Carnival (US:CCL) Zhi Tong Cai Jing·2025-06-25 00:21Core Viewpoint - Carnival Corporation (CCL.US) reported significantly better-than-expected Q2 earnings, leading to a nearly 7% surge in stock price, and raised its full-year guidance [1] Financial Performance - Adjusted earnings per share reached $0.35, exceeding analyst expectations of $0.24 [1] - Adjusted revenue hit a record high of $6.3 billion, surpassing market expectations of $6.2 billion [1] - Net profit soared to $565 million, a substantial increase from $92 million in the same period last year [1] Customer Insights - Customer advance payments reached a historic high of $8.5 billion [1] - The company noted that the cumulative booking volume for 2026 is on par with the record levels of 2025, with pricing remaining at historical highs [1] - Carnival highlighted the price advantage of sea travel over land vacations, which is particularly appealing to consumers with limited income amid economic uncertainty [1] Operational Highlights - The CEO stated that all brands under Carnival are showing strong growth momentum [1] - The profit margin for the last quarter reached its highest level in nearly two decades, driven by a surge in last-minute bookings, strong onboard spending, and rising ticket prices [1] Future Outlook - Carnival announced it has achieved its "2026 SEA Change" financial goals 18 months ahead of schedule, with adjusted return on invested capital and EBITDA per available bed day reaching near two-decade highs [2] - The company raised its full-year profit forecast, now expecting adjusted net income to be 40% higher than in 2024, an increase of approximately $200 million from March estimates [2] - Adjusted EBITDA for the year is projected to reach $6.9 billion, up from previous estimates of $6.7 billion [2] - The opening of the new private island resort "Celebration Key" in the Bahamas is set for July 19, which is expected to further enhance the company's offerings [2] - Post-pandemic demand for cruises remains strong, with rising ticket prices and increased occupancy rates driving industry profits back to pre-pandemic levels [2]