Port Canaveral Authority commissioners were told on Oct. 22 that the port closed fiscal year 2025 with record unaudited operating revenue of $218,400,000 and operating income of $82,600,000, a 37% operating margin.

The numbers were presented to the commission by Jeff Beislein, who opened by noting, “Now keep in mind these are unaudited financial results.” Beislein said the port recorded 8,600,000 cruise revenue passenger movements for the 12 months ended Sept. 30 — about 2% ahead of the budgeted 8,400,000 and up from roughly 6,800,000 two years earlier.

Beislein said cruise parking produced about $4,000,000 of the $7.5 million favorable variance to budget and that cargo revenue also hit an all‑time record of about $24,500,000, roughly $600,000 above budget. “For the fiscal year, our operating revenue had a favorable variance of 7 and a half million dollars,” he said.

Why it matters: the surplus strengthens the port’s cash position for debt service and capital investment. Beislein said the operating income provides funds “for debt reduction, for debt payments that we have to make in the future and also for future port investments.” Commissioners asked about outstanding debt and were told the port still has about $300,000,000 in loans, bonds and notes payable.

Month and year detail: for September the port reported roughly $15,000,000 in operating revenue, about $400,000 ahead of budget; monthly operating expenses were $12,100,000 and operating income for the month was about $2,900,000. For the 12‑month period, Beislein reiterated the headline figures and noted operating expenses for the year came in slightly under budget at $135,800,000.

Officials flagged one near‑term cash impact: tariffs on imported equipment. A commissioner asked about a 10% tariff on recently received equipment; Beislein confirmed the port paid approximately $1,000,000 in tariffs on two pieces of imported capital equipment (a mobile harbor crane and a passenger boarding bridge). He said the tariff is being capitalized in the cost of those fixed assets and will be depreciated over the assets’ service lives.

Commission action: after the financial presentation, a motion was made and seconded to approve the statistical report, agent report, list of bills, disposals, legal bills and commissioner minor expenses for September 2025 and to consider and approve the September 2025 financial memo. The motion passed by voice vote.

Context and next steps: Beislein reminded the commission that the numbers he presented are unaudited and RSM, the external auditor, has begun field work; audited results will be presented after the audit completes. Commissioners also discussed updating an economic impact study (the last one cited was $6.1 billion in 2018) and requested a new study to reflect the port’s increased activity.