Carnival surges after dropping record Q2 results and raising its full-year outlook

Carnival jumped over 8% Tuesday morning after the world’s biggest cruise operator posted a record second quarter and raised its full-year outlook.

The company reported adjusted earnings per share of $0.35, beating both its own guidance of $0.22 and Wall Street’s estimate of $0.25. Revenue hit a quarterly all-time high of $6.3 billion, also topping estimates, driven by strong last-minute booking demand and onboard spending.

“Even with the price increases we have achieved over the last few years, our tremendous value compared to land-based alternatives has supported our ability to continue demonstrating remarkable resilience amid heightened volatility,” Carnival CEO Josh Weinstein said in a statement. “In fact, close-in demand and onboard spending levels were incredibly strong for second quarter sailings and our booking curve continues to be the furthest out on record.”

Carnival now expects adjusted EPS for 2025 at $1.97, well above its previous guidance for $1.83 and the Street’s estimate of $1.85.

Thanks to today’s gain, the stock is now positive year to date.