Carnival Reports Record Q1 Revenue, Raises Profit Forecast

Carnival Corporation reported record revenues of $5.81 billion for Q1 FY25, surpassing analyst expectations and reflecting a strong demand for cruising. The company's adjusted earnings per share (EPS) of $0.13 significantly exceeded the expected $0.02, with operating income nearly doubling year-over-year at $543 million. Carnival's performance was bolstered by a successful wave season, leading to higher ticket prices and onboard spending. The company also announced plans to raise its profit forecast for the year, with projections for net yield growth and adjusted EBITDA increases. Despite ongoing macroeconomic volatility, CEO Josh Weinstein expressed confidence in maintaining strong performance across its brands. Overall, Carnival's strategic financial management and market demand have positioned it well for continued growth.