Carnival Corporation reported robust financial results for the first quarter of 2025 on Friday, exceeding market expectations and raising its full-year earnings forecast.
The cruise operator delivered adjusted earnings per share (EPS) of $0.13, surpassing market expectations of $0.02 per share, while revenue reached a record $5.81 billion, coming in above estimates of $5.75 billion.
First-quarter revenues climbed $400 million year-over-year as the company cited “strong close in demand and continued strength in onboard revenue”.
Net yields significantly outperformed the company's December guidance, and operating income nearly doubled from the previous year to $543 million.
“Our first quarter was truly characterised by outperformance. This was across the board and led by incredibly strong demand throughout our portfolio including exceptional close-in demand that exceeded expectations for both ticket prices and onboard spending,” said Carnival’s CEO, Josh Weinstein.
Given the strong results, Carnival raised its full-year adjusted EPS outlook to $1.83, up from the prior estimate of $1.70.
Weinstein highlighted that the revised forecast "incorporates our increased first quarter yield results and reduced interest expense thanks to our recent successful refinancing".
At the time of writing, Carnival Corporation (NYSE: CCL) stock was trading at US$20.94, easing 1.2% from Thursday's close of $21.20. The stock recorded a day low of $19.82 and a day high of $21.52, with a market capitalisation of $27.1 billion.
