Carnival (CCL) Q3 Earnings Preview: Strong Demand Drives Optimism

Carnival Corporation is poised to report third-quarter earnings with Wall Street anticipating steady growth. Analysts forecast earnings per share between $1.31 and $1.32, marking a 3-4% year-over-year increase. Revenue projections of $8.09 billion to $8.11 billion reflect similar growth, fueled by record bookings and occupancy rates exceeding 112%.

The cruise operator benefits from resilient travel demand and firm pricing, though rising operational costs remain a watchpoint. Celebration Key, Carnival's new private island destination, emerges as a focal point for analysts. Mizuho's Ben Chaiken raised his price target to $37, citing the project's growth potential, while TD Cowen and Stifel Nicolaus maintain bullish mid-$30s targets.

Shares have gained 22% year-to-date as the market rewards Carnival's post-pandemic recovery trajectory. The earnings report will test whether operational execution can match elevated expectations in an increasingly cost-sensitive consumer environment.