Carnival Corporation reports record revenues in ‘truly phenomenal’ 2025

Carnival Corporation has reported record revenues and profit for 2025, with its performance in 2026 set to be even better.

 

The cruise giant said its adjusted net income for 2025 rose by more than 60% to a record $3.1 billion, while revenues reached another record, at $26.6 billion.

 

The company posted record adjusted earnings before interest and taxes (Ebitda) of $7.2 billion, up by more than $1 billion compared to 2024.

 

The adjusted net income for 2026 is expected to be $3.5 billion, surpassing record 2025 levels.

 

More: Carnival outlines plan to exit London Stock Exchange

 

Josh Weinstein, chief executive of said Carnival Corporation & plc, said: “2025 was a truly phenomenal year.

 

“We set new records across our business, achieved investment grade leverage metrics and…reinstated our dividend.

 

“These milestones reflect the collective strength of our cruise line portfolio and confidence in our long-term future.

 

“Our global team’s relentless focus on delivering amazing guest experiences while executing with discipline enabled us to outperform guidance for the fourth time this year.

 

“The momentum is carrying into 2026, which is shaping up to surpass even these remarkable results with another year of double-digit earnings growth.”

 

The full-year results statement came along with Q4 figures, which showed net income of $422 million, up nearly 40% compared to 2024, and record revenues of $6.3 billion, up nearly $400 million compared to Q4 in 2024.

 

Weinstein added: “Looking forward, we are well positioned to top 2025’s record yields.

 

“We remain at our highest booked occupancy for the upcoming year at about two-thirds booked at higher prices.

 

“Over the last three months, we achieved record booking volumes for 2026 and 2027 sailings.

 

“In addition, strong booking volumes continued from Black Friday through Cyber Monday, even outpacing prior year’s robust levels, which is a favourable indicator for wave season.”

 

For the full year in 2026, the company expects adjusted net income to rise about 12% compared to record 2025, on less than 1% capacity growth.

 

During a conference call about the results, Weinstein added: “Thanks also goes out to our travel agent partners, who have contributed immensely to this success.” 

 

The group also reported that the board has approved the reinstatement of its quarterly dividend and declared an initial $0.15 per share dividend with a record date of February 13, 2026, and a payment date of February 27, 2026.

 

Chief financial officer David Bernstein said: “This decision highlights confidence in our future performance and continued commitment to delivering value to shareholders.”