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Carnival Q1 Earnings & Revenues Top Estimates, Increase Y/Y
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Carnival Corporation & plc (CCL - Free Report) reported impressive first-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the top and bottom lines increased on a year-over-year basis. This upside was primarily backed by sustained demand strength and robust onboard revenues.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company anticipates surpassing its 2026 SEA Change financial targets a year ahead of schedule. For 2025, CCL expects to achieve its highest adjusted return on invested capital and adjusted EBITDA per available lower berth in nearly two decades. This strong financial outlook underscores the company's operational efficiency and strategic growth initiatives.
CCL’s Q1 Earnings & Revenues
In the quarter under review, the company reported adjusted earnings per share (EPS) of 13 cents, beating the Zacks Consensus Estimate of 2 cents. In the year-ago quarter, CCL posted an adjusted loss of 14 cents per share.
Carnival Corporation Price, Consensus and EPS Surprise
Revenues in the quarter totaled $5.81 billion, beating the consensus mark of $5.74 billion. The metric also increased 7.5% year over year.
In first-quarter fiscal 2025, passenger ticket revenues amounted to $3.83 billion, up from $3.61 billion reported in the prior-year quarter. Our estimate for passenger ticket revenues was $3.8 billion.
Onboard and other revenues increased to $2 billion from $1.8 billion reported in the year-ago quarter. Our estimate for Onboard and other revenues was pegged at $1.9 billion.
CCL’s Q1 Financials
Adjusted net income in the quarter amounted to $174 million against a loss of $180 million reported in the year-ago quarter. Adjusted EBITDA totaled $1.20 billion compared with $871 million reported in the prior-year quarter.
CCL’s Balance Sheet
As of Feb. 28, 2025, cash and cash equivalents were $833 million compared with $1.21 billion as of Nov. 30, 2024. Carnival ended the quarter with liquidity of $3.8 billion. Total debt (current and long-term) as of Feb. 28, 2025, was $27.02 billion compared with $27.48 billion as of Nov. 30, 2024.
Bookings Update of CCL
Carnival continues to capitalize on strong demand, entering 2025 with less available inventory and securing higher pricing on first-quarter bookings compared with the previous year. The company’s strategic yield management approach has driven record-high cumulative advance bookings, with pricing at historical peaks for each quarter and occupancy levels aligning with last year’s records. Additionally, 2026 and beyond bookings have reached an all-time high, reflecting sustained consumer interest across North America and Europe. With a booking curve extending further than ever before, CCL remains well-positioned for long-term growth.
Total customer deposits as of Feb. 28 were $7.3 billion compared with $6.8 billion reported in the preceding quarter.
CCL’s 2025 Outlook
For second-quarter fiscal 2025, the company expects adjusted EBITDA to be approximately $1.32 billion, up 10% year over year. It expects fiscal second-quarter adjusted net income to be nearly $285 million. The company expects fiscal second-quarter adjusted EPS to be nearly 22 cents.
For fiscal 2025, the company anticipates adjusted EBITDA to be approximately $6.7 billion. Adjusted net income during the year is anticipated to be nearly $2.49 billion. In fiscal 2025, the company expects adjusted EPS to be $1.83.
CCL’s Zacks Rank and Stocks to Consider
Currently, Carnival carries a Zacks Rank #3 (Hold).
LTH delivered a trailing four-quarter earnings surprise of 21.6%, on average. The stock has soared 115% in the past year. The consensus estimate for LTH’s 2025 sales and EPS implies growth of 12.9% and 37.9%, respectively, from the year-ago levels.
Sportradar Group AG (SRAD - Free Report) currently carries a Zacks Rank #2 (Buy).
SRAD delivered a trailing four-quarter earnings surprise of 83.3%, on average. The stock has surged 83.3% in the past year. The Zacks Consensus Estimate for SRAD’s 2025 sales and EPS implies growth of 15.7% and 94.7%, respectively, from the year-ago levels.
RCI Hospitality Holdings, Inc. (RICK - Free Report) currently sports a Zacks Rank of 1. RICK delivered a trailing four-quarter negative earnings surprise of 62.9%, on average. The stock has lost 17.8% in the past year.
The Zacks Consensus Estimate for RICK’s fiscal 2025 sales and EPS indicates an increase of 2.5% and 1,278.8%, respectively, from the year-ago levels.
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Carnival Q1 Earnings & Revenues Top Estimates, Increase Y/Y
Carnival Corporation & plc (CCL - Free Report) reported impressive first-quarter fiscal 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the top and bottom lines increased on a year-over-year basis. This upside was primarily backed by sustained demand strength and robust onboard revenues.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company anticipates surpassing its 2026 SEA Change financial targets a year ahead of schedule. For 2025, CCL expects to achieve its highest adjusted return on invested capital and adjusted EBITDA per available lower berth in nearly two decades. This strong financial outlook underscores the company's operational efficiency and strategic growth initiatives.
CCL’s Q1 Earnings & Revenues
In the quarter under review, the company reported adjusted earnings per share (EPS) of 13 cents, beating the Zacks Consensus Estimate of 2 cents. In the year-ago quarter, CCL posted an adjusted loss of 14 cents per share.
Carnival Corporation Price, Consensus and EPS Surprise
Carnival Corporation price-consensus-eps-surprise-chart | Carnival Corporation Quote
Revenues in the quarter totaled $5.81 billion, beating the consensus mark of $5.74 billion. The metric also increased 7.5% year over year.
In first-quarter fiscal 2025, passenger ticket revenues amounted to $3.83 billion, up from $3.61 billion reported in the prior-year quarter. Our estimate for passenger ticket revenues was $3.8 billion.
Onboard and other revenues increased to $2 billion from $1.8 billion reported in the year-ago quarter. Our estimate for Onboard and other revenues was pegged at $1.9 billion.
CCL’s Q1 Financials
Adjusted net income in the quarter amounted to $174 million against a loss of $180 million reported in the year-ago quarter. Adjusted EBITDA totaled $1.20 billion compared with $871 million reported in the prior-year quarter.
CCL’s Balance Sheet
As of Feb. 28, 2025, cash and cash equivalents were $833 million compared with $1.21 billion as of Nov. 30, 2024. Carnival ended the quarter with liquidity of $3.8 billion. Total debt (current and long-term) as of Feb. 28, 2025, was $27.02 billion compared with $27.48 billion as of Nov. 30, 2024.
Bookings Update of CCL
Carnival continues to capitalize on strong demand, entering 2025 with less available inventory and securing higher pricing on first-quarter bookings compared with the previous year. The company’s strategic yield management approach has driven record-high cumulative advance bookings, with pricing at historical peaks for each quarter and occupancy levels aligning with last year’s records. Additionally, 2026 and beyond bookings have reached an all-time high, reflecting sustained consumer interest across North America and Europe. With a booking curve extending further than ever before, CCL remains well-positioned for long-term growth.
Total customer deposits as of Feb. 28 were $7.3 billion compared with $6.8 billion reported in the preceding quarter.
CCL’s 2025 Outlook
For second-quarter fiscal 2025, the company expects adjusted EBITDA to be approximately $1.32 billion, up 10% year over year. It expects fiscal second-quarter adjusted net income to be nearly $285 million. The company expects fiscal second-quarter adjusted EPS to be nearly 22 cents.
For fiscal 2025, the company anticipates adjusted EBITDA to be approximately $6.7 billion. Adjusted net income during the year is anticipated to be nearly $2.49 billion. In fiscal 2025, the company expects adjusted EPS to be $1.83.
CCL’s Zacks Rank and Stocks to Consider
Currently, Carnival carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Consumer Discretionary sector.
Life Time Group Holdings, Inc. (LTH - Free Report) presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
LTH delivered a trailing four-quarter earnings surprise of 21.6%, on average. The stock has soared 115% in the past year. The consensus estimate for LTH’s 2025 sales and EPS implies growth of 12.9% and 37.9%, respectively, from the year-ago levels.
Sportradar Group AG (SRAD - Free Report) currently carries a Zacks Rank #2 (Buy).
SRAD delivered a trailing four-quarter earnings surprise of 83.3%, on average. The stock has surged 83.3% in the past year. The Zacks Consensus Estimate for SRAD’s 2025 sales and EPS implies growth of 15.7% and 94.7%, respectively, from the year-ago levels.
RCI Hospitality Holdings, Inc. (RICK - Free Report) currently sports a Zacks Rank of 1. RICK delivered a trailing four-quarter negative earnings surprise of 62.9%, on average. The stock has lost 17.8% in the past year.
The Zacks Consensus Estimate for RICK’s fiscal 2025 sales and EPS indicates an increase of 2.5% and 1,278.8%, respectively, from the year-ago levels.