- Carnival’s adjusted earnings per share (EPS) for Q4 were 34 cents, beating the estimated 24 cents and last year’s 14 cents.
- Reported EPS stood at 31 cents compared to 23 cents in the prior year.
- Revenue reached $6.33 billion, a 6.6% increase from the previous year, although slightly below the $6.37 billion estimate.
- Adjusted net income was $454 million, significantly higher than last year’s $186 million and surpassing the estimate of $334.7 million.
- Adjusted EBITDA rose to $1.48 billion, a 21% increase year-over-year, surpassing the estimated $1.36 billion.
- Available lower berth days were 24.1 million, a 0.8% rise from the previous year, and close to the projected 24.12 million.
- Passenger cruise days remained steady at 24.6 million compared to the previous year, slightly below the 24.91 million estimate.
- The number of passengers carried held steady at 3.3 million, under the anticipated 3.38 million.
- Occupancy was at 102%, compared to 103% last year, and below the estimated 103.3%.
- Fuel costs were $425 million, lower than the estimated $446.1 million.
- Comments suggest strong momentum into 2026, with expectations of another year of double-digit earnings growth and return on invested capital expected to exceed 13.5%.
- There are 22 buy recommendations, 6 holds, and no sells for Carnival’s stock.
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Carnival Corp on Smartkarma
Analyst coverage of Carnival Corporation on Smartkarma reveals positive sentiment from Baptista Research analysts. In one report titled “Carnival Corporation’s Smart Pricing Approach: Can It Turn Demand Into Record Revenue?” the analysts highlight the company’s solid financial performance in the third quarter of 2025, showcasing record revenues, yields, operating income, EBITDA, and net income. CEO Josh Weinstein noted a significant achievement of $2 billion in net income despite a substantial increase in net interest expenses. Operating with reduced capacity compared to the previous year, Carnival managed to boost yields by 4.6%, demonstrating strong operational execution.
Another report by Baptista Research, titled “Carnival Corporation Is Reinventing Cruising with Lower Debt,” emphasizes Carnival’s eighth consecutive quarter of record revenue and yields, showcasing a robust financial performance. The company saw a notable increase in EBITDA, operating income, and net income, with yield growth exceeding expectations at almost 6.5%. This growth was driven by strong demand for tickets and onboard spending, showcasing Carnival’s ability to innovate and drive financial success while managing its debt effectively.
A look at Carnival Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
<p>Carnival Corporation, a major player in the cruise industry, is facing a mixed bag of outlooks according to Smartkarma Smart Scores. While the company scores high in areas of Growth and Resilience, with a score of 4 and 3 respectively, it falls short in terms of Dividend with a score of 1. This indicates a strong potential for future expansion and a certain level of stability during challenging times for the company.</p>
<p>Investors eyeing Carnival Corp should take note of its Value and Momentum scores, both standing at 3. These scores suggest a balanced valuation and moderate market performance. Overall, Carnival Corp‘s future seems promising with room for growth and a solid foundation to weather the storms, despite the lackluster dividend performance. Keep an eye on how the company’s strategic moves unfold in the coming years.</p>
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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