Carnival Corporation (CCL) stock surged 13% on Tuesday following its fiscal third-quarter report, which exceeded expectations with adjusted earnings of $1.43 per share, surpassing the Zacks Consensus of $1.36. Revenue for the quarter reached a record $8.44 billion, up 3.5% year-over-year and also above the projected $8.36 billion.
Carnival’s strong performance comes amid concerns over rising fuel costs and geopolitical disruptions. Customer deposits hit a record $7.6 billion despite flat capacity growth, indicating robust demand heading into 2027. The company has raised its fiscal 2026 adjusted EPS outlook to approximately $2.24, with adjusted net income forecasted at around $3.08 billion.
Despite these results, Carnival anticipates Q4 adjusted EPS of about $0.20, slightly below the current consensus of $0.24. Overall, the strong demand outlook and record bookings support a bullish sentiment for the cruise line company.
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