Strong Financial Performance and Record Revenues: Carnival Corporation reported a fourth quarter net income improvement of over $250 million year-over-year, resulting in full-year revenues hitting an all-time high of $25 billion with nearly $6 billion in cash from operations, demonstrating robust demand and operational efficiency.
Favorable Yield Growth Expectations: The company anticipates a yield growth of over 4% for 2025, which is significantly above historical growth rates. This projection is supported by strong booking trends, higher ticket prices, and increased onboard spending, positioning the company to surpass previous yield guidance significantly.
Significant Debt Reduction and Improved Leverage Metrics: Throughout 2024, Carnival paid down over $5 billion of debt, reducing total debt to $27.5 billion, which is more than $8 billion off peak levels. The company achieved a leverage ratio of 4.3 times net debt to EBITDA, moving closer to investment-grade metrics, with expectations to reach them by 2026.