HighGravityDataCarnival — Dec 20, 2024 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000815097-24-000078
Showing in the filing
Adjusted cruise costs excluding fuel per ALBD (in constant currency)
“up approximately 3.7 percent compared to 2024”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 36
100 basis point change in variable rate debt… for FY2025
“$48”
Net yields (in constant currency) for FY2025
“approximately 4.2 percent higher than record 2024 levels”
Adjusted cruise costs excluding fuel per ALB… for FY2025
“up approximately 3.7 percent compared to 2024”
Adjusted net income for FY2025
“approximately $2.3 billion”
Adjusted EBITDA for FY2025
“approximately $6.6 billion, up approximately $500 million compared to 2024”
Adjusted EBITDA per ALBD for FY2025
“to reach its 2026 SEA Change target one year in advance”
Adjusted ROIC for FY2025
“approximately 11.7 percent”
Interest expense for FY2025
“over $200 million lower than 2024 and over $500 million lower compared to 2023”
GHG emission intensity goal for FY2026
“more than a 20 percent reduction by the end of 2026 compared to 2019”
Food waste reduction goal for FY2030
“reduce food waste by 50 percent”
Net yields (Current Dollars) for FY2025
“Approx. 3.5%”
Net yields (Constant Currency) for FY2025
“Approx. 4.6%”
Adjusted cruise costs excluding fuel per ALB… for FY2025
“Approx. 2.4%”
Adjusted cruise costs excluding fuel per ALB… for FY2025
“Approx. 3.4%”
ALBDs (in millions) for FY2025
“23.6”
Capacity growth compared to prior year for FY2025
“(0.0)%”
Fuel consumption in metric tons (in millions) for FY2025
“0.7”
Fuel cost per metric ton consumed (excluding… for FY2025
“$616”
Fuel expense (including EUA expense) (in bil… for FY2025
“$0.45”
Depreciation and amortization (in billions) for FY2025
“$0.66”
Interest expense, net of capitalized interes… for FY2025
“$0.38”
Adjusted EBITDA (in billions) for FY2025
“Approx. $1.04”
Adjusted net income (in millions) for FY2025
“Approx. $2,305”
Adjusted earnings per share - diluted for FY2025
“Approx. $0.00”
Weighted-average shares outstanding - basic for FY2025
“1,309”
Adjusted weighted-average shares outstanding… for FY2025
“1,316”
AUD (USD to 1) for FY2025
“$0.64”
CAD (USD to 1) for FY2025
“$0.70”
EUR (USD to 1) for FY2025
“$1.05”
GBP (USD to 1) for FY2025
“$1.26”
1% change in net yields (impact to adjusted … for FY2025
“$190”
1% change in adjusted cruise costs excluding… for FY2025
“$109”
10% change in fuel cost per metric ton (excl… for FY2025
“$178”
1% change in currency exchange rates (impact… for FY2025
“$25”
Newbuild capital expenditures for FY2025
“$1.1 billion”
Non-newbuild capital expenditures for FY2025
“$2.5 billion”
Exhibit 99.1 · the passage around this item
… earlier in the release
2025 Outlook For the full year 2025, the company expects: • Net yields (in constant currency) approximately 4.2 percent higher than record 2024 levels based on continued strength in demand. • Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.7 percent compared to 2024, in part due to higher dry-dock days, higher advertising expense and operating costs for the company’s new exclusive destination, Celebration Key. • Adjusted net income of approximately $2.3 billion, over 20 percent higher than 2024. • Adjusted EBITDA of approximately $6.6 billion, up approximately $500 million compared to 2024. Adjusted EBITDA per ALBD to reach its 2026 SEA Change target one year in advance. • Adjusted ROIC of approximately 11.7 percent. See “Guidance” and “Reconciliation of Forecasted Data” for additional information on the company’s 2025 outlook. Financing and Capital Activity “With the benefit of well managed near term maturity towers and improved leverage metrics, we expect to opportunistically capitalize on improved interest rates while proactively managing our maturity towers for 2027 and beyond. In 2025, interest expense is currently expected to be over $200 million lower than 2024 and over $500 million lower compared to 2023,” commented Carnival Corporation & plc’s Chief Financial Officer David Bernstein. “We are laser focused on continuing our efforts to further reduce interest expense and rebuilding an investment grade balance sheet. Just this year, we
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.