Carnival Reports Non-GAAP EPS of $0.34, Exceeding Estimates by $0.09; Revenue of $6.33B Falls Short by $40M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2025
0mins
Should l Buy CCL?
Source: SeekingAlpha
Q4 Financial Performance: Carnival reported a Q4 non-GAAP EPS of $0.34, beating expectations by $0.09, while revenue of $6.33 billion increased by 6.6% year-over-year but missed estimates by $40 million.
Record Customer Deposits: The company achieved record customer deposits of $7.2 billion, surpassing the previous fourth quarter record as of November 30, 2024.
2026 Financial Outlook: For the full year 2026, Carnival anticipates a 12% increase in adjusted net income and a 2.5% rise in net yields, despite less than 1% capacity growth.
Q1 2026 Expectations: In the first quarter of 2026, Carnival expects net yields to increase by approximately 1.6% compared to 2025, with adjusted cruise costs excluding fuel per ALBD projected to rise by about 5.9% compared to Q1 2025.
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Analyst Views on CCL
Wall Street analysts forecast CCL stock price to rise
18 Analyst Rating
14 Buy
4 Hold
0 Sell
Strong Buy
Current: 26.210
Low
33.00
Averages
37.41
High
45.00
Current: 26.210
Low
33.00
Averages
37.41
High
45.00
About CCL
Carnival Corporation is a global cruise and leisure travel company. The Company has a portfolio of cruise lines, including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn. The Company's segment includes NAA cruise operations, Europe cruise operations (Europe), Cruise Support and Tour and Other. Its Cruise Support segment includes its portfolio of port destinations and exclusive islands as well as other services, all of which are operated for the benefit of its cruise brands. In addition to its cruise operations, it owns Holland America Princess Alaska Tours, a tour company in Alaska and the Canadian Yukon, which complements its Alaska cruise operations. Its Tour and Other segment represents the hotel and transportation operations of Holland America Princess Alaska Tours and other operations. Its tour company owns and operates hotels, lodges, glass-domed railcars and motorcoaches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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