Carnival stock leapt Tuesday after the cruise giant cleared earnings forecasts and posted record sales for the second quarter. Rival cruise stocks also caught some uplift following the report.
Carnival reported adjusted earnings of 11 cents per share, improved from a loss of 31 cents per share adjusted last year. Revenue growth slowed for the eighth quarter in a row, increased 17.7% to $5.78 billion. Carnival noted that sales were a record for the second quarter.
FactSet expected Carnival to report an adjusted loss of 1 cent per share on $5.68 billion in revenue.
Carnival said that it continues to see strong booking momentum, with record volumes for 2025 sailings. The cruise line reported that its advanced booked position for the full 2025 year is already higher than 2024 in both price and occupancy.
Carnival lifted its 2024 adjusted net income guidance by $275 million to $1.55 billion, compared to FactSet views of $1.37 billion.
The company guided Q3 adjusted net income to increase 35% to $1.58 billion, just ahead of analyst forecasts of $1.54 billion.
For the third quarter, analysts predict earnings increase 29% to $1.11 per share. FactSet expects Q3 sales to jump 13% to $7.75 billion.
Carnival Stock Jumps
CCL stock leapt 8.9% Tuesday, blasting past a 17.07 buy point in a three-month cup-with-handle base.
The move erased much of Carnival's 11.6% decline for this year, through Monday's close.
Rival Royal Caribbean surged 4% Tuesday. RCL stock jumped 24% this year and is extended following a late March breakout.
Norwegian Cruise Line jumped 5.2% Tuesday. NCLH stock carved 8.6% lower in 2024.
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