Carnival Corporation Reports Record 2024 Earnings

Carnival Corporation & plc ( (CUK) ) has released its Q4 earnings. Here is a breakdown of the information Carnival Corporation & plc presented to its investors.

Carnival Corporation & plc, the largest global cruise company, operates a portfolio of world-class cruise lines including Carnival Cruise Line, Princess Cruises, and Holland America Line, offering leisure travel experiences worldwide.

The company reported impressive financial results for 2024, surpassing its own guidance and setting records in several key areas. Carnival’s full-year revenues reached an all-time high of $25 billion, a more than 15% increase from the previous year, driven by strong demand across its cruise lines.

Key highlights from 2024 include a net income of $1.9 billion, adjusted EBITDA of $6.1 billion, and operating income of $3.6 billion, all of which show significant growth over the previous year. The company’s booking volumes for 2025 are at an all-time high, both in terms of price and occupancy, indicating continued strong demand. Carnival also made substantial progress in reducing its debt, paying off $8 billion since January 2023, and achieved a net debt to adjusted EBITDA ratio of 4.3x.

Looking ahead, Carnival expects continued growth in 2025, with adjusted net income projected to increase by over 20% to approximately $2.3 billion and adjusted EBITDA to rise to $6.6 billion. The company remains focused on its sustainability goals, having reduced greenhouse gas emissions and food waste significantly in 2024.

Carnival Corporation & plc is poised for another strong year in 2025, with management optimistic about further yield growth and operational improvements. The company is actively working on strategies to enhance guest experiences and increase global awareness of cruise travel, setting the stage for continued success in the cruise industry.