Carnival Corp. reports strong Q1 2025 earnings growth

Carnival Corporation reported strong earnings for the first quarter of 2025, exceeding expectations with a net income improvement of over $170 million. Revenue and customer deposits also reached record highs, driven by robust demand across their cruise offerings. The company achieved a 7.3% increase in yields compared to last year, continuing a positive trend in ticket and onboard spending. The company’s EBITDA reached $1.2 billion, showing nearly a 40% year-over-year growth. Carnival raised its earnings guidance for 2025 by $185 million and expects further growth, with an estimated yield increase of 4.7% for the full year. The company attributes this success to strong consumer demand and efficient cost management. Carnival is focusing on marketing campaigns to boost brand awareness and has seen a surge in bookings for 2026. The company successfully completed several refinancing transactions, reducing debt and interest expenses significantly. Executives emphasized resilient consumer behavior, stating that close-in demand for cruises and onboard spending remained strong despite macroeconomic challenges. Carnival is also investing in new initiatives, including developing Celebration Key in the Caribbean, set to open later this year. The company is enhancing its offerings in Alaska and consolidating its fleet, selling one of its ships while strengthening its premium brands. Overall, Carnival remains optimistic about future growth driven by its diverse portfolio and strong brand presence in the cruise industry. The leadership expressed confidence in meeting long-term financial targets while continuing to provide high-value experiences for customers.