Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has announced its financial results for the fourth quarter and full year 2024, showcasing record-breaking performance and a promising outlook for 2025. The company reported full-year revenues of $25 billion, marking a 15% increase from the previous year, driven by strong demand across its cruise lines. Net income for the year reached $1.9 billion, with adjusted net income outperforming September guidance by over $130 million. The company's adjusted EBITDA hit a record $6.1 billion, a 40% increase from the prior year, and operating income soared to $3.6 billion, up 80% year-over-year.

Carnival's CEO, Josh Weinstein, highlighted the company's success in achieving higher pricing and occupancy rates, which contributed to the record financial results. The company also reported a record fourth-quarter revenue of $5.9 billion, a 10% increase from 2023, and a net income of $303 million, reversing a net loss from the previous year. The strong financial performance was supported by higher ticket prices, increased onboard spending, and improved cost management.

Looking ahead to 2025, Carnival expects continued growth with net yields projected to be 4.2% higher than 2024 levels. The company anticipates adjusted net income of approximately $2.3 billion, a 20% increase from 2024, and adjusted EBITDA of $6.6 billion. Booking volumes for 2025 are already at an all-time high, with prices and occupancy rates surpassing those of 2024. The company is also focused on enhancing its destination strategy and increasing global awareness of cruise travel.

Carnival's financial health is further bolstered by a reduction in debt, with $3.3 billion in debt prepayments made in 2024, bringing total prepayments to $7.3 billion since 2023. The company ended the year with $27.5 billion in debt, down from its peak in January 2023. Carnival's CFO, David Bernstein, emphasized the company's commitment to reducing interest expenses and rebuilding an investment-grade balance sheet.

In addition to its financial achievements, Carnival continues to make strides in sustainability, reducing greenhouse gas emissions and increasing the number of LNG-powered ships in its fleet. The company also received numerous accolades in 2024, including recognition as one of the Top 250 Best-Managed Companies by the Wall Street Journal and as one of the World's Top Companies for Women by Forbes.

Overall, Carnival Corporation & plc's strong financial performance in 2024 and its positive outlook for 2025 position the company well to capitalize on the growing demand for cruise travel and deliver long-term value to its shareholders.