Carnival Corp. (CCL) Tops Q1 EPS by 11c

Carnival Corp. (NYSE: CCL) reported Q1 EPS of $0.13, $0.11 better than the analyst estimate of $0.02. Revenue for the quarter came in at $5.81 billion versus the consensus estimate of $5.75 billion.

2025 Outlook

For the full year 2025, the company expects:

• Net yields (in constant currency) approximately 4.7 percent higher than 2024, 0.5 percentage points better than December guidance.
• Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.8 percent compared to 2024, in line with December guidance.
• Adjusted net income up over 30 percent compared to 2024 and better than December guidance by $185 million.
• Adjusted EBITDA of approximately $6.7 billion, up nearly 10 percent compared to 2024 and better than December guidance.
• Adjusted ROIC of approximately 12 percent is now expected to reach the 2026 SEA Change target one year in advance, alongside exceeding the company's 2026 SEA Change EBITDA per ALBD target.
• For the second quarter of 2025, the company expects:
• Net yields (in constant currency) up approximately 4.4 percent compared to strong 2024 levels.
• Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 5.5 percent compared to the second quarter of 2024 primarily due to higher dry-dock days.
• Adjusted EBITDA of approximately $1.3 billion, up 10 percent compared to the second quarter of 2024.
• See "Guidance" and "Reconciliation of Forecasted Data" for additional information on the company's 2025 outlook.

For earnings history and earnings-related data on Carnival Corp. (CCL) click here.

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