Carnival raises annual profit forecast on strong demand
CCL•Carnival raised its 2026 adjusted earnings forecast to about $2.24 per share from $2.22 and said it was about half booked for 2027, with record occupancy and pricing. Third-quarter revenue was $8.44 billion and adjusted earnings were $1.43 per share, both above analyst estimates.
1. Forecast and bookings
Carnival raised its full-year profit target by more than $150 million from its June forecast, citing stronger pricing, lower operating costs and improved fuel efficiency that offset higher fuel prices. The company said 2027 bookings were about half complete, with occupancy and pricing at record levels, and that 2028 bookings were off to “an excellent start.”
2. Quarterly results
For the quarter ended August 31, Carnival reported revenue of $8.44 billion, above the $8.30 billion analyst average estimate, and adjusted earnings of $1.43 per share, compared with an estimated $1.36. Its shares rose nearly 12%; Royal Caribbean shares rose 6% and Norwegian Cruise Line shares gained 5% after Carnival beat third-quarter estimates.
