Key Takeaways CCL saw operating income per lower berth day reach its strongest level in nearly two decades.CCL leveraged fixed ship costs as higher occupancy, pricing and onboard spending aided margins.CCL cited sourcing efficiencies and disciplined cost controls that helped protect margins.Carnival Corporation & plc (CCL) closed fiscal 2025 with clear signs of improved revenue flow-through, an important development amid evolving demand and capacity dynamics across the cruise industry. Management highlighte ...