Carnival (CCL) Q2 2025 Earnings Call June 24, 2025 10:00 AM ET Company Participants Beth Roberts - SVP - IRJosh Weinstein - CEODavid Bernstein - CFO & Chief Accounting OfficerSteven Wieczynski - Managing DirectorRobin Farley - Managing DirectorBrandt Montour - Director, Equity Research - Gaming, Lodging & LeisureDavid Katz - Managing Director Conference Call Participants Matthew Boss - Equity Research AnalystBenjamin Chaiken - Equity AnalystJames Hardiman - Director - Leisure and Travel AnalystConor Cunning ...

Carnival (CCL) Q2 2025 Earnings Call June 24, 2025 10:00 AM ET Speaker0 As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Beth Roberts, Senior Vice President, Investor Relations. Thank you, Beth. You may now begin. Speaker1 Thank you. Good morning, and welcome to our second quarter twenty twenty five earnings conference call. I'm joined today by our CEO, Josh Weinstein our CFO, David Bernstein and our Chair, Mickey Arison. Before we begin, please note that some ...

Tops Guidance Achieving Highest-Ever Second Quarter Operating Results Exceeding 2026 SEA Change Financial Targets 18 Months Early Second Quarter 2025 Earnings Presentation Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, performance or achievements to differ materially from those expressed or implied by our forward-looking statements. This note contains important cautionary statements of the known factors that we consider could m ...

MIAMI (June 24, 2025) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the second quarter 2025 and provided an updated outlook for the full year and an outlook for the third quarter 2025. According to Carnival Corporation & plc's Chief Executive Officer Josh Weinstein, "Our amazing team delivered yet another phenomenal quarter, more than tripling adjusted net income driven by record net yields (in constant currency) and strong close-in demand. We also remain on track f ...

The page numbering is dependent on the placeholder text boxes on the page layout in the master view, so please DO NOT remove them Disclaimers, Forward Looking Statements and Responsibility This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, Adjusted EBITDA, Adjusted Net Income (loss), and certain ratios and metrics derived therefrom. These non-GAAP measures are supplemental measures that are n ...

The page numbering is dependent on the placeholder text boxes on the page layout in the master view, so please DO NOT remove them Disclaimers, Forward Looking Statements and Responsibility This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, Adjusted EBITDA, Adjusted Net Income (loss), and certain ratios and metrics derived therefrom. These non-GAAP measures are supplemental measures that are n ...

Third Quarter 2024 Earnings Presentation Record Full Year Operating Results Expects 20 Percent Earnings Growth in 2025 Expects to Hit 2026 SEA Change EBITDA Target One Year Early Fourth Quarter 2024 Earnings Presentation The page numbering is dependent on the placeholder text boxes on the page layout in the master view, so please DO NOT remove them Disclaimers, Forward Looking Statements and Responsibility This presentation includes certain financial measures not presented in accordance with generally accep ...

Core Insights - Carnival Corporation & plc (CCL) is set to release its second-quarter fiscal 2025 results on June 24, 2025, with an expected earnings per share (EPS) of 24 cents, indicating a growth of 118.2% from 11 cents in the same quarter last year [1][8] - The consensus estimate for fiscal second-quarter revenues is $6.21 billion, reflecting a 7.4% increase year-over-year [5][8] Earnings Estimates and Trends - The earnings estimate trend over the past 60 days shows a stable EPS estimate of 24 cents for Q2, with slight increases in future quarters [2] - CCL has a strong earnings surprise history, having outperformed the Zacks Consensus Estimate in the last four quarters with an average surprise of 458.4% [5][6] Revenue and Growth Drivers - The anticipated EPS growth is attributed to higher pricing and strong booking volumes, with onboard spending also contributing to revenue growth [8][11] - Passenger ticket revenues are expected to rise by 5.6% year-over-year to $3.96 billion, while onboard and other revenues are projected to increase by 9.3% to $2.21 billion [13] Strategic Initiatives - Carnival's performance is bolstered by strong booking trends, robust onboard spending, and strategic pricing initiatives, with over 80% of full-year capacity already booked at higher prices [12][20] - The company is focusing on optimizing its portfolio and investing in high-return opportunities, including fleet enhancements and brand positioning [14][20] Cost and Margin Considerations - Elevated costs and macroeconomic pressures may impact margins, with total operating expenses expected to rise by 7.3% year-over-year to $5.6 billion [15] - Factors such as labor inflation, fuel price volatility, and foreign exchange headwinds could negatively affect the bottom line [15][21] Stock Performance and Valuation - CCL shares have increased by 11.4% over the past three months, outperforming the industry and S&P 500 [16] - The stock is currently trading at a forward P/E multiple of 11.80X, below the industry average of 17.70X, indicating a potential valuation opportunity [19] Long-term Growth Prospects - Carnival is leveraging strong consumer demand and an optimized fleet to drive long-term growth, with strategic investments aimed at enhancing guest experiences and sustaining pricing momentum [20][22] - Record customer deposits and strong forward bookings suggest healthy demand momentum heading into the second half of 2025 [24]

Too many investors remain too focused on the wrong detail here, missing just how well the company is handling the liability.The doubt surrounding this stock makes enough superficial sense. The company took on a massive amount of debt to survive the COVID-19 pandemic, after all. While the contagion is now mostly in the rearview mirror, all this debt is still on the balance sheet.There are a couple of important details the market's just not taking heed of, however, that make this name a compelling buy.The com ...

Group 1: Stock Performance - Carnival (CCL) closed at $23.61, reflecting a +1.42% change from the previous day's closing price, outperforming the S&P 500 which had a loss of 0.03% [1] - Prior to the recent trading session, Carnival shares had gained 1.66%, surpassing the Consumer Discretionary sector's loss of 0.61% and the S&P 500's gain of 0.6% [1] Group 2: Earnings Expectations - Carnival is expected to report an EPS of $0.24, representing an increase of 118.18% from the same quarter last year [2] - Revenue is anticipated to be $6.21 billion, indicating a 7.35% increase compared to the prior year [2] Group 3: Annual Estimates - For the annual period, earnings are projected at $1.88 per share and revenue at $26.1 billion, reflecting increases of +32.39% and +4.3% respectively from the previous year [3] - Recent analyst estimate revisions suggest a positive outlook for Carnival's business [3] Group 4: Zacks Rank and Valuation - Carnival currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate shifting 1.7% upward over the past month [5] - The Forward P/E ratio for Carnival is 12.4, which is lower than the industry average of 19.54 [6] - Carnival's PEG ratio stands at 0.54, compared to the industry average PEG ratio of 1.49 [6] Group 5: Industry Context - The Leisure and Recreation Services industry, which includes Carnival, has a Zacks Industry Rank of 71, placing it in the top 29% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]