Carnival Corporation (NYSE: CCL) stock climbed during intraday trading Tuesday after the cruise operator announced a surprising second-quarter profit, driven by increased customer spending on sailing.
Carnival recently announced impressive second-quarter results, beating expectations across key financial metrics. The cruise operator reported adjusted earnings per share (EPS) of $0.11, a significant beat compared to analysts’ expectations of a per-share loss of $0.02. Revenue also surged by 17.7% to $5.78 billion, exceeding estimates.
The quarter saw record highs in several metrics, including operating income of $560 million and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.2 billion. Carnival also reported an all-time high total customer deposits of $8.3 billion, underscoring strong demand and booking levels.
The cruise operator attributed these strong results to higher ticket prices, increased onboard spending by passengers, and favorable expense timing between quarters.
Carnival Sees ‘Continued Acceleration of Demand’
Chief Executive Officer Josh Weinstein expressed optimism about future growth prospects, stating,
“We see a continued acceleration of demand for 2025 and beyond.”
The company has revised its full-year adjusted EBITDA guidance to $5.83 billion, up about $200 million from its previous outlook.
Carnival Corporation (NYSE: CCL) Stock Reaction
On Tuesday, CCL stock jumped 8.72%, closing at $17.82, marking a 13.58% increase for the week. The trading volume was 106,131,432 shares, significantly higher than the average daily volume of 31.91 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
