For 2025, Carnival Projects 4.2% Increase In Net Yields, 3.7% Rise In Adjusted Cruise Costs Per ALBD, $2.3B In Adjusted Net Income, $6.6B In Adjusted EBITDA, And An Adjusted ROIC Of 11.7%

+0.71%

Carnival Corporation

CCL

25.43

+0.71%

2025 Outlook

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.

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