Carnival reports record $1.9 billion Q3 net income and raises 2025 outlook
Carnival reported third quarter 2025 net income of $1.9 billion and revenue of $8.2 billion, both up from the prior-year quarter, and raised its full-year 2025 adjusted net income guidance to growth of nearly 55 percent. The company also called for redemption of all its 5.75% convertible senior notes due 2027 on December 5, 2025, which it says is part of its strategy to deleverage and reduce interest expense.
Key points
- Q3 2025 net income was $1,852 million, up from $1,735 million a year earlier; diluted EPS was $1.33 versus $1.26.
- Q3 adjusted net income was $1,982 million, or $1.43 adjusted EPS, versus $1.27 a year earlier.
- Full-year 2025 adjusted net income is expected to be up nearly 55 percent from 2024 and $235 million better than June guidance.
- If all convertible notes are converted, the company will pay $500 million in cash, with the rest settled in shares.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 29, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.