Carnival Q4 2024 Earnings Report
Key Takeaways
Carnival Corporation & plc announced record fourth quarter revenues of $5.9 billion, 10 percent higher than prior year, delivering record adjusted EBITDA. Full year revenues hit an all-time high of $25 billion, over 15 percent higher than the prior year, with continued strength in demand.
Record fourth quarter revenues of $5.9 billion, exceeded 2023 levels by 10 percent.
Net income was $303 million, or $0.23 diluted EPS, versus a net loss of $48 million in 2023.
Total customer deposits reached a fourth quarter record of $6.8 billion.
Adjusted EBITDA of $1.2 billion was 29 percent higher than 2023.
Carnival
Carnival
Forward Guidance
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 net income of approximately $2.3 billion, over 20 percent higher than 2024.
Positive Outlook
- 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.