Financial Performance - Carnival Corporation & plc reported adjusted net income of $454 million in Q4 2025, translating to an adjusted EPS of $0.34, which is an increase of over 140% compared to 2024 and exceeded September guidance by more than $150 million [1] - Total revenues for Q4 2025 reached $6,330 million, up from $5,938 million in Q4 2024, driven by higher passenger ticket revenues and onboard and other revenues [2] - Full-year revenues for 2025 amounted to $26.6 billion, achieving record net yields in constant currency and surpassing guidance for the fourth time in 2025 due to strong close-in demand [2] Operational Efficiency - Fuel consumption per ALBD decreased by 5.6% in Q4 2025 compared to the previous year, reflecting the company's ongoing efforts and investments to reduce fuel consumption [3] - The company achieved a significant milestone by exceeding the investment grade leverage metric threshold, with a net debt to adjusted EBITDA ratio of 3.4x for 2025 [3] Future Outlook - The company anticipates adjusted net income to grow by approximately 12% in FY 2026 compared to the record year of 2025, despite less than 1% capacity growth [4]

Miami, Florida-based Carnival Corporation & plc (CCL) is a cruise company with a market cap of $32.7 billion. It provides leisure travel services through well-known brands and generates revenue primarily from passenger ticket sales and onboard spending.   It is scheduled to announce its fiscal Q4 earnings for 2025 before the market opens on Friday, Dec. 19 Before this event, analysts expect this cruise company to report a profit of $0.25 per share, up 78.6% from $0.14 per share in the year-ago quarter. T ...

Group 1: Company Overview - Carnival Corporation (NYSE: CCL) is a cruise company providing leisure travel services across North America, Australia, Europe, and internationally, operating through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour & Other [4] Group 2: Financial Performance - In Q3 2025, Carnival Corporation reported a record adjusted net income of $2 billion, exceeding pre-pandemic levels by approximately 10%, resulting in an EPS of $1.43, which beat Street expectations by $0.11 [2][3] - The total revenue for the quarter was $8.15 billion, reflecting a modest year-over-year increase of 3.25%, with yields increasing by 4.6% on a same-ship basis due to strong demand and high onboard spending [3] - The company's return on invested capital (ROIC) reached 13% for the trailing 12 months, and Carnival raised its full-year guidance for the third time this year, now expecting net income of approximately $2.9 billion or $2.14 per share [3] Group 3: Analyst Ratings and Market Outlook - Wells Fargo analyst Trey Bowers initiated coverage of Carnival with an Overweight rating and a price target of $37, citing the cruise sector as the most attractive area within gaming, leisure, and lodging [1] - The firm anticipates a rapid improvement in ROIC for both individual cruise companies and the industry as a whole, with expectations for continued growth in the total addressable market (TAM) for cruises [1]

Core Insights - Carnival Corporation & plc (NYSE:CCL) is recognized as a strong investment opportunity by Wall Street analysts, with a recent price target increase to $40 from $38 by Tigress Financial, maintaining a Buy rating due to record Q3 2025 results [1][3] - The company's 12-month price target indicates a potential upside of nearly 38% from current levels, with Q3 2025 net income reaching an all-time high of $2 billion, exceeding pre-pandemic levels by approximately 10% [2][3] - Carnival has raised its full-year 2025 net income guidance for the third time, now projecting around $2.9 billion or $2.14 per share, reflecting a 15% improvement over 2024 [3] Financial Performance - In Q3 2025, Carnival Corporation achieved a record net income of $2 billion, surpassing pre-pandemic benchmarks by about 10% [2] - The company anticipates a full-year 2025 net income of approximately $2.9 billion, which translates to $2.14 per share, marking a 15% increase compared to 2024 [3] Market Outlook - Forward bookings and guest deposits are at record levels, providing revenue visibility into 2026, with bookings for 2026 nearly half full at higher prices [1][3] - CEO Josh Weinstein confirmed strong demand, with record pricing levels for both North American and European bookings, and 2027 bookings starting off at a record pace [3] Company Overview - Carnival Corporation operates as a cruise company providing leisure travel services across North America, Australia, Europe, and internationally, structured into four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour & Other [3]

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].