Carnival CEO Says Vacation Demand Is Defying Economic Angst: ‘Vacations Are Sacrosanct’
Carnival Corp. (NYSE: CCL ) stock is trading higher Tuesday after the cruise operator reported better-than-expected third-quarter results and raised its fiscal 2026 adjusted EPS outlook above estimates. The company also pointed to record booking trends for 2027. During the earnings call, CEO Josh Weinstein said Carnival is seeing resilient vacation demand despite weaker consumer confidence, higher gasoline prices and broader inflation pressures. He said booking momentum accelerated through July and August, adding that "vacations are sacrosanct" and consumers continue to prioritize travel "in good times and in bad." Earnings Beat Estimates Carnival reported adjusted EPS of $1.43, beating the $1.36 analyst estimate. Revenue rose 3.5% year over year to $8.44 billion, beating the $8.30 billion estimate. GAAP diluted EPS increased to $1.40 from $1.33 a year earlier. Adjusted EBITDA was nearly unchanged at $2.99 billion. Net income attributable to Carnival rose to $1.92 billion from $1.85 billion. Passenger-ticket revenue increased to $5.53 billion from $5.43 billion. Onboard and other revenue climbed to $2.91 billion from $2.72 billion. Operating income declined to $2.22 billion from $2
Carnival Corp. (NYSE: CCL ) stock is trading higher Tuesday after the cruise operator reported better-than-expected third-quarter results and raised its fiscal 2026 adjusted EPS outlook above estimates. The company also pointed to record booking trends for 2027. During the earnings call, CEO Josh Weinstein said Carnival is seeing resilient vacation demand despite weaker consumer confidence, higher gasoline prices and broader inflation pressures.
36 analyst estimate. 30 billion estimate. 33 a year earlier. 99 billion.
85 billion. 43 billion. 72 billion. 27 billion.
4%, more than one percentage point above Carnival's June guidance. 8%, also about one percentage point better than June guidance. 3% as fuel prices increased. 8%.
8 million a year earlier. 7%. 6 billion, $500 million above the prior-year record. Carnival said 2027 booked occupancy and pricing are at record levels.
Bookings for 2028 are also running ahead of last year's levels on both occupancy and price. "Taken together, the ongoing strength we are seeing across our record booking curve, which has extended out even further, reinforces our confidence in the durability of demand for our cruise lines and the earnings power of our business," Weinstein said. 41 billion. 91 billion in total debt.
2 billion of share repurchases year to date. It also paid $204 million in quarterly dividends and redeemed $500 million of 7% coupon notes. S&P also upgraded Carnival to investment grade. 22 analyst estimate.
14 billion. Carnival also expects more than $150 million of operational improvement compared with its June guidance, despite an estimated $150 million impact from higher fuel prices. For the fourth quarter, Carnival expects adjusted EPS of about 20 cents, below the 26-cent estimate. 30 billion.
01 at the time of publication, according to data Pro. Image courtesy of Carnival Cruise Line Read Also: Carnival Earnings Prediction Market Preview: What Will Josh Weinstein Say?