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Carnival Corporation CCL Q3 2025 earnings

Reported September 29, 2025 · Before market open

Revenue$8.2BBeat by $50.2M
EPS$1.43Beat by $0.11
Revenue estimate$8.1B
EPS estimate$1.32

Next report

Oct 5, 2026 (in a month)
Revenue estimate$8.4B
EPS estimate$1.35

Financials

Q3 2025

Income statement

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Revenue$8.2B+3.3%
Gross profit$3.8B+4.9%
Operating income$2.3B+4.3%
Net income$1.9B+6.7%
EPS (diluted)$1.33+5.6%

Balance sheet

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Cash & equivalents$1.8B+16.1%
Total debt$30.0B-9.9%
Total equity$11.9B+38.7%
Total assets$50.8B+2.1%

Cash flow

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Operating cash flow$1.4B+14.8%
CapEx$647.0M+12.1%
Free cash flow$736.0M+17.2%

Valuation & ratios

Valuation

as of 08/31/25
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Market cap$43.24B+100%
Enterprise value$71.43B+33.9%
P/E16.4×+2.6×
P/S1.6×+0.8×

Profitability

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Gross margin39.5%+2.5pp
Operating margin16.4%+2.5pp
Net margin10.1%+3.7pp
FCF margin11.1%+6.1pp

Returns & leverage

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Return on equity25.7%+5.6pp
Debt / equity2.5×-1.4×
Current ratio0.3×0.0×

Segments

By segment

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Europe Segment$2.6B+9.4%
Tour And Other$179.0M-1.1%
Cruise Support$74.0M+19.4%

By product

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Passenger ticket$5.4B+3.6%
Onboard and other$2.7B+2.5%

FAQ

When did Carnival Corporation report Q3 2025 earnings?
Carnival Corporation (CCL) reported Q3 2025 earnings on September 29, 2025 before market open.
What were Carnival Corporation's Q3 2025 revenue and EPS?
Carnival Corporation reported revenue of $8.2B and eps of $1.43 for Q3 2025.
Did Carnival Corporation beat estimates in Q3 2025?
Revenue beat the consensus estimate of $8.1B by $50.2M. EPS beat the consensus estimate of $1.32 by $0.11.
How did Carnival Corporation's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.3% from $7.9B a year earlier and eps grew 12.6% from $1.27.