Carnival Tops Earnings Estimates, Gives Positive Booking Outlook

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Key Takeaways

• Carnival Corp.’s fourth-quarter earnings outpaced forecasts, and the company gave optimistic guidance about demand.
• The cruise line operator posted strong gain grounds in both passenger ticket revenue and onboard and other revenue.
• CEO Josh Weinstein said that 2025 is looking to be “another symbol year” for the company, as bookings for future trips jumped.

Carnival Corporation (CCL) shares gained Friday when the yachting trip line operator posted better-than-expected profit and gave an optimistic outlook about the new year.

Carnival reported fourth-quarter earnings per part (EPS) of $0.23, nearly triple the $0.08 average estimate of analysts surveyed by Visible Alpha, while adjusted EPS of $0.14 also surpass expectations. Revenue rose 10% to a Q4 record of $5.94 billion, although that was slightly below projections.

Traveller ticket revenue gained 10% to $3.85 billion, and onboard and other revenue was up 10.5% to $2.08 billion.

CEO Stipulates 2025 ‘Shaping Up to Be Another Banner Year’

Chief Executive Officer (CEO) Josh Weinstein said that “2025 is form up to be another banner year, with yield growth expected to far outpace historical growth rates and again surpass unit cost growth.”

Carnival noted that booking volumes taken in the fourth quarter for 2025 were stiff than the year before, despite less available inventory and the traditionally slower period around the election. It continued that booking volumes taken for 2026 “continued to break records, reflecting sustained demand even for at out sailings.”

Shares of Carnival Corporation advanced 4.5% in recent trading and have risen more than 40% year-to-date.