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Carnival Corporation (CCL) has submitted its Form 10-K filing for the fiscal year ended November 30, 2024.
The filing reports total revenues of $25.0 billion, a 15.9% increase from the previous year, driven by higher ticket prices and increased onboard spending.
Operating income for the year was $3.6 billion, up from $2.0 billion in 2023, reflecting improved occupancy rates and cost management.
Net income was reported at $1.9 billion, compared to a net loss of $74 million in the prior year, marking a significant turnaround in financial performance.
Carnival's debt was reduced by over $8 billion from its peak in January 2023, with $27.5 billion of debt remaining at the end of the fiscal year.
The company completed the delivery of three new ships during the year, contributing to a 4.7% increase in available lower berth days.
Carnival Corporation also reported progress on sustainability goals, reducing greenhouse gas emission intensity by 17.5% compared to 2019.
The filing includes discussions on risk factors, including geopolitical uncertainties and regulatory changes related to climate action.
Carnival Corporation continues to focus on strengthening its balance sheet and delivering long-term shareholder value through operational improvements and debt reduction.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Carnival Corporation annual 10-K report dated January 27, 2025. To report an error, please email earnings@qz.com.