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Carnival logoCarnival CCL

The company said net income for Q2 2025 (3 months ended May 31) was $565 million (diluted EPS of $0.42), and adjusted net income was $470 million (adjusted EPS of $0.35). Operating income for the same quarter was $934 million.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said net income for Q2 2025 (3 months ended May 31) was $565 million (diluted EPS of $0.42), and adjusted net income was $470 million (adjusted EPS of $0.35). Operating income for the same quarter was $934 million.

  2. Carnival Corporation & plc said revenues for Q2 rose to $6.3 billion from $5,781 million a year earlier. By category, passenger ticket revenues were $4,104 million and onboard and other revenues were $2,224 million. The company said its constant currency net yields were 6.4% higher than 2024 levels.

  3. The company said it expects adjusted EBITDA for 2025 of approximately $6.9 billion, up more than 10% from 2024, and adjusted net income of approximately $2,690 million. It also said it expects constant currency net yields for the full year to rise approximately 5.0%.

  4. Carnival said total debt was $27.3 billion at the end of Q2, and its net debt to adjusted EBITDA ratio was 3.7x as of May 31, compared with 4.1x as of February 28, 2025. It also entered into a new $4.5 billion multi-currency revolving credit facility in June, which matures in June 2030.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Carnival Net Income Reaches $565 million in Q2, Adjusted Net Income $470 million

The company said net income for Q2 2025 (3 months ended May 31) was $565 million (diluted EPS of $0.42), and adjusted net income was $470 million (adjusted EPS of $0.35). Operating income for the same quarter was $934 million.

Source · Based on the filing body and exhibits

Q2 Revenue of $6.3 billion and Net Yields

Carnival Corporation & plc said revenues for Q2 rose to $6.3 billion from $5,781 million a year earlier. By category, passenger ticket revenues were $4,104 million and onboard and other revenues were $2,224 million. The company said its constant currency net yields were 6.4% higher than 2024 levels.

Source · Based on the filing body and exhibits

Carnival Sees Full-Year 2025 Adjusted EBITDA of About $6.9 billion

The company said it expects adjusted EBITDA for 2025 of approximately $6.9 billion, up more than 10% from 2024, and adjusted net income of approximately $2,690 million. It also said it expects constant currency net yields for the full year to rise approximately 5.0%.

Source · Based on the filing body and exhibits

Debt at $27.3 billion, Net Debt to Adjusted EBITDA 3.7x, New Revolver

Carnival said total debt was $27.3 billion at the end of Q2, and its net debt to adjusted EBITDA ratio was 3.7x as of May 31, compared with 4.1x as of February 28, 2025. It also entered into a new $4.5 billion multi-currency revolving credit facility in June, which matures in June 2030.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.