Carnival Corporation reported another quarter of record revenues and surpassed 2026 financial goals ahead of schedule, driven by strong booking positions and new destination launches. However, geopolitical uncertainties and expected cost increases in the coming quarters present challenges, along with the initial yield impact of the new loyalty program.

Company Guidance -

Q3 2025

In the second quarter of 2025, Carnival Corporation & plc reported its eighth consecutive quarter of record revenue, achieving new highs in EBITDA and operating income both in total and on a per ALBD basis. Customer deposits reached an all-time high, and year-over-year, EBITDA increased by 26%, operating income rose by 67%, and net income more than tripled, exceeding guidance by $185 million. Yields grew by approximately 6.5%, surpassing guidance by 200 basis points, with both ticket and onboard spending performing strongly. Unit costs also improved by 200 basis points, with EBITDA margins surpassing 2019 levels by 200 basis points, marking the highest margins in nearly two decades. The company exceeded its 2026 financial targets, achieving a 52% increase in EBITDA per ALBD and a 12.5% ROIC, doubling from 2023, and also met its carbon intensity reduction target. Looking forward, Carnival anticipates further yield growth and aims to set new targets for 2025, with strong booking positions and high prices, bolstered by strategic marketing and investment initiatives.

Record Revenues and Financial Performance

Carnival Corporation achieved record revenues for the eighth consecutive quarter, with EBITDA up 26%, operating income up 67%, and net income more than tripled year-over-year. EBITDA margins were 200 basis points higher than 2019, marking the highest margins in nearly twenty years.

Early Achievement of 2026 Targets

Carnival surpassed its 2026 targets 18 months ahead of schedule, including a 52% increase in EBITDA per ALBD and a 12.5% ROIC. The company also reduced its carbon intensity by 20% compared to 2019.

Strong Customer Deposits and Booking Position

Customer deposits reached an all-time high, with the booking position for 2026 in line with last year's record levels and at historically high prices.

Successful Launch of New Destinations

Carnival is set to open Celebration Key in July 2025 and expand Relax Away Half Moon Cay by mid-2026, enhancing its portfolio of private island destinations.

Carnival (CUK) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CUK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 26, 2025	2025 (Q3)	1.32 / -	1.27	―	―	―
Jun 24, 2025	2025 (Q2)	0.25 / 0.35	0.11	218.18% (+0.24)
Mar 21, 2025	2025 (Q1)	0.03 / 0.13	-0.14	192.86% (+0.27)
Dec 20, 2024	2024 (Q4)	0.07 / 0.14	-0.07	300.00% (+0.21)
Sep 30, 2024	2024 (Q3)	1.18 / 1.27	0.86	47.67% (+0.41)
Jun 25, 2024	2024 (Q2)	-0.01 / 0.11	-0.31	135.48% (+0.42)
Mar 27, 2024	2024 (Q1)	-0.18 / -0.14	-0.55	74.55% (+0.41)	―
Dec 21, 2023	2023 (Q4)	-0.13 / -0.07	-0.85	91.76% (+0.78)	―
Sep 29, 2023	2023 (Q3)	0.75 / 0.86	-0.581	248.02% (+1.44)	―
Jun 26, 2023	2023 (Q2)	-0.34 / -0.31	-1.639	81.09% (+1.33)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CUK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 24, 2025	$21.57	$23.26	+7.83%
Mar 21, 2025	$19.05	$18.67	-1.99%
Dec 20, 2024	$22.83	$24.32	+6.53%
Sep 30, 2024	$16.86	$16.67	-1.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Carnival Corporation & plc (CUK) report earnings?

Carnival Corporation & plc (CUK) is schdueled to report earning on Sep 26, 2025, Before Open (Confirmed).

What is Carnival Corporation & plc (CUK) earnings time?

Carnival Corporation & plc (CUK) earnings time is at Sep 26, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

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What is CUK EPS forecast?

CUK EPS forecast for the fiscal quarter 2025 (Q3) is 1.32.

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