Q1 2025 Carnival Corp and Carnival PLC Earnings Call Transcript
Key Points
- Carnival PLC (CUK) achieved a robust 7.3% yield increase, surpassing their yield guidance.
- Operating income nearly doubled for the quarter, with EBITDA reaching $1.2 billion, marking a 40% year-over-year increase.
- The company raised its full-year earnings guidance by $185 million due to strong first-quarter results.
- Carnival PLC (CUK) is on track to meet its 2026 financial targets a year early, with ROIC expected to hit 12%.
- The company has successfully refinanced $5.5 billion of debt, reducing interest expenses and improving leverage metrics.
- Despite strong performance, Carnival PLC (CUK) acknowledges heightened macroeconomic and geopolitical volatility.
- There are increased dry-dock costs due to unplanned dry docks, impacting cruise costs.
- The company faces challenges in maintaining yield improvements amidst global economic uncertainties.
- Carnival PLC (CUK) has limited capacity growth, which could constrain future revenue expansion.
- The sale of Seabourn Sojourn, while financially beneficial, reduces the fleet size of the Seabourn brand.
Greetings, and welcome to the Carnival Corporation & plc's conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It's now my pleasure to introduce your host, Beth Roberts, Senior Vice President, Investor Relations. Thank you, Beth. You may begin.
Thank you. Good morning, and welcome to our first-quarter 2025 earnings conference call. I'm joined today by our CEO, Josh Weinstein; our Chief Financial Officer, David Bernstein; and our Chair, Micky Arison.
Before we begin, please note that some of our remarks on this call will be forward-looking. Therefore, I will refer you to the forward-looking statement in today's press release. All references to ticket prices, yields, and cruise costs without fuel will be in constant currency unless otherwise stated. References to yields will be on a net basis. References to cruise costs without fuel, EBITDA, net income, and ROIC will be on an adjusted basis, unless otherwise stated.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
