Carnival’s stock goes up by 12% because the big cruise company made more money than ever before

Cruise company Carnival’s stock went up by over 12% on Tuesday because the company made more money than ever before and earned more profit. The demand for cruises has been so high that it’s harder than usual to meet it. So Carnival updated its yearly expectations even though fuel prices have gone up.

Carnival made a record net income of $1.9 billion for the third quarter, which ended on August 31, and earned total revenue of $8.44 billion.

The company reported that customer deposits for the third quarter reached a new high of $7.6 billion. Which is almost a 7% increase compared to the same period last year. Additionally, both the occupancy rates and pricing for the entire year of 2027 are at their highest levels on record.

The company’s adjusted earnings per share for the quarter were $1.43, which is the same as last year’s amount. This result was affected by a decrease of $0.10 per share due to higher fuel costs and changes in currency values.

Carnival Corporation’s stock went up by over 12% for a short time during late morning trading on Tuesday.

The rally in Carnival shares helped lift other cruise company stocks, including Royal Caribbean, which rose almost 6% on Tuesday, and Norwegian, which went up almost 4%.

Fuel prices are surging. Carnival said that the average cost of fuel went up from $607 to $826 per ton, and that the company spent $615 million on fuel in the last quarter. Cruise company leaders have said that if high energy costs continue. Ticket prices might go up in 2027, or the cruise companies could add extra charges.They also keep the option to charge back for past daily fees, which are usually between $10 and $12 for each passenger each day.