Carnival Corporation reported advanced booking levels for 2026 sailings reached new heights, with pricing at all-time highs in constant currency.
The company recorded an impressive first quarter 2025 with record revenues of £5.8bn, surpassing the previous year by more than £400m.
The company achieved record net yields, up 7.3pc compared to 2024, driven by strong demand and increased onboard revenue.
Significant debt refinancing occurred, with a total of £5.5bn refinanced, resulting in estimated annual interest savings of approximately £145m.
Adjusted net income for 2025 is expected to rise over 30pc compared to 2024, reflecting improved revenue and lower interest expense expectations.
Josh Weinstein.CEO of Carnival share “Having entered the year with less 2025 inventory available for sale, the company achieved higher prices (in constant currency) than last year on bookings taken during the first quarter for the remainder of 2025. “Our brands are continuing to deliver on our strategy to generate sustained demand, even for further out sailings. With the vast majority of 2025 booked, we continue to drive strong pricing for the remainder of the year in both North America and Europe, while also building demand for future years,” Weinstein commented. “In fact, booking volumes for 2026 sailings and beyond reached an all-time high and at higher prices (in constant currency),”
Our first quarter was truly characterized by outperformance. This was across the board and led by incredibly strong demand throughout our portfolio including exceptional close-in demand that exceeded expectations for both ticket prices and onboard spending,” commented Carnival Corporation & plc’s Chief Executive Officer
“While we are not completely immune from the heightened macroeconomic and geopolitical volatility since providing our December guidance, we are still taking up our earnings expectations for the year and we remain on track to have another stellar year across our cruise brands. This raise incorporates our increased first quarter yield results and reduced interest expense thanks to our recent successful refinancings. We are also affirming our December yield guidance for the remainder of 2025, as our booking curve continues to be the farthest out on record, at record prices (in constant currency), onboard spending is robust and we have proven to be incredibly resilient,” Weinstein continued.
“We are delivering amazing vacation experiences every day in a time when people all over the world are placing increasing importance on experiences, particularly those spent with family and friends. Our value for money is truly a strength when people look to make their vacation dollars go further,”
