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Carnival Corporation CCL Q2 2025 earnings

Reported June 24, 2025 · Before market open

Revenue$6.3BBeat by $121.9M
EPS$0.35Beat by $0.10
Revenue estimate$6.2B
EPS estimate$0.25

Next report

Oct 5, 2026 (in a month)
Revenue estimate$8.4B
EPS estimate$1.35

Financials

Q2 2025

Income statement

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Revenue$6.3B+9.5%
Gross profit$2.4B+23.1%
Operating income$934.0M+66.8%
Net income$565.0M+514%
EPS (diluted)$0.42+500%

Balance sheet

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Cash & equivalents$2.2B+30.1%
Total debt$30.8B-8.6%
Total equity$10.0B+46.9%
Total assets$51.2B+3.1%

Cash flow

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Operating cash flow$2.4B+17.3%
CapEx$851.0M-35.5%
Free cash flow$1.5B+114%

Valuation & ratios

Valuation

as of 05/31/25
See full
Market cap$31.97B+61.9%
Enterprise value$60.56B+17.0%
P/E12.7×-9.2×
P/S1.2×+0.4×

Profitability

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Gross margin39.2%+3.4pp
Operating margin16.2%+4.1pp
Net margin9.7%+5.9pp
FCF margin10.8%+4.0pp

Returns & leverage

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Return on equity30%+15.8pp
Debt / equity3.1×-1.9×
Current ratio0.3×+0.1×

Segments

By segment

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North America Segment$4.2B—
Europe Segment$2.0B+18.5%
Cruise Support$73.0M+15.9%
Tour And Other$31.0M-16.2%

By geography

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United States$3.5B—
Germany$825.0M—
United Kingdom$733.0M—

By product

See full
Passenger ticket$4.1B+9.3%
Onboard and other$2.2B+9.7%

FAQ

When did Carnival Corporation report Q2 2025 earnings?
Carnival Corporation (CCL) reported Q2 2025 earnings on June 24, 2025 before market open.
What were Carnival Corporation's Q2 2025 revenue and EPS?
Carnival Corporation reported revenue of $6.3B and eps of $0.35 for Q2 2025.
Did Carnival Corporation beat estimates in Q2 2025?
Revenue beat the consensus estimate of $6.2B by $121.9M. EPS beat the consensus estimate of $0.25 by $0.10.
How did Carnival Corporation's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.5% from $5.8B a year earlier and eps grew 218.2% from $0.11.