The earnings call reflected a strong financial performance with record revenue, successful achievement of financial and sustainability targets, and positive future outlook with new destinations and fleet investments. However, concerns about geopolitical tensions and increased costs presented challenges.

Company Guidance -

Q3 2025

During the Carnival Corporation's second quarter 2025 earnings call, the company reported record-breaking results, marking eight consecutive quarters of record revenues and yields. Key financial metrics highlighted included a 26% year-over-year increase in EBITDA, a 67% rise in operating income, and net income surpassing guidance by $185 million. Yields improved by 6.5%, outperforming guidance by 200 basis points, while unit costs were also 200 basis points better than expected. The company achieved historic EBITDA margins, 200 basis points higher than in 2019, and reached its 2026 targets for EBITDA per ALBD growth and return on invested capital (ROIC) 18 months ahead of schedule. Additionally, the company met its environmental target of reducing carbon intensity by 20% from 2019 levels. Looking forward, Carnival aims to sustain strong yield growth, with expectations of a 16% increase in yields across 2024 and 2025.

Record Revenue and Earnings

Carnival achieved record revenues and new second quarter highs for EBITDA and operating income, with EBITDA up 26% year-over-year and operating income up 67%.

Exceeded Financial Targets

Carnival surpassed its 50% EBITDA per ALBD growth target and 12% return on invested capital target 18 months ahead of schedule.

Sustainable Achievements

Carnival reduced its carbon intensity by 20% compared to 2019, meeting its 2026 sustainability target.

Strong Booking Position

Customer deposits reached an all-time high, and the company maintained a strong booking position with high prices.

Celebration Key and New Destinations

The opening of Celebration Key and expansions at Relax Away Half Moon Cay and Mahogany Bay are expected to boost consumer interest and revenue.

Successful Fleet Investments

The introduction of Aida Diva and planned new builds for Aida and Carnival brands are expected to drive future demand.

Loyalty Program Launch

Carnival announced a new loyalty program, Carnival Rewards, expected to increase customer engagement and lifetime value.

Debt Reduction Efforts

Carnival prepaid $350 million in debt and expects to opportunistically accelerate debt reduction, with leverage metrics improving.

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

Daily Earnings Calendar >

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 (CUK) report earnings?

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

What is Carnival (CUK) earnings time?

Carnival (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?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CUK EPS forecast?

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

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