Carnival Corp. shares rose 0.22% to $25.16 Wednesday after the cruise operator reported adjusted earnings of $1.43 per share and revenue of $8.435 billion, exceeding analyst estimates of $1.36 and $8.300 billion. The company raised its fiscal 2026 adjusted earnings guidance to about $2.24 per share from $2.22, but forecast fourth-quarter adjusted earnings of roughly $0.20 per share, below the $0.26 consensus estimate. Carnival said it was about half booked for full-year 2027, with occupancy and pricing at record levels, while customer deposits increased about 7% despite essentially flat capacity growth over the next 12 months. Management credited execution, cost control, earlier-than-expected benefits from its PROPEL initiative and artificial intelligence tools with offsetting higher fuel prices and inflation. Investors also considered a newly filed mixed-shelf registration statement with undisclosed terms. Analysts retained positive ratings but issued mixed price-target changes, with Susquehanna raising its forecast to $29, while Mizuho and BNP Paribas reduced theirs to $38 and $31, respectively.