Core Insights - Carnival Corporation & plc has significantly declined from its previous status as a leading leisure travel service provider, indicating a major shift in its market position [1]. Company Overview - Carnival was once a thriving business that catered to millions, but it is now described as a shadow of its former self, highlighting the drastic changes in its operational success and market presence [1]. Investment Perspective - The article emphasizes a value investment approach focused on companies with strong fundamentals, sustainable competitive advantages, and high long-term growth potential, which may not currently apply to Carnival [1].

Core Viewpoint - Carnival Corporation & plc (CCL) is expected to report third-quarter fiscal 2025 results on September 29, 2025, with earnings per share (EPS) estimated at $1.31, reflecting a 3.2% increase from the previous year [1][8]. Financial Performance - The consensus estimate for fiscal third-quarter revenues is $8.1 billion, indicating a 2% growth year-over-year [5]. - CCL has a strong earnings surprise history, having outperformed the Zacks Consensus Estimate in the last four quarters with an average surprise of 169.9% [5][10]. Earnings Estimates - The current EPS estimate for Q3 is $1.31, with a 60-day unchanged consensus [2]. - The expected passenger ticket revenues are projected to rise 0.2% year-over-year to $5.25 billion, while onboard and other revenues are anticipated to increase by 2.3% to $2.71 billion [12]. Market Dynamics - European demand, premium pricing, and the launch of Celebration Key are expected to positively influence Q3 results [10][13]. - The company has seen strong booking momentum and robust onboard spending, contributing to revenue growth [11]. Cost Considerations - Total operating expenses are expected to rise by 1.5% year-over-year to $5.8 billion, driven by increased cruise costs excluding fuel [15]. - Management has indicated a 7% year-over-year increase in cruise costs, influenced by start-up expenses for Celebration Key and higher advertising costs [15]. Stock Performance - CCL shares have increased by 20.5% over the past three months, outperforming the Zacks Leisure and Recreation Services industry growth of 11.2% [16]. - The stock is currently trading at a forward P/E multiple of 13.64X, below the industry average of 18.77X, indicating a potential investment opportunity [19]. Strategic Initiatives - Carnival's strong demand trends support raised 2025 yield guidance, with record customer deposits and high pricing [21]. - The launch of Celebration Key and fleet enhancements are expected to drive incremental revenue and improve guest experiences [22]. Investment Outlook - Carnival is well-positioned for the upcoming fiscal third-quarter earnings, supported by resilient demand and sustained strength in pricing and onboard revenue [23]. - The company's discounted valuation relative to peers and leadership in the global cruise industry present a compelling opportunity for long-term investors [25].

Core Viewpoint - The upcoming earnings report from Carnival (CCL) is anticipated to show a quarterly earnings increase of 3.2% year-over-year, with revenues expected to rise by 2.2% [1] Financial Projections - Analysts predict Carnival's quarterly earnings will be $1.31 per share, reflecting a 3.2% increase from the previous year [1] - Revenue forecasts stand at $8.07 billion, indicating a 2.2% year-over-year growth [1] - The consensus EPS estimate has been revised upward by 5.6% over the past 30 days, indicating a positive reassessment by analysts [1] Revenue Breakdown - 'Revenues- Passenger ticket' are expected to reach $5.31 billion, a year-over-year increase of 1.3% [4] - 'Revenues- Onboard and other' are projected at $2.67 billion, suggesting a 0.5% increase year-over-year [4] Operational Metrics - Analysts forecast 'ALBDs (Available lower berth days)' to be 24.60 million, down from 25.20 million in the same quarter last year [4] - The 'Occupancy percentage' is expected to be 112.2%, slightly up from 112.0% a year ago [5] - 'Passenger cruise days (PCDs)' are estimated at 27.61 million, compared to 28.10 million in the same quarter last year [5] Cost and Yield Analysis - The consensus estimate for 'Fuel cost per metric ton consumed (excluding EUA)' is $595.27, down from $670.00 a year ago [5] - 'Net yields (per ALBD)' are projected at $247.71, an increase from $233.87 in the same quarter last year [6] - 'Fuel consumption in metric tons' is expected to reach 734 thousand metric tons, up from 700 thousand metric tons a year ago [6] Market Performance - Over the past month, Carnival shares have decreased by 3.6%, contrasting with a 3.1% increase in the Zacks S&P 500 composite [7] - Carnival currently holds a Zacks Rank 2 (Buy), indicating potential outperformance in the near future [7]

Group 1 - Costco Wholesale Corporation is highlighted as a significant retail player with earnings report scheduled after market close on Thursday [1] - Nike Inc. is set to report its earnings after market close next Tuesday [1] - Several IT services companies, including Accenture plc Class A (Ireland), will report earnings on Thursday morning [1] Group 2 - Leisure companies Carnival Corporation and Carnival Plc ADS are scheduled to report pre-market next Monday [1]

Core Insights - Holland America Line is enhancing its 2026 Grand Voyages by incorporating members of its Culinary Ambassador program, featuring renowned chefs and culinary experts [1][3][4] Culinary Enhancements - The Grand World Voyage will include Chef Masaharu Morimoto, Chef Ethan Stowell, and Master Tea Blender Steve Schwartz, while Chocolatier Jacques Torres will join the Grand Australia and New Zealand Voyage [1][6][7] - Guests will have opportunities for live cooking demonstrations, coffee chats, and exclusive dining experiences with the Culinary Ambassadors [4][10][12][13] Special Events - On March 7, 2026, both Grand Voyages will converge in Sydney, where Torres will host a "Chocolate Teatime" for guests [2][7] - Holland America Line executives will participate in special events during the Pacific Coast segment of the Grand World Voyage, including a Q&A session and itinerary reveal for the 2028 Grand World Voyage [8] Itinerary Options - The 2026 Grand World Voyage offers 10 shorter segments ranging from 14 to 72 days, allowing guests to customize their experience [4][15] - The Grand Australia and New Zealand Voyage provides two segments of 33 or 60 days [4][15] Themed Celebrations - Both Grand Voyages will feature gala balls and themed celebrations for various holidays, enhancing the onboard experience [9]

Core Viewpoint - Carnival Corporation & plc is preparing to release its quarterly earnings on September 29, 2025, with analysts estimating an EPS of $1.31 and projected revenue of approximately $8.09 billion [1][6] Financial Performance - Carnival's stock has surged about 216% over the past three years but remains 57% below its all-time highs from 2018, primarily due to managing a substantial debt of $27 billion [2][6] - The company has a price-to-earnings (P/E) ratio of approximately 15.96 and a price-to-sales ratio of about 1.53, indicating the market's valuation of its sales [3][6] - The enterprise value to sales ratio stands at around 2.55, while the enterprise value to operating cash flow ratio is approximately 12.21, reflecting cash flow efficiency [3] Financial Ratios - Carnival's debt-to-equity ratio is approximately 2.86, highlighting its financial leverage, and a current ratio of around 0.34 indicates its ability to cover short-term liabilities [4] - The company's earnings yield is about 6.27%, providing insight into the return on investment [4] Market Outlook - The upcoming earnings report is crucial, as a positive surprise could boost the stock price, while a shortfall might lead to a decline [4] - Management's discussion during the earnings call will be vital for assessing the sustainability of price changes and future earnings projections [5] - Declining interest rates may alleviate some concerns regarding high debt levels, but the key question remains whether demand for Carnival's services will persist long enough to reduce its debt [5]

Core Viewpoint - Carnival Corporation (CCL) shares are experiencing an upward trend, with positive expectations ahead of the third-quarter results set to be released on September 29, 2025 [1]. Group 1: Analyst Insights - Stifel analyst Steven M. Wieczynski has reiterated a Buy rating on CCL, increasing the price forecast from $34 to $38, citing strong close-in demand and pricing as key factors for a potential earnings beat [1][2]. - Wieczynski notes that booking trends remain healthy, with no observed weakening in onboard spending, countering recent concerns about softer pricing and demand for 2026 [2]. - The analyst believes that Carnival shares are undervalued and identifies multiple positive catalysts expected over the next six to twelve months [3]. Group 2: Financial Projections - Wieczynski anticipates that 2025 yields could exceed 5.5%, which would likely result in EBITDA slightly surpassing company guidance, projecting $6.99 billion against guidance of approximately $6.9 billion [4]. - The analyst sees a viable path for Carnival to regain investment-grade status by year-end, which could facilitate capital returns through dividends or buybacks [4]. - There is potential for Carnival to refinance higher-cost borrowings into lower-cost debt, leading to significant interest savings and enhancing the equity story [5]. Group 3: Current Market Performance - As of the latest publication, Carnival shares are trading higher by 0.59%, reaching $30.89 [5].

Core Viewpoint - Carnival Corporation (CCL) shares are experiencing an upward trend, with positive expectations for upcoming earnings results and strong demand in the market [1][2]. Group 1: Earnings and Analyst Predictions - Carnival is set to release its third-quarter results on September 29, 2025, with expectations of a "beat-and-raise" setup due to strong close-in demand and pricing [1]. - Stifel analyst Steven M. Wieczynski has reiterated a Buy rating on CCL, raising the price forecast from $34 to $38, indicating confidence in the company's performance [1]. - Wieczynski predicts that 2025 yields could exceed 5.5%, which would result in EBITDA slightly above company guidance, estimating $6.99 billion compared to the guidance of around $6.9 billion [4]. Group 2: Market Trends and Financial Health - Booking trends for Carnival remain healthy, with no observed weakening in onboard spending, countering recent concerns about pricing and demand for 2026 [2]. - The analyst believes that Carnival shares are currently undervalued, with several positive catalysts expected in the next six to twelve months [3]. - There is a viable path for Carnival to regain an investment-grade rating by the end of the year, which could facilitate capital returns through dividends or buybacks [4]. Group 3: Cost Management and Financial Strategy - Carnival has the potential to reduce higher-cost borrowings and refinance into lower-cost debt, leading to significant interest savings and enhancing the equity story [5]. - As of the publication date, Carnival shares are trading higher by 0.59% at $30.89, reflecting positive market sentiment [5].

Group 1 - Stifel raised the target price for Carnival Corporation from $34 to $38 while maintaining a "Buy" rating [1]

Group 1 - Major consumer and tech companies are set to report earnings in the upcoming week, with Costco Wholesale Corporation reporting on Thursday after market close and Accenture plc Class A (Ireland) before market open [1] - Micron Technology Inc. will kick off the earnings reports on Tuesday after market close, while Nike Inc. will conclude the reporting next Tuesday after market close [1] - Carnival Corporation and Carnival Plc ADS will report pre-market next Monday, amidst a moderately dense earnings schedule [1]