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Carnival Avalon cruise
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Carnival cruises to record quarterly profits, but its outlook fails to make waves with investors

Shares of the mega cruise line are up over 25% in the past year.

Nia Warfield

Carnival sailed past first-quarter expectations, but the stock failed to take off after its outlook came in softer than expected.

The cruise giant reported first-quarter adjusted earnings per share of $0.13, soaring past FactSet estimates of $0.02. Revenue hit a Q1 record of $5.81 billion, also topping projections. Operating income nearly doubled to $543 million.

Carnival CEO Josh Weinstein credited the results to “incredibly strong demand throughout our portfolio, including exceptional close-in demand that exceeded expectations for both ticket prices and onboard spending.” Carnival has successfully pulled in a mix of first-time cruisers, brand switchers, and loyalists willing to pay top dollar to board its ships.

However, Weinstein acknowledged that while the company isn’t “completely immune from the heightened macroeconomic and geopolitical volatility,” it remains “on track to have another stellar year across our cruise brands.” The broader travel sector is under pressure as tariff concerns, economic uncertainty, and cooling consumer confidence make investors wary over how long the cruise boom can last.

Carnival raised its full-year adjusted EPS forecast to $1.83, up from its prior estimate of $1.70. But its near-term outlook missed the mark: Carnival projects Q2 EPS of $0.22, slightly below analysts’ estimates of $0.23. Adjusted EBITDA is forecast at $1.30 billion, also missing FactSet’s expectation of $1.35 billion.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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