Carnival Corporation reports “strong finish to a record year”

“This has been an incredibly strong finish to a record year,” said CEO Josh Weinstein as the world’s largest cruise company, Miami-based Carnival Corporation & plc, today reported financial results for the fourth quarter and full year 2024 and provided an outlook for the first quarter and full year 2025.

• Carnival full year revenues hit an all-time high of $25 billion, over 15 percent higher than the prior year, with continued strength in demand.
• Full year net income of $1.9 billion; adjusted net income1 of $1.9 billion outperforms September guidance by over $130 million.
• Record full year adjusted EBITDA1 of $6.1 billion, over 40 percent higher than the prior year.
• Record full year operating income of $3.6 billion, over 80 percent higher than the prior year.
• Adjusted return on invested capital1 (“ROIC”) of 11 percent.
• Record fourth quarter revenues of $5.9 billion, 10 percent higher than prior year, delivering record adjusted EBITDA.
• Cumulative advanced booked position for full year 2025 is at an all-time high for both price (in constant currency) and occupancy.
• Adjusted EBITDA per available lower berth (“ALBD”) for 2025 expected to be the highest in almost two decades,

“Revenues hit an all-time high driven by a strong demand environment that we elevated throughout the year, enabling us to outperform our initial 2024 guidance by $700 million and deliver nearly $2 billion more to the bottom line, year over year,” said Weinstein. “The progress was broad based as we drove strong pricing in 2024 as compared to 2023 across our major cruise lines and trades.”

Carnival sees the momentum continuing.

“2025 is shaping up to be another banner year, with yield growth expected to far outpace historical growth rates and again exceed unit cost growth, thanks to the efforts of our amazing team members,” Weinstein noted. “They have delivered a step-change improvement in 2024 which sets us up for a fantastic 2025 and beyond, while delivering unforgettable happiness to over 13.5 million guests last year.”

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.

All the numbers HERE

The post Carnival Corporation reports “strong finish to a record year” appeared first on Marine Log.