Carnival Corporation shares have risen 11.2% over the past three months, yet the stock has underperformed both its industry and the S&P 500, which gained 13.9% and 14.4% respectively. The cruise operator reported record second-quarter fiscal 2026 revenues, EBITDA, net income, and customer deposits that reached an all-time high of $9 billion, while management exceeded its own guidance by roughly $100 million. However, geopolitical uncertainty and softer European demand forced the company to reduce its full-year normalized yield growth outlook by approximately 1 percentage point, and the Zacks Consensus Estimate for fiscal 2026 earnings per share has trended downward over the past 30 days. Carnival trades at a discount to industry peers on a forward 12-month price-to-earnings basis, and the stock currently carries a Zacks Rank #3, or Hold.
Carnival CorporationReduced full-year normalized yield growth outlook due to geopolitical uncertainty and softer European demand.
Norwegian Cruise Line Holdings Ltd
Royal Caribbean Cruises Ltd