Carnival shares climb after earnings beat and upbeat outlook
The cruise operator exceeded analysts’ fiscal third-quarter expectations and forecast stronger-than-consensus net yield growth for fiscal 2026.
Carnival Corp. shares rose 12% in recent trading, placing the cruise operator among the S&P 500’s biggest gainers after it reported better-than-expected earnings and offered an optimistic outlook.
For its fiscal third quarter, Carnival reported adjusted earnings of $1.43 per share as revenue increased 3.5% from a year earlier to $8.44 billion, despite higher fuel prices. Analysts surveyed by Visible Alpha had projected adjusted earnings of $1.35 per share and revenue of $8.35 billion.
Carnival expects net yields to rise 3.8% in fiscal 2026, exceeding the 3.2% consensus estimate. The company also said booked occupancy and pricing for 2027 have reached record levels.
Chief Executive Josh Weinstein attributed the quarter’s record revenue and profit results to accelerating demand and tighter cost discipline, saying performance surpassed the company’s expectations.
Royal Caribbean shares also gained 7% to $258.55, with the move tied to Carnival’s results.
