Carnival said passenger ticket revenues increased by $191 million (3.6%) to $5.4 billion for the 3 months ended August 31, 2025, while ALBDs decreased by 2.5% for the same period.

1. 01

   Carnival said passenger ticket revenues increased by $191 million (3.6%) to $5.4 billion for the 3 months ended August 31, 2025, while ALBDs decreased by 2.5% for the same period.

2. 02

   The company said consolidated operating income increased by $735 million to $3.7 billion for the 9 months ended August 31, 2025. It explained that the increase in operating expenses was partially offset by gains of $103 million on the sales of 1 North America segment ships and 1 Europe segment ships.

3. 03

   Carnival said net interest expense, net of capitalized interest, decreased by $317 million (23%) to $1.0 billion for the 9 months. Debt extinguishment and modification costs increased by $288 million to $366 million.

4. 04

   The company said liquidity as of August 31, 2025 was $6.3 billion, including $1.8 billion of cash and cash equivalents. Net cash flows from operating activities for the 9 months decreased by $0.3 billion to $4.7 billion.

Key figures

Quarter ended August 31, 2025

Revenue

$8.2B

Operating income

$2.3B

Net income

$1.9B

EPS

$1.33

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

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