For 2025, Carnival Projects 4.2% Increase In Net Yields, 3.7% Rise In Adjusted Cruise Costs Per ALBD, $2.3B In Adjusted Net Income, $6.6B In Adjusted EBITDA, And An Adjusted ROIC Of 11.7%

Benzinga2024-12-20

2025 Outlook 

For the full year 2025, the company expects:

  • Net yields (in constant currency) approximately 4.2 percent higher than record 2024 levels based on continued strength in demand.
  • Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.7 percent compared to 2024, in part due to higher dry-dock days, higher advertising expense and operating costs for the company's new exclusive destination, Celebration Key.
  • Adjusted net income of approximately $2.3 billion, over 20 percent higher than 2024.
  • Adjusted EBITDA of approximately $6.6 billion, up approximately $500 million compared to 2024. Adjusted EBITDA per ALBD to reach its 2026 SEA Change target one year in advance.
  • Adjusted ROIC of approximately 11.7 percent.
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