Carnival lifts operating outlook after record quarterly earnings

Carnival ($CCL) reported third-quarter revenue of $8.44 billion and net income of $1.9 billion, with adjusted earnings of $1.43 per share. Constant-currency net yields increased 2.4%, beating its earlier guidance by more than one percentage point. Adjusted EBITDA reached $3.0 billion, approximately $110 million above the previous forecast, while customer deposits increased to a third-quarter record of $7.6 billion.

The cruise operator now expects full-year constant-currency net yields to grow about 2.3% and adjusted net income of approximately $3.08 billion. Better operating performance is helping absorb a roughly $150 million adverse fuel-price impact on the outlook. Record pricing and occupancy for 2027 bookings support visibility, although those bookings are not completed voyages. The company also reported approximately $1.2 billion of year-to-date share repurchases.

Sources:

• Issuer release