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Carnival Corporation & plc Achieves Record Full Year Adjusted Net Income and Investment Grade Leverage Metrics, Reinstates Dividend

Carnival Corporation & plc (CCL) | December 19, 2025

By Alice Johnson

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Carnival Corporation & plc announced financial results for the fourth quarter and full year 2025, showcasing a successful year with record revenues and net income.

Key highlights include full year net income of $2.8 billion, record adjusted net income of $3.1 billion, and all-time high operating income of $4.5 billion.

The company is optimistic about 2026, expecting adjusted net income to reach $3.5 billion and proposing governance framework changes for streamlining.

Record Financial Performance

Achieved a 60% increase in adjusted net income, surpassing guidance and setting new records across multiple financial metrics.

Investment Grade Recognition

Recognized by Fitch as investment grade, demonstrating strong financial health and leverage metrics.

Outlook for 2026

Anticipates continued growth with adjusted net income expected to surpass 2025 levels, showcasing confidence in future performance.

  • The strong financial results reflect Carnival Corporation & plc's ability to navigate challenges and capitalize on demand, resulting in robust revenue and profitability.
  • The company's focus on cost management and revenue optimization has led to impressive margins and operating income, setting a positive trajectory for future growth.

Carnival Corporation & plc's exceptional performance in 2025 and positive outlook for 2026 underscore its position as a leader in the cruise industry, driving value for both guests and shareholders.