Carnival Corporation reported record second-quarter revenue and adjusted net income on Monday but forecast third-quarter profit below analyst expectations, sending Carnival stock down about 8% in early trading.
The company posted revenue of $6.66 billion and adjusted net income of $569 million for the quarter ended May 31, both second-quarter records
Adjusted earnings per share came in at $0.41, up more than 15% from the prior year. Analysts had expected earnings of $0.34 per share on revenue of $6.7 billion, according to Barron’s. Revenue fell slightly short of that estimate.
Third-quarter adjusted EPS guidance came in at roughly $1.35, a figure that fell short of the $1.42 consensus estimate, according to Reuters. Full-year adjusted EBITDA guidance was trimmed to roughly $7.11 billion, down from a previous target of $7.19 billion, while the full-year adjusted EPS outlook edged up by just a penny to $2.22. CEO Josh Weinstein pointed to geopolitical pressures as a key headwind, particularly for Mediterranean bookings. “Our booked position for the second half of 2026 is higher than last year, at historically high prices (in constant currency), despite navigating more than a full quarter of extreme geopolitical volatility that primarily impacted booking trends for our European deployments, particularly in the Mediterranean region, which were closest in proximity to the conflict in the Middle East,” Weinstein said in a statement.