Carnival Corporation reported a record net income of €1.77bn and adjusted net income of €1.86bn for Q3 2025, surpassing 2019 records.
Revenues reached €7.63bn, up €232m from 2024, with net yields up 4.6pc due to strong demand and onboard spending. The company refinanced €4.18bn in debt and prepaid €651m, reducing secured debt by €2.32bn to strengthen its balance sheet.
Nearly half of 2026 bookings are secured at higher prices, with 2027 bookings setting a record for a 13-week period. Celebration Key, a new Caribbean destination, is driving bookings, with Carnival expecting 8m guest visits to its Caribbean ports in 2026.
Quotes:
Josh Weinstein shared: “This was a phenomenal quarter delivering all-time high net income and our tenth consecutive quarter of record revenues. With nearly half of 2026 booked, which is in line with 2025 record levels but now at historical high prices for both our North America and Europe segments, we have built a strong base of business for next year. This year alone, we’ve opportunistically refinanced over €11bn of debt and prepaid another €1bn.”
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