Carnival Corp.'s fourth-quarter earnings surpassed analyst expectations, making for "an incredibly strong finish to a record year," the cruise company's CEO said.
The company reported record fourth-quarter revenues of $5.9 billion, a 10% increase from last year.
Net income for the quarter was $303 million, compared to a net loss of $48 billion in 2023.
"Revenues hit an all-time high driven by a strong demand environment that we elevated throughout the year, enabling us to outperform our initial 2024 guidance by $700 million and deliver nearly $2 billion more to the bottom line, year over year," CEO Josh Weinstein said.
"The progress was broad-based as we drove strong pricing in 2024 as compared to 2023 across our major cruise lines and trades," he said.
The company said bookings for 2025 during the fourth quarter were higher than the prior year, despite the traditional slump during the presidential election.
It said bookings taken for 2026 are shattering records.
"Our brands effectively capitalized on their ongoing strength in demand, achieving higher prices (in constant currency) than last year and reinforcing our record-breaking booked position," Weinstein said.
"In fact, with nearly two-thirds of 2025 already booked, we are expecting another year of strong yield improvement, outpacing historical growth rates and on top of two back-to-back years of mid-to-high single digit per diem growth," he continued.
It offered an upbeat forecast for 2025, saying it expects adjusted net income to reach $2.3 billion, a 20% jump from 2024.
