James Hardiman

Robin Farley

Steven Wieczynski

Frederick Wightman

Jaime Katz

Benjamin Chaiken

Brandt Montour

David Katz

Ali Naqvi

Assia Georgieva

Charles Scholes

Christopher Stathoulopoulos

Daniel Politzer

Matthew Boss

Patrick Scholes

Paul Golding

Stephen Grambling

Vince Ciepiel

- Carnival Corporation & plc closed a private offering of **$1.25 billion** aggregate principal amount of **5.125% senior unsecured notes due 2029** on **October 15, 2025**.  **[1125259_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[815097_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[1125259_0000950142-25-002811_eh250691830_8k.htm:1]** **[815097_0000950142-25-002811_eh250691830_8k.htm:1]** 
- The company will use the proceeds from this offering, combined with cash on hand, to redeem all **$2.0 billion** of its outstanding **6.000% senior unsecured notes due 2029**.  **[1125259_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[815097_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[1125259_0000950142-25-002811_eh250691830_8k.htm:1]** **[815097_0000950142-25-002811_eh250691830_8k.htm:1]** 
- The redemption of the 6.000% notes is set for **November 1, 2025**, at a price of **101.500%** of the principal amount, plus accrued interest, as part of a strategy to **reduce interest expense**.  **[1125259_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[815097_0000950142-25-002811_eh250691830_ex9901.htm:0]** **[1125259_0000950142-25-002811_eh250691830_8k.htm:3]** **[815097_0000950142-25-002811_eh250691830_8k.htm:3]**

Carnival Corporation & plc Closes $1.25 Billion Notes Offering and Announces Redemption of Existing Notes

- Carnival Corporation & plc reported **record net income of $1.9 billion** and **adjusted net income of $2.0 billion** for Q3 2025, alongside **record revenues of $8.2 billion**.  **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** 
- The company raised its full year 2025 adjusted net income guidance for the third time, now projected to increase by nearly **55 percent year over year**, with adjusted EBITDA expected to reach approximately **$7.05 billion**.  **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:3]** 
- Strong demand drove **net yields (in constant currency) 4.6 percent higher than 2024** in Q3 2025, and the advanced booked position for 2026 remains robust at historical high prices.  **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:1]** 
- In Q3 2025, Carnival refinanced **$4.5 billion of debt** and prepaid an additional **$0.7 billion**, contributing to a net debt to adjusted EBITDA ratio improvement to **3.6x** as of August 31, 2025.  **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:0]** **[1125259_0000815097-25-000082_a20253qearningsrelease8-k.htm:2]** **[815097_0000815097-25-000082_a20253qearningsrelease8-k.htm:2]**

Carnival Corporation & plc Reports Record Q3 2025 Financial Results and Raises Full-Year Outlook

CARNIVAL (CUK)