Core Insights - The Star Princess, the second Sphere-Class ship from Princess Cruises, is set to debut on October 4, 2025, after successful sea trials [1][2] - The ship is designed to reduce emissions and is powered by liquefied natural gas (LNG), marking a significant advancement in environmental sustainability for the cruise industry [2][5] - Star Princess will feature 30 dining and bar venues, advanced entertainment options, and luxurious accommodations, catering to 4,300 guests [5][6] Company Overview - Princess Cruises is recognized as a leading cruise brand, known for delivering exceptional vacation experiences across various global destinations [8] - The company is part of Carnival Corporation & plc, which is publicly traded on NYSE and LSE [8] Technical Features - The vessel is equipped with two Azipod propulsion units for enhanced maneuverability and efficiency, along with four controllable pitch bow thrusters [3] - Star Princess has a gross tonnage of 177,800 tons and includes over 1,500 balcony staterooms for panoramic views [5][6] Inaugural Season - The inaugural season will include voyages to the Mediterranean, Caribbean, Panama Canal, and Alaska, with bookings currently available [7]

Core Insights - Princess Cruises is launching a new entertainment lineup aboard its Sphere-class ship, Star Princess, set to sail on October 4, 2025, featuring original theatrical productions, immersive concerts, and global performances [1][12] Entertainment Offerings - The ship will host two original theatrical productions: "Meridian," a cinematic spectacle exploring themes of love and fate, and "Illuminate," a circus-themed show that reveals wonder in the unexpected [3][4] - "Viva La Música," a high-energy celebration featuring Latin music, returns with choreography by Liz Imperio, known for her work with major artists [6] - The entertainment extends beyond traditional theater, including vibrant deck soirées, themed events, and a reimagined champagne waterfall experience [7] Unique Venues - The Dome will feature the Princess Cruises Candlelight Concert Series, offering a unique blend of classical music and storytelling in a candlelit setting [8] - The Piazza will serve as a lively hub for performances, including "Princess Jamz," showcasing the talents of the Princess World Orchestra [10] Special Events - The Celestial Champagne Soirée will debut in the Piazza, combining multimedia elements with the iconic Champagne Waterfall, enhancing the onboard experience [11] Ship Specifications - Star Princess is designed to accommodate 4,300 guests and has a gross tonnage of 175,500 tons, built by Fincantieri [12]

Financial Performance & Outlook - The company achieved record full-year operating results in 2024[2, 11] - The company expects 20% earnings growth in 2025[2, 16] - The company anticipates hitting the 2026 SEA Change EBITDA target one year early[2, 16, 45] - Q4 2024 adjusted EBITDA reached $1.22 billion, exceeding the guidance of approximately $1.14 billion[12] - Full year 2024 adjusted EBITDA reached $6.1 billion, outperforming the December guidance of approximately $5.6 billion by $500 million[13] - Full year 2024 adjusted net income reached $1.9 billion, exceeding the December guidance of approximately $1.2 billion by $700 million[13] Demand & Bookings - Net yields in FY 2024 increased by 11% compared to 2023, outperforming the December guidance of approximately 8.5%[13] - Adjusted cruise costs excluding fuel per ALBD in FY 2024 decreased by 3.5% compared to 2023, outperforming the December guidance of approximately 4.5%[13] - Customer deposits reached a record of $6.8 billion in 4Q 2024[40] Debt Management - The company achieved approximately 2.5 turn net debt to adjusted EBITDA improvement in 2024[44] - Debt prepayments exceeded $3 billion[44]