Revenues totaled $6.30 billion in the fourth quarter, versus $5.94 billion in the same period a year ago. The top-line missed analysts’ projections.
Adjusted earnings per share were $0.34 in Q4, compared to $0.14 per share in Q4 2024. Earnings beat estimates. Net income rose to $422 billion or $0.31 per share in the November quarter from $303 billion, or $0.23 per share, last year.
The management expects full-year 2026 adjusted net income to be $3.5 billion, surpassing the 2025 levels. Cumulative advanced booked position for 2026 remains in line with 2025 record levels.
“2025 was a truly phenomenal year. We set new records across our business, achieved investment-grade leverage metrics, and, as announced just today, reinstated our dividend. These milestones reflect the collective strength of our cruise line portfolio and confidence in our long-term future,” said Carnival’s chief executive officer Josh Weinstein.