Carnival Heads Into 2025 With Record Bookings at Higher Prices

Carnival Corp. CEO Josh Weinstein just wrapped up a banner year of record-breaking financial performance.

"We delivered another stellar quarter to close out a phenomenal year," said CEO Josh Weinstein during an earnings call on Friday.

Now Weinstein's plotting an ambitious course for 2025 that includes the debut of a half-billion-dollar private island destination and sustained premium pricing — all while navigating headwinds from Mexican tax proposals to Red Sea itinerary disruptions.

The world's largest cruise operator said Friday it had notched records for revenue and net income this year. Revenue for the 12 months through November 30 reached $25 billion, up 15% year-over-year, while net income hit $1.9 billion.

Weinstein expects another banner year in 2025, thanks what are so far "record booking trends and record customer deposits," with earnings growth of about 20%.

The tailwinds are clear. Demand is surging, with record-high bookings for 2025 at higher prices and a record pace for bookings two years out despite higher prices.

Perhaps Carnival's most impressive story in 2025 is how it managed to boost its yield—a key industry metric measuring revenue per berth—by almost 10% on a same-ship basis in 2024.

That's remarkable for a company that historically