Core Insights - Carnival Corporation (NYSE: CCL) has shown strong performance in 2023, outperforming the S&P 500 despite past pandemic challenges and an uncertain economy [1][5] - The company is experiencing high demand, with occupancy levels reported at 104%, and plans to build two additional ships by 2028 to meet this demand [4][9] Financial Performance - In the first half of fiscal 2025, Carnival reported revenue of over $12 billion, an 8% increase compared to the same period in fiscal 2024 [7] - The company managed to limit cost and expense growth to 3%, resulting in a net income of $486 million, a significant improvement from a loss of $123 million in the previous year [8] - Carnival has reduced its total debt by paying down over $2 billion, aligning closely with the amount of debt maturing during the same period [8][9] Debt Situation - Carnival ended the previous quarter with over $27 billion in total debt, which remains a significant burden compared to its book value of $10 billion [6] - Despite the high debt levels, the company is on track to improve its financial health as it continues to reduce debt while maintaining strong booking levels [6][9]