They say good things come to those who wait, and that appears to be the case for investors in cruise line operator Carnival (CCL) as the shares hit a post-pandemic high last week.

In mid-June, the firm posted a strong second-quarter trading update showing better-than-expected revenue ($1.51 billion against a consensus of $1.37 billion) and earnings per share ($0.35 against Wall Street’s $0.25), suggesting the cruise industry is more resilient than analysts expected.

In its statement, Carnival said it had hit its end-2026 targets 18 months early, with its adjusted return on invested capital and adjusted operating profit per lower berth reaching the highest level in almost two decades.

The firm also raised its third-quarter operating profit and earnings per share forecasts, along with its full-year outlook, saying its advanced booked position for 2026 was in line with the record levels it reached last year and at ‘historical high prices’ in constant currencies.

‘Our amazing team delivered yet another phenomenal quarter, more than tripling adjusted net income driven by record net yields and strong close-in demand,’ commented chief executive Josh Weinstein.

‘We continue to set ourselves up well for 2026 and beyond, with so much more potential to take our margins, returns and results even higher over time’, added the CEO. 

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