Carnival Corporation (CCL) lifted its full-year outlook for the third time this year as the cruise operator posted better-than-expected third-quarter results and said booking volumes were outpacing capacity growth by a wide margin.
Nonetheless, Carnival shares were down nearly 4% in late trading Monday, while rival Norwegian Cruise Line Holdings (NCLH) also lost ground. Part of the decline could be due to profit-taking: Carnival shares came into the day up 23% so far in 2025.
Another possible drag: Carnival’s projection of passenger revenue lagged analysts’ estimates even as the cruise line posted strong bookings numbers. Carnival said it expects net yields to rise 5.3% in 2025, versus the 5.79% increase projected by analysts polled by Visible Alpha. Net yields measure revenue from passengers after commissions and other costs per cruise day.
Still, the company has
Carnival Says Cruise Bookings Are Strong. Its Stock Slides Anyway.
