Carnival Corporation (CCL)

Carnival Corp. (CCL) stock has seen a notable increase in the past six months. As of June 27, 2025, the share price was $27.26, representing a 45.62% increase from $18.72 on June 28, 2024. The stock has risen by 14.63% compared to the previous week and 16.30% over the last month. Key events impacting the stock price include strong Q2 2025 financial results, record customer deposits and bookings, a positive outlook and demand, and debt management.

The cruise industry, and thus Carnival Corp.'s business, is highly seasonal, with peak demand during the Northern Hemisphere summer months. This seasonality leads to fluctuations in occupancy and pricing, requiring strategic capacity and itinerary planning. The fiscal third quarter is significantly stronger than other periods, with revenue in Carnival's third fiscal quarter of 2024 being 33% higher than the next busiest period. Nearly 70% of Carnival's projected full-year adjusted EPS for 2025 is expected to come from the third quarter alone. Cruise line stocks, including Carnival, show strong seasonal performance from mid-May to early June.

Carnival Corporation & plc is the world's largest global cruise company and a major leisure travel company. It operates as a dual-listed company, with Carnival Corporation incorporated in Panama and headquartered in the U.S., and Carnival plc incorporated in England and Wales. The two entities function as a single economic enterprise with a unified management team and identical Boards of Directors, but maintain separate stock exchange listings. Carnival Corp. falls under the Consumer Discretionary sector and the Marine Transportation industry. Its primary business is the sale of cruises, accounting for 99% of its net sales, with revenue also generated from on-board services (33.5% of net sales) and, to a lesser extent, trips to Alaska through Holland America Princess Alaska Tours (1% of net sales). As of November 2024, Carnival Corporation operated a fleet of 94 ships with a total capacity of 269,970 berths.

Carnival Corporation has a significant global presence, with operations and routes covering North America, Europe, Australia, and Asia. Its net sales are geographically distributed, with North America accounting for 60.3%, Europe for 30.3%, Australia for 5.8%, and other regions for 3.6%. The company's cruise lines visit over 800 ports worldwide. Carnival also owns and operates eight global destinations exclusively for its cruise line guests, as well as Holland America Princess Alaska Tours in Alaska and the Canadian Yukon.

Carnival Corporation's brand reputation in the past year appears strong, marked by positive operational and sustainability achievements. The company has been recognized on Fortune's "World's Most Admired Companies" list for 2025. The company has achieved record revenues and operating income, with high customer satisfaction and bookings reaching an all-time high in 2024. Carnival Corporation has made significant strides in its sustainability efforts, achieving a per-passenger food waste reduction of over 30% in 2022 and setting a new goal to reduce food waste by 40% per person by 2025. The company has installed over 630 biodigesters fleetwide and relies on dehydrators to reduce hard waste volume. Carnival is also a leader in new fuel propulsion, with eight LNG-capable ships in service and three more on order, aiming for LNG to account for 20% of its fleet capacity by 2025. The launch of Celebration Key in March 2025 is a strategic product launch expected to support revenue growth.

Carnival Corporation's stock ownership is primarily held by institutional investors, who hold approximately 53.80% to 70% of the company's stock. Individual and public company shareholders hold around 45.93%, while insiders own a small fraction, approximately 0.27%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Key individual shareholders include Randall J. Weisenburger, Micky Arison, David Bernstein, and Stuart Subotnick.