Carnival Cruises Beats Q3 2019 Profit Record, Raises 2025 Goals

Carnival Corporation & plc has set new financial milestones in Q3 2025, reporting a net income of $1.9 billion, or $1.33 per diluted share, surpassing their 2019 record and outpacing 2024 by $116 million.

The adjusted net income climbed to $2.0 billion, or $1.43 per share, beating projections by $182 million.

This achievement represents Carnival’s tenth consecutive quarter with record revenues, reaching $8.2 billion, driven by higher net yields, strong late bookings, and increased onboard spending.

Passenger ticket revenue increased 3.7 percent year-over-year to $5.43 billion, while onboard and ancillary revenue grew 2.5 percent to $2.72 billion.

Operating income rose 4.3 percent to $2.27 billion, and adjusted EBITDA set a new record near $3 billion, reflecting efficient cost management and operational strength across brands, including Carnival Cruise Line and AIDA.

The company also reported successful balance sheet management, refinancing $4.5 billion in debt and prepaying an additional $700 million.

Looking forward, Carnival has raised its full-year 2025 adjusted net income forecast for the third time, now expecting nearly 55 percent growth compared to 2024.

For a deeper dive, check out our article on the cruise industry, covering market distribution and leading cruise line brands.

Photo by 安 崔士 on Unsplash