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Carnival (CCL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

By Zacks Equity Research | September 29, 2025, 11:00 AM

Carnival (CCL) reported $8.15 billion in revenue for the quarter ended August 2025, representing a year-over-year increase of 3.3%. EPS of $1.43 for the same period compares to $1.27 a year ago.

The reported revenue represents a surprise of +0.99% over the Zacks Consensus Estimate of $8.07 billion. With the consensus EPS estimate being $1.32, the EPS surprise was +8.33%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Carnival performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • ALBDs (Available lower berth days): 24.6 million versus 24.6 million estimated by five analysts on average.
  • Occupancy percentage: 112% compared to the 112.3% average estimate based on five analysts.
  • Passenger cruise days (PCDs): 27.5 million versus the four-analyst average estimate of 27.65 million.
  • Fuel cost per metric ton consumed (excluding EUA): $607.00 versus $595.27 estimated by three analysts on average.
  • Net yields (per ALBD): $249.11 compared to the $247.58 average estimate based on three analysts.
  • Fuel consumption in metric tons: 700.00 Kmt versus 734.24 Kmt estimated by two analysts on average.
  • Fuel consumption in metric tons per thousand ALBDs: 28.00 Kmt versus 29.86 Kmt estimated by two analysts on average.
  • Revenues- Onboard and other: $2.72 billion compared to the $2.66 billion average estimate based on seven analysts. The reported number represents a change of +2.5% year over year.
  • Revenues- Passenger ticket: $5.43 billion versus the seven-analyst average estimate of $5.34 billion. The reported number represents a year-over-year change of +3.7%.

View all Key Company Metrics for Carnival here>>>

Shares of Carnival have returned -4% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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