Carnival (CCL) 10-K Summary — Year Ended Nov 30, 2023
The company is a global cruise operator. For its most recent fiscal year, revenue increased substantially, operating income was positive, but net income remained negative.
Key takeaway
Year ended Nov 30, 2023 · FY2025 10-K
The company is a global cruise operator. For its most recent fiscal year, revenue increased substantially, operating income was positive, but net income remained negative.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$21.6B
Revenue reported for the fiscal year.
Operating income
$2B
Income from operations reported for the year.
Net income
-$74M
Net income reported for the year.
Operating cash flow
$4.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2021 | $1.9B | n/a |
| Nov 30, 2022 | $12.2B | +537.7% |
| Nov 30, 2023 | $21.6B | +77.5% |
Business overview
Carnival operates a portfolio of cruise brands across the global cruise industry. Its business includes passenger cruise programs, onboard services, and port destinations. The company serves customers from various geographic regions.
Financial performance
Revenue grew substantially compared to the prior year, and operating income turned positive. However, net income was still negative, reflecting ongoing costs. Operating cash flow was positive, indicating cash generation from operations.
Material risks
The filing contains a risk factors section, but the specific risks are not detailed in the provided context. The company faces typical industry risks such as economic conditions and competition.
Liquidity and capital
The company generated positive operating cash flow, supporting its liquidity position. No additional capital allocation details are provided in the supplied context.
What to watch
Investors should monitor whether the company achieves net profitability in the next filing.