CCL Earnings: Carnival Stock Slips Despite Record Bookings

Carnival (CCL) stock was on the move Friday following the release of the cruise line company’s latest earnings report. The company posted adjusted earnings per share of 20 cents, which handily beat Wall Street’s estimate of 18 cents. It also noted that adjusted EPS increased 50% year-over-year.

Carnival’s revenue for the first quarter of 2026 came in at $6.2 billion, which was another win for the company when compared to analysts’ estimate of $6.14 billion. The company noted that it experienced record operating results and bookings during the quarter.

Carnival stock was down 1.27% on Friday, extending a 17.83% year-to-date drop. However, the shares were still up 27.23% over the past 12 months.

Carnival 2026 Guidance

Carnival also provided a guidance update in its most recent earnings report. Here’s what the company expects in 2026:

• Net yields up approximately 2.75% compared to 2025 levels and 0.25% better than December guidance.
• Adjusted cruise costs excluding fuel per ALBD up approximately 3.1% compared to 2025 and better than December guidance.
• Operational improvement of nearly $150 million in adjusted net income compared to December guidance.

Carnival’s guidance reflects the purchase price of fuel for the month of March and early April, with Brent averaging $90 per barrel for the remainder of April and May, $85 per barrel for the third quarter, and $80 for the fourth quarter.

Is Carnival Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Carnival is Strong Buy, based on 12 Buy and two Hold ratings over the past three months. With that comes an average CCL stock price target of $35.31, representing a potential 43.41% upside for the shares. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.