Carnival (CCL) Q4 FY25 earnings call

Carnival Corporation concluded FY25 with record financial results, driven by strong commercial execution and effective cost management, leading to an all-time high net income and ROIC. The company is well-positioned for continued growth in FY26, with strong booking volumes and high prices, enabling the resumption of its quarterly dividend and further deleveraging efforts. Despite macroeconomic headwinds and increased Caribbean capacity, demand for cruising remains resilient, supported by strategic destination developments and a diversified global portfolio.