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Carnival hikes annual profit target on steady cruise demand
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Carnival hikes annual profit target on steady cruise demand
Jun 24, 2025 6:45 AM

June 24 (Reuters) - Carnival Corp ( CCL ) raised

its annual profit forecast after beating second-quarter revenue

estimates on Tuesday driven by resilient demand from travelers

booking cruises to destinations including the Caribbean and

Mediterranean.

Shares of the company, whose portfolio of cruises includes

Holland America and Princess, rose 6.5% in premarket trading.

Cruise operators including Carnival Corp ( CCL ) and rival Royal

Caribbean Group have been expanding their portfolio of

carnival-themed private islands as they try to respond to strong

demand among cruisers for exclusive destinations.

Carnival has committed $600 million to develop Celebration

Key, an ambitious private resort destination on Grand Bahama

featuring water slides, entertainment venues, and dining

establishments. The facility debuts in July.

Bundled packages offering perks like drinks, Wi-Fi, and

excursions have encouraged guests to spend more onboard, further

boosting revenue for the cruise lines.

The cruise operator reported sales of $6.33 billion for the

quarter ended May 31, compared to analysts' estimates of $6.21

billion, according to data compiled by LSEG.

It forecast fiscal 2025 adjusted earnings per share of about

$1.97, compared with prior expectations of $1.83.

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