in demand.
• Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.7 percent compared to 2024, in part due to higher dry-dock days, higher advertising expense and operating costs for the company's new exclusive destination, Celebration Key.
• Adjusted net income of approximately $2.3 billion, over 20 percent higher than 2024.
• Adjusted EBITDA of approximately $6.6 billion, up approximately $500 million compared to 2024. Adjusted EBITDA per ALBD to reach its 2026 SEA Change target one year in advance.
• Adjusted ROIC of approximately 11.7 percent.

See "Guidance" and "Reconciliation of Forecasted Data" for additional information on the company's 2025 outlook.

For earnings history and earnings-related data on Carnival Corp. (CCL) click here.

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