Carnival (NYSE:CCL) Posts Earnings Results, Beats Estimates By $0.02 EPS

Carnival (NYSE:CCL) released its quarterly earnings data on Friday. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02, FiscalAI reports. Carnival had a return on equity of 28.39% and a net margin of 10.37%.The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year.

Here are the key takeaways from Carnival’s conference call:

• Reported a strong Q1 beat with record first-quarter revenues, net yields, operating income, EBITDA and customer deposits; bookings are ~85% of 2026 on the books and cumulative future-year bookings hit a first-quarter record.
• Launched the long-term “PROPEL” plan targeting ROIC above 16% by 2029, >50% EPS growth vs. 2025, and returning >40% of operating cash flow (~$14B) to shareholders, including an initial $2.5B buyback authorization.
• Fuel-price volatility is a material headwind—2026 guidance includes a $0.38 per-share drag from higher fuel, and a 10% change in fuel costs affects results by ~$160M (~$0.11/sh), with guidance based on a specific Brent curve assumption.
• Management expects continued margin expansion driven by yield improvement (earlier guest engagement, higher onboard spend, pricing), disciplined capacity (limited new ships) and cost/consumption reductions (noting multi‑year fuel-consumption savings).

Carnival Stock Performance

NYSE:CCL opened at $24.15 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.32 and a quick ratio of 0.28. Carnival has a 1 year low of $15.07 and a 1 year high of $34.03. The stock’s 50 day simple moving average is $28.95 and its two-hundred day simple moving average is $28.83. The company has a market cap of $29.93 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.00 and a beta of 2.42.

Analysts Set New Price Targets

Several research analysts have weighed in on CCL shares. Weiss Ratings restated a “hold (c)” rating on shares of Carnival in a research note on Friday, December 26th. Wolfe Research reiterated an “outperform” rating on shares of Carnival in a research report on Friday, December 19th. The Goldman Sachs Group lowered their target price on shares of Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Carnival from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup raised their target price on shares of Carnival from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Nineteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Measured Wealth Private Client Group LLC bought a new position in Carnival during the third quarter valued at $25,000. Johnson Financial Group Inc. purchased a new position in shares of Carnival in the 3rd quarter worth $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Carnival in the 4th quarter worth about $32,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Carnival during the 4th quarter valued at about $35,000. Finally, DV Equities LLC purchased a new stake in shares of Carnival during the 4th quarter valued at about $46,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival News Roundup

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Q1 beat on both EPS and revenue; strong demand and record bookings support medium‑term revenue growth. Carnival reported non‑GAAP EPS of ~$0.20 and revenue of ~$6.17B, topping consensus and citing stronger onboard spend and bookings. Read More.
• Positive Sentiment: Management authorized a $2.5B share buyback and highlighted improving cash flow/return to profitability — actions that are shareholder friendly and underpin upside if fuel pressure eases. Read More.
• Positive Sentiment: Analyst support: Mizuho raised its price target and maintained an outperform stance, and multiple firms continue to issue buy/overweight ratings — providing potential price support. Read More.
• Neutral Sentiment: Macro market moves are amplifying stock volatility today (broad indices down, oil rally lifting energy). That can exacerbate sector moves even when company fundamentals are mixed. Read More.
• Neutral Sentiment: Mixed financial metrics: top‑line growth and improved cash generation contrast with declines in operating/net income versus year‑ago levels — investors will watch margin trends and guidance cadence. Read More.
• Negative Sentiment: Company cut full‑year profit guidance, explicitly citing surging fuel costs driven by Middle East geopolitical tensions (management flagged a sizable fuel bill increase). That guidance reduction is the primary driver of the share decline. Read More.
• Negative Sentiment: Fuel expense hit: coverage cites fuel costs rising to roughly $2.15B and warns higher fuel will weigh on FY26 results — a direct margin headwind for a fuel‑intensive operator. Read More.
• Negative Sentiment: Market reaction: shares fell despite the beat because investors focused on the guidance cut and macro‑driven oil spike — illustrating sensitivity to commodity and geopolitical risk. Read More.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.