earnings
confidence high
sentiment positive
materiality 0.90
Carnival beats Q2 guidance; net income $565M, revs $6.3B, hits 2026 targets early
CARNIVAL PLC
- Adjusted net income $470M ($0.35 EPS) beat March guidance by $185M; net income $565M ($0.42 diluted EPS), ~$475M improvement YoY.
- Record Q2 revenues $6.3B (+$550M YoY); record net yields constant currency +6.4% vs 2024.
- Record adjusted EBITDA $1.5B (+26% YoY); exceeded 2026 SEA Change targets (adj. ROIC >12.5%, adj. EBITDA/ALBD) 18 months early.
- Customer deposits all-time high $8.5B; cumulative advanced bookings 2026 at record prices, in line with 2025 levels.
- Revolver capacity upsized to $4.5B (50% increase) and extended in June 2025.
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