We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Is Carnival (CCL) Down 3.6% Since Last Earnings Report?
Read MoreHide Full Article
It has been about a month since the last earnings report for Carnival (CCL - Free Report) . Shares have lost about 3.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Carnival due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Carnival Corporation before we dive into how investors and analysts have reacted as of late.
Carnival reported impressive third-quarter fiscal 2025 (ended Aug. 31, 2025) results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year. This upside was primarily driven by sustained demand strength and robust onboard revenues.
Furthermore, Carnival raised its full-year fiscal 2025 adjusted net income guidance for the third consecutive quarter, supported by stronger net yields along with effective cost and balance sheet management.
Moving ahead, the company aims to continue focusing on its strategy to deliver same-ship, high-margin revenue growth amid a favorable booking, to position for robust revenue visibility and profitability in fiscal 2026 and beyond.
CCL’s Earnings & Revenues
In the quarter under review, the company reported adjusted earnings per share (EPS) of $1.43, beating the Zacks Consensus Estimate of $1.32 by 8.3%. In the year-ago quarter, CCL posted an adjusted EPS of $1.27.
Revenues in the quarter totaled $8.15 billion, beating the consensus mark of $8.07 billion by 1%. The metric also increased 3.3% year over year.
During the quarter, passenger ticket revenues amounted to $5.43 billion, up from $5.24 billion reported in the prior-year quarter. Our estimate for passenger ticket revenues was pegged at $5.25 billion.
Onboard and other revenues increased to $2.72 billion from $2.66 billion reported in the year-ago quarter. Our estimate for Onboard and other revenues was pegged at $2.72 billion.
Carnival’s Financials
Adjusted net income in the quarter amounted to $1.98 billion, up 13.2% year over year from $1.75 billion. The uptick was attributable to strong close-in demand and effective cost management.
Adjusted EBITDA totaled $3 billion, up from $2.82 billion reported in the prior-year quarter.
CCL’s Balance Sheet
As of Aug. 31, 2025, cash and cash equivalents were $1.76 billion compared with $1.21 billion as of Nov. 30, 2024. Carnival ended the quarter with liquidity of $6.26 billion. Total debt (current and long-term) as of Aug. 31, 2025, was $26.5 billion compared with $27.48 billion as of Nov. 30, 2024.
Bookings Update of Carnival
Carnival has continued to see strong momentum in bookings since May, with volumes higher than last year and well ahead of capacity growth. This performance highlights the effectiveness of the company’s demand generation efforts and the strength of its guest experiences, which are fueling excess demand and sustaining pricing power.
Looking ahead, nearly half of fiscal 2026 is already booked, matching the record levels of the same time last year, but now at historical high prices in constant currency across both North America and Europe. The outlook for fiscal 2027 is also encouraging, with the year already achieving record booking volumes during the third quarter, positioning Carnival well for long-term growth.
Total customer deposits as of Aug. 31, 2025, were $6.69 billion compared with $8.08 billion reported in the preceding quarter.
CCL Unveils Q4 View & Raises Fiscal 2025 Outlook
For fourth-quarter fiscal 2025, Carnival expects adjusted EBITDA to be approximately $1.34 billion. It expects adjusted net income to be about $300 million. The company expects adjusted EPS to be nearly 23 cents.
For fiscal 2025, the company now anticipates adjusted EBITDA to be approximately $7.05 billion (up from the previous expectation of about $6.9 billion), indicating more than 15% growth year over year. Adjusted net income is now anticipated to be about $2.925 billion, up from the previously expected value of $2.69 billion. CCL now expects adjusted EPS to be approximately $2.14, up from $1.97 expected earlier.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 14.41% due to these changes.
VGM Scores
At this time, Carnival has a average Growth Score of C, a grade with the same score on the momentum front. However, the stock has a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Carnival has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Is Carnival (CCL) Down 3.6% Since Last Earnings Report?
It has been about a month since the last earnings report for Carnival (CCL - Free Report) . Shares have lost about 3.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Carnival due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Carnival Corporation before we dive into how investors and analysts have reacted as of late.
Carnival Q3 Earnings Beat Estimates, FY25 View Raised
Carnival reported impressive third-quarter fiscal 2025 (ended Aug. 31, 2025) results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year. This upside was primarily driven by sustained demand strength and robust onboard revenues.
Furthermore, Carnival raised its full-year fiscal 2025 adjusted net income guidance for the third consecutive quarter, supported by stronger net yields along with effective cost and balance sheet management.
Moving ahead, the company aims to continue focusing on its strategy to deliver same-ship, high-margin revenue growth amid a favorable booking, to position for robust revenue visibility and profitability in fiscal 2026 and beyond.
CCL’s Earnings & Revenues
In the quarter under review, the company reported adjusted earnings per share (EPS) of $1.43, beating the Zacks Consensus Estimate of $1.32 by 8.3%. In the year-ago quarter, CCL posted an adjusted EPS of $1.27.
Revenues in the quarter totaled $8.15 billion, beating the consensus mark of $8.07 billion by 1%. The metric also increased 3.3% year over year.
During the quarter, passenger ticket revenues amounted to $5.43 billion, up from $5.24 billion reported in the prior-year quarter. Our estimate for passenger ticket revenues was pegged at $5.25 billion.
Onboard and other revenues increased to $2.72 billion from $2.66 billion reported in the year-ago quarter. Our estimate for Onboard and other revenues was pegged at $2.72 billion.
Carnival’s Financials
Adjusted net income in the quarter amounted to $1.98 billion, up 13.2% year over year from $1.75 billion. The uptick was attributable to strong close-in demand and effective cost management.
Adjusted EBITDA totaled $3 billion, up from $2.82 billion reported in the prior-year quarter.
CCL’s Balance Sheet
As of Aug. 31, 2025, cash and cash equivalents were $1.76 billion compared with $1.21 billion as of Nov. 30, 2024. Carnival ended the quarter with liquidity of $6.26 billion. Total debt (current and long-term) as of Aug. 31, 2025, was $26.5 billion compared with $27.48 billion as of Nov. 30, 2024.
Bookings Update of Carnival
Carnival has continued to see strong momentum in bookings since May, with volumes higher than last year and well ahead of capacity growth. This performance highlights the effectiveness of the company’s demand generation efforts and the strength of its guest experiences, which are fueling excess demand and sustaining pricing power.
Looking ahead, nearly half of fiscal 2026 is already booked, matching the record levels of the same time last year, but now at historical high prices in constant currency across both North America and Europe. The outlook for fiscal 2027 is also encouraging, with the year already achieving record booking volumes during the third quarter, positioning Carnival well for long-term growth.
Total customer deposits as of Aug. 31, 2025, were $6.69 billion compared with $8.08 billion reported in the preceding quarter.
CCL Unveils Q4 View & Raises Fiscal 2025 Outlook
For fourth-quarter fiscal 2025, Carnival expects adjusted EBITDA to be approximately $1.34 billion. It expects adjusted net income to be about $300 million. The company expects adjusted EPS to be nearly 23 cents.
For fiscal 2025, the company now anticipates adjusted EBITDA to be approximately $7.05 billion (up from the previous expectation of about $6.9 billion), indicating more than 15% growth year over year. Adjusted net income is now anticipated to be about $2.925 billion, up from the previously expected value of $2.69 billion. CCL now expects adjusted EPS to be approximately $2.14, up from $1.97 expected earlier.
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 14.41% due to these changes.
VGM Scores
At this time, Carnival has a average Growth Score of C, a grade with the same score on the momentum front. However, the stock has a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Carnival has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.