Carnival Corporation Ltd (NYSE:CCL) on Tuesday reported better-than-expected third-quarter financial results and raised its FY26 adjusted EPS guidance above estimates.

Carnival reported quarterly earnings of $1.43 per share which beat the analyst consensus estimate of $1.36 per share. The company reported quarterly sales of $8.435 billion which beat the analyst consensus estimate of $8.300 billion.

Carnival raised its fiscal 2026 adjusted EPS guidance to about $2.24 from $2.22, above the $2.22 analyst estimate. The company expects adjusted net income of about $3.08 billion and adjusted EBITDA of about $7.14 billion.

For the fourth quarter, Carnival expects adjusted EPS of about 20 cents, below the 26-cent estimate. It also expects adjusted net income of about $274 million and adjusted EBITDA of about $1.30 billion.

“We delivered another quarter of top and bottom-line records, with accelerating demand and even stronger cost discipline driving results ahead of our expectations. This performance reinforces the underlying trajectory of our business and the consistency of our commercial execution, as evidenced by our sustained track record of high-quality same-ship yield growth,” said Carnival Corporation’s Chief Executive Officer Josh Weinstein.

Carnival shares gained 1% to trade at $25.37 on Wednesday.

These analysts made changes to their price targets on Carnival following earnings announcement.

• BNP Paribas analyst Xian Siew maintained the stock with an Outperform rating and lowered the price target from $33 to $31.
• Mizuho analyst Ben Chaiken maintained the stock with an Outperform rating and cut the price target from $39 to $38.

Considering buying CCL stock? Here’s what analysts think:

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