Inferra AI / Company / CCL
Carnival Corporation
CCL · Consumer Discretionary
Last earnings Sep 29, 2026
Key results
WITH net incomequarter
$1.9 BILLION
WITH NET INCOME OF $1.9 BILLION (
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Net incomequarter
$1.9 billion
Achieved all-time high net income 1 of $1.9 billion and adjusted net income 1,2 of $2.0 billion.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Adjusted net incomequarter
$2.0 billion
Achieved all-time high net income 1 of $1.9 billion and adjusted net income 1,2 of $2.0 billion.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Record net incomequarter
$1.9 billion
Third Quarter 2025 Results Record net income 1 of $1.9 billion, or $1.33 diluted EPS, an improvement of $116 million compared to 2024, surpassing the previous record set in 2019.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
EPSquarter
$1.33
Third Quarter 2025 Results Record net income 1 of $1.9 billion, or $1.33 diluted EPS, an improvement of $116 million compared to 2024, surpassing the previous record set in 2019.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Record revenuequarter
$8.2 billion
Record revenues 1 of $8.2 billion, up over $250 million compared to the prior year on lower capacity.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Gross marginquarter
6.4 percent
Gross margin yields were 6.4 percent higher than 2024.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Adjusted net income up over 60 percent compared to the fourth quarter 2024.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
$2,925 Adjusted earnings per share - diluted (b) Approx.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
AI analysis
Q3 2025 · reported Sep 29, 2025
Based on: Earnings release + parent 8-K — transcript not held
Headline figures
| Metric | Q3 2025 | Prior qtr | Year ago |
|---|---|---|---|
| WITH net income | $1.9 BILLION | — | — |
| Net income | $1.9 billion | — | — |
| Adjusted net income | $2.0 billion | — | — |
| Record net income | $1.9 billion | — | — |
| EPS | $1.33 | — | — |
| Record revenue | $8.2 billion | — | — |
| Gross margin | 6.4 percent | — | — |
Guidance · company-stated
Direction: Raised
“htm EX-99.1 Document Exhibit 99.1 CARNIVAL CORPORATION PLC ACHIEVES ALL-TIME HIGH FINANCIAL RESULTS WITH NET INCOME OF $1.9 BILLION (ADJUSTED NET INCOME OF $2 BILLION) Exceeds guidance and raises full year 2025 outlook for the third time this year MIAMI (September 29, 2025) - Carnival Corporation plc (NYSE LSE CCL NYSE CUK) announced financial results for the third quarter 2025 and provided an updated outlook for the full year and an outlook for the fourth quarter 2025.”
“Raised full year 2025 adjusted net income guidance for the third quarter in a row due to improved net yields 2 and effective cost balance sheet management now expected to be up nearly 55 percent year over year.”
“Adjusted cruise costs excluding fuel per ALBD 2 (in constant currency) increased 5.5 percent compared to 2024, 1.5 points better than June guidance.”
Classified from the release's primary full-year outlook statement.
Margin
Capital allocation
Refinanced $4.5 billion of debt during the quarter, simplifying its capital structure and prepaid an additional $0.7 billion of debt.
Financing With our current refinancing strategy nearly complete, we ve continued taking decisive actions to strengthen our balance sheet by simplifying our capital structure, reducing interest expense and managing our future debt maturities, commented Carnival Corporation plc s Chief Financial Officer David Bernstein.
Event summary
CARNIVAL CORPORATION PLC ACHIEVES ALL-TIME HIGH FINANCIAL RESULTS WITH NET INCOME OF $1.9 BILLION (ADJUSTED NET INCOME OF $2 BILLION) Exceeds guidance and raises full year 2025 outlook for the third time this year
Based on: Earnings release + parent 8-K — transcript not held
Guidance & outlook
Direction: Raised
Company outlook: “htm EX-99.1 Document Exhibit 99.1 CARNIVAL CORPORATION PLC ACHIEVES ALL-TIME HIGH FINANCIAL RESULTS WITH NET INCOME OF $1.9 BILLION (ADJUSTED NET INCOME OF $2 BILLION) Exceeds guidance and raises full year 2025 outlook for the third time this year MIAMI (September 29, 2025) - Carnival Corporation plc (NYSE LSE CCL NYSE CUK) announced financial results for the third quarter 2025 and provided an updated outlook for the full year and an outlook for the fourth quarter 2025.”
Company outlook: “Raised full year 2025 adjusted net income guidance for the third quarter in a row due to improved net yields 2 and effective cost balance sheet management now expected to be up nearly 55 percent year over year.”
Company outlook: “Adjusted cruise costs excluding fuel per ALBD 2 (in constant currency) increased 5.5 percent compared to 2024, 1.5 points better than June guidance.”
Company outlook — Raised (“raises”)
“htm EX-99.1 Document Exhibit 99.1 CARNIVAL CORPORATION PLC ACHIEVES ALL-TIME HIGH FINANCIAL RESULTS WITH NET INCOME OF $1.9 BILLION (ADJUSTED NET INCOME OF $2 BILLION) Exceeds guidance and raises full year 2025 outlook for the third time this year MIAMI (September 29, 2025) - Carnival Corporation plc (NYSE LSE CCL NYSE CUK) announced financial results for the third quarter 2025 and provided an updated outlook for the full year and an outlook for the fourth quarter 2025.”
Company outlook — Raised (“Raised”)
“Raised full year 2025 adjusted net income guidance for the third quarter in a row due to improved net yields 2 and effective cost balance sheet management now expected to be up nearly 55 percent year over year.”
Company outlook — Raised (“increased”)
“Adjusted cruise costs excluding fuel per ALBD 2 (in constant currency) increased 5.5 percent compared to 2024, 1.5 points better than June guidance.”
Company outlook — Reiterated (“maintained”)
“During the quarter, Moody s upgraded the company s credit rating and maintained a positive outlook.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Refinanced $4.5 billion of debt during the quarter, simplifying its capital structure and prepaid an additional $0.7 billion of debt.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Financing With our current refinancing strategy nearly complete, we ve continued taking decisive actions to strengthen our balance sheet by simplifying our capital structure, reducing interest expense and managing our future debt maturities, commented Carnival Corporation plc s Chief Financial Officer David Bernstein.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
This year alone, we ve opportunistically refinanced over $11 billion of debt and prepaid another $1 billion.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Our focus is now on driving our net debt to adjusted EBITDA ratio to under 3x as we continue boosting our financial strength.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
During the quarter, the company continued its refinancing strategy to reduce interest expense and manage its maturity towers, while reducing secured debt by nearly $2.5 billion.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
The combined proceeds from these financings, together with cash on hand, were used to repay over $5 billion of debt.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Strategy & priorities
Financing With our current refinancing strategy nearly complete, we ve continued taking decisive actions to strengthen our balance sheet by simplifying our capital structure, reducing interest expense and managing our future debt maturities, commented Carnival Corporation plc s Chief Financial Officer David Bernstein.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
During the quarter, the company continued its refinancing strategy to reduce interest expense and manage its maturity towers, while reducing secured debt by nearly $2.5 billion.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
These transactions reflect the company s continued focus on strengthening its capital structure and enhancing its financial flexibility.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Released its 15th annual sustainability report, Doing Business Responsibly from Ship to Shore, detailing the company s continued progress towards its sustainability goals and strategic refinements to its sustainability roadmap (learn more here).
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
MEDIA CONTACT INVESTOR RELATIONS CONTACT Jody Venturoni Beth Roberts +1 469 797 6380 +1 305 406 4832 Cautionary Note Concerning Factors That May Affect Future Results Some of the statements, estimates or projections contained in this document are forward-looking statements that involve risks, uncertainties and assumptions with respect to us, including statements concerning future results, operations, strategy, outlooks, plans, goals, reputation, cash flows, liquidity and other events which have not yet occurred.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Risks & headwinds
MEDIA CONTACT INVESTOR RELATIONS CONTACT Jody Venturoni Beth Roberts +1 469 797 6380 +1 305 406 4832 Cautionary Note Concerning Factors That May Affect Future Results Some of the statements, estimates or projections contained in this document are forward-looking statements that involve risks, uncertainties and assumptions with respect to us, including statements concerning future results, operations, strategy, outlooks, plans, goals, reputation, cash flows, liquidity and other events which have not yet occurred.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
This note contains important cautionary statements of the known factors that we consider could materially affect the accuracy of our forward-looking statements and adversely affect our business, results of operations and financial position.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
These factors include, but are not limited to, the following Events and conditions around the world, including geopolitical uncertainty, war and other military actions, pandemics, inflation, higher fuel prices, higher interest rates and other general concerns impacting the ability or desire of people to travel could lead to a decline in demand for cruises as well as have significant negative impacts on our financial condition and operations.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Changes in and non-compliance with laws and regulations under which we operate, such as those relating to health, environment, safety and security, data privacy and protection, anti-money laundering, anti-corruption, economic sanctions, trade protection, labor and employment, and tax may be costly and lead to litigation, enforcement actions, fines, penalties and reputational damage.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Inability to meet or achieve our targets, goals, aspirations, initiatives, and our public statements and disclosures regarding them, including those related to sustainability matters, may expose us to risks that may adversely impact our business.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Cybersecurity incidents and data privacy breaches, as well as disruptions and other damages to our principal offices, information technology operations and system networks and failure to keep pace with developments in technology have adversely impacted and may in the future materially adversely impact our business operations, the satisfaction of our guests and crew and may lead to fines, penalties and reputational damage.
SEC original ↗Carnival Corporation — Earnings release (8-K exhibit)EX-99Sep 29, 2025
Competitors
Competitors & peers
Named in the company’s own filings
Filings
60 documents- Q2 2026
- 10-QCCL
Sep 29, 2026
- 8-KCCL
Sep 29, 2026
- 8-KCCL
Aug 5, 2026
- Q1 2026
- 10-QCCL
Jun 26, 2026
- 8-KCCL
Jun 23, 2026
- 8-KCCL
May 7, 2026
- 8-KCCL
Apr 20, 2026
- Q4 2025
- 10-QCCL
Mar 27, 2026
- 8-KCCL
Mar 27, 2026
- 8-KCCL
Feb 20, 2026
- 8-KCCL
Feb 12, 2026
- 10-KCCL
Jan 27, 2026
- Q3 2025
- 8-KCCL
Dec 19, 2025
- 8-KCCL
Oct 15, 2025
- Q2 2025
- 8-KCCL
Sep 30, 2025
- 8-KCCL
Sep 30, 2025
- 10-QCCL
Sep 29, 2025
- 8-KCCL
Sep 29, 2025
- 8-KCCL
Aug 19, 2025
- 8-KCCL
Aug 8, 2025
- 8-KCCL
Jul 16, 2025
- 8-KCCL
Jul 7, 2025
- 8-KCCL
Jul 7, 2025
- 8-KCCL
Jul 7, 2025
- 8-KCCL
Jul 1, 2025
- Q1 2025
- 8-KCCL
Jun 30, 2025
- 10-QCCL
Jun 26, 2025
- 8-KCCL
Jun 24, 2025
- 8-KCCL
Jun 13, 2025
- 8-KCCL
May 21, 2025
- 8-KCCL
May 12, 2025
- 8-KCCL
May 12, 2025
- 8-KCCL
Apr 21, 2025
- 8-KCCL
Apr 18, 2025
- Q4 2024
- 10-QCCL
Mar 25, 2025
- 8-KCCL
Mar 21, 2025
- 8-KCCL
Feb 28, 2025
- 8-KCCL
Feb 19, 2025
- 8-KCCL
Feb 18, 2025
- 8-KCCL
Feb 7, 2025
- 8-KCCL
Jan 28, 2025
- 8-KCCL
Jan 28, 2025
- 10-KCCL
Jan 27, 2025
- 8-KCCL
Jan 13, 2025
- 8-KCCL
Jan 10, 2025
- Q3 2024
- 8-KCCL
Dec 20, 2024
- Q2 2024
- 8-KCCL
Sep 30, 2024
- 10-QCCL
Sep 30, 2024
- Q1 2024
- 10-QCCL
Jun 27, 2024
- 8-KCCL
Jun 25, 2024
- 8-KCCL
Apr 25, 2024
- 8-KCCL
Apr 19, 2024
- 8-KCCL
Apr 15, 2024
- 8-KCCL
Apr 10, 2024
- Q4 2023
- 8-KCCL
Mar 27, 2024
- 10-QCCL
Mar 27, 2024
- 8-KCCL
Jan 30, 2024
- 10-KCCL
Jan 26, 2024
- 8-KCCL
Jan 22, 2024
- Q3 2023
- 8-KCCL
Dec 21, 2023
Earnings releases
20 documentsPresentations
0 documentsNo presentations for Carnival Corporation are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Carnival Corporation are held in this edition of the library.
Mentioned by
4 companiesOther tracked companies whose held documents mention Carnival Corporation by name or ticker. A mention is counted once per document, from the document text the library holds.
“ to work, reinvesting in our business while returning more capital to shareholders,” said Carnival Corporation’s… …repurchases so far this year — nearly $800 million since the beginning of the third quarter — and our ongoing dividend program, we are ”
“ed. Forward-looking statements reflect management’s… … 99.1 EXHIBIT 99.1 Carnival Corporation & plc Announces New $4.5 Billion Revolving Credit Facility to Upsize and Extend the Company’s Revolver Capacity MIAMI, June 13, 2025 /PR”
“perating profit. YTD profit also decreased primarily due to higher impairments and higher CCL charges, partly offset by higher other net operating income and Core operating profit.… …Q3 decline driven by lower sales in International, primarily China,”
“ expanded our CORSAIR Custom Lab capabilities and expect to offer DRAM Memory through our CCL program as well. OUR GAMER AND CREATOR PERIPHERALS SEGMENT CONTINUES TO… … GAMER AND CREATOR PERIPHERALS SEGMENT CONTINUES TO IMPROVE WITH 20% FULL YE”
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