Carnival Reports Record Q2 Results
Carnival Corp. (NYSE:CCL) reported fiscal 2025 second-quarter results on June 24, 2025, delivering its eighth consecutive quarter of record revenue. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 26% year over year, and net income of $565 million exceeded management's March guidance by $185 million. The company surpassed all three of its 2026 strategic targets (measured on a non-GAAP basis) 18 months early, upgraded full-year guidance, and shared key updates on its loyalty and destination expansion strategies.In the trailing 12 months, EBITDA per available lower berth day (ALBD) was 52% above a baseline rate set in 2023, and return on invested capital (ROIC) surpassed 12.5%, both the highest marks in nearly two decades. Carnival reported that unit net yields (a measure of revenue per occupied berth after discounts) expanded by over 6.4% versus the prior year on an adjusted basis, building on last year's comparable 12% gain.These achievements signal Carnival’s enhanced earnings power and capital efficiency, providing a structurally improved foundation for shareholder returns and competitive positioning well beyond pre-pandemic levels.Continue reading
Carnival Corp. (NYSE:CCL) reported fiscal 2025 second-quarter results on June 24, 2025, delivering its eighth consecutive quarter of record revenue. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 26% year over year, and net income of $565 million exceeded management's March guidance by $185 million. The company surpassed all three of its 2026 strategic targets (measured on a non-GAAP basis) 18 months early, upgraded full-year guidance, and shared key updates on its loyalty and destination expansion strategies.
In the trailing 12 months, EBITDA per available lower berth day (ALBD) was 52% above a baseline rate set in 2023, and return on invested capital (ROIC) surpassed 12.5%, both the highest marks in nearly two decades. Carnival reported that unit net yields (a measure of revenue per occupied berth after discounts) expanded by over 6.4% versus the prior year on an adjusted basis, building on last year's comparable 12% gain.
These achievements signal Carnival’s enhanced earnings power and capital efficiency, providing a structurally improved foundation for shareholder returns and competitive positioning well beyond pre-pandemic levels.
