Carnival Corp. posted a record third-quarter profit and raised its full-year outlook for the third time, as strong demand and higher onboard spending propelled revenues to an all-time high.
The cruise operator reported net income of $1.9 billion on record revenue of $8.2 billion for the quarter ended Aug. 31, according to a company statement.
This marked the tenth consecutive quarter of record revenues.
"This was a phenomenal quarter delivering all-time high net income and our tenth consecutive quarter of record revenues," Chief Executive Officer Josh Weinstein said.
The company now expects full-year 2025 adjusted net income to be up nearly 55% compared to the prior year.
Alongside the strong results, Carnival highlighted its efforts to strengthen its balance sheet as it pushes to regain an investment-grade credit rating, a goal its chief financial officer recently said was "one notch away."
During the quarter, the company said it refinanced $4.5 billion of debt and prepaid an additional $700 million.
Carnival also announced it would redeem all its outstanding 5.750% convertible senior notes due in 2027.
Bookings for 2026 remain strong and are in line with record 2025 levels but at historically high prices, the company said.
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