Carnival Corporation projects earnings growth of 20% by 2025 by Investing.com
MIAMI – Carnival Company (LON:) & plc (NYSE/LSE: CCL; NYSE: CUK), the world’s largest cruise operator, reported strong financial results for the fourth quarter and full year 2024. The company announced records for revenue, net income, and adjusted EBITDA for the full year, surpassing its September guidance and last year’s performance.
For the full year of 2024, revenue reached $25 billion, a 15 percent increase over the previous year. Total revenue for the year was $1.9 billion, with adjusted revenue of the same amount, which was $130 million above the September forecast. Adjusted EBITDA of $6.1 billion represented a significant 40 percent increase over the prior year, while operating income rose to $3.6 billion, an 80 percent jump from the prior year.
In the fourth quarter, Carnival (NYSE: ) earned $303 million in revenue, with adjusted earnings of $186 million, beating September guidance by $126 million. This performance was due to higher ticket prices, increased spending, and improved cost management. Adjusted EBITDA for the quarter reached a record $1.2 billion, 29 percent higher than in 2023.
The company’s improved cumulative position for the full year 2025 is high in terms of both rates and occupancy. Adjusted EBITDA per available area in 2025 is expected to be the highest in almost two decades, the company expects to achieve its 2026 SEA Change EBITDA goal a year ahead of schedule.
Carnival Corporation’s CEO, Josh Weinstein, highlighted a strong finish through 2024 and the company’s ability to exceed the initial guidance. He also mentioned the ongoing efforts to develop a local strategy and increase global awareness about sailing.
By 2025, Carnival expects gross revenue to increase by 4.2 percent over 2024 based on the strength of continued demand. Adjusted revenue is expected to be 20 percent higher by 2024, reaching approximately $2.3 billion. The company also expects adjusted EBITDA to increase by approximately $500 million compared to 2024, and an adjusted return on investment of approximately 11.7 percent.
Carnival Corporation’s financial activities include prepaying $3.3 billion in debt in 2024, reducing its debt balance by more than $8 billion from its peak in January 2023. The company ended the year with $27.5 billion in debt and scheduled debt maturities of $1.5 billion in 2025 and $2.7 billion in 2026.
This news is based on a press release from Carnival Corporation & plc.
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