Carnival (CCL) Q2 FY2026 earnings: revenue $6.7 billion, up 5.3% on the year
Carnival Corp. Ltd. (CCL) reported revenue of $6.7 billion for Q2 FY2026, the quarter ended 31 May 2026, up 5.3% on the same quarter a year earlier. Net income was $537 million, down 5.0% on the year, and diluted earnings per share $0.39. The figures are the company's own, from the 10-Q it filed with the SEC on 26 June 2026.
Revenue
$6.7 billion
+5.3% on the year · +8.1% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
12.8%
14.8% a year earlier
Q3 FY2024Q2 FY2026
Net income
$537 million
-5.0% on the year · +108.1% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$0.39
-7.1% on the year · +105.3% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
Record net yields and revenues: The company reported revenues of $6.7 billion and record net yields in constant currency, the twelfth consecutive quarter of record net yields.
Net income and adjusted net income rose: Net income attributable to Carnival Corporation was $537 million, against $565 million a year earlier. Adjusted net income was $569 million, against $470 million.
Mediterranean bookings hit by conflict: Geopolitical volatility mainly hit booking trends for European deployments, especially Mediterranean sailings closest to the Middle East conflict. Management used occupancy to protect pricing on those deployments.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
2,630
1,263
2,392
+108.2%
+9.9%
Capital expenditure
875
566
851
+54.6%
+2.8%
Free cash flow
1,755
697
1,541
+151.8%
+13.9%
Free cash flow margin
26.3%
11.3%
24.4%
Cash from investing
-884
-597
-586
Cash from financing
-938
-1,166
-521
Depreciation and amortisation
723
696
692
+3.9%
+4.5%
Share-based compensation
22.0
28.0
27.0
-21.4%
-18.5%
Dividends paid
206
208
0.0
-1.0%
Dividend per share
$0.15
$0.15
n/a
0.0%
Diluted shares, weighted
1,388m
1,392m
1,400m
-0.3%
-0.9%
Shares outstanding at period end
1,370m
1,239m
1,167m
+10.5%
+17.3%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
12,968
13,031
10,007
-0.5%
+29.6%
Non-controlling interest
16.0
18.0
n/a
-11.1%
Debt
25,570
26,004
27,967
-1.7%
-8.6%
Operating lease liabilities
1,113
1,146
1,217
-2.9%
-8.5%
Other liabilities
12,561
11,368
11,974
+10.5%
+4.9%
Total liabilities and equity
52,228
51,567
51,165
+1.3%
+2.1%
Fixed assets
43,616
43,700
42,751
-0.2%
+2.0%
Goodwill
579
579
579
0.0%
0.0%
Intangible assets
1,181
1,181
1,178
0.0%
+0.3%
Cash and equivalents
2,243
1,424
2,146
+57.5%
+4.5%
Receivables
633
663
569
-4.5%
+11.2%
Inventory
552
510
476
+8.2%
+16.0%
Other assets
3,424
3,510
3,466
-2.5%
-1.2%
Total assets
52,228
51,567
51,165
+1.3%
+2.1%
Questions
What was Carnival's revenue in Q2 FY2026?
Carnival (CCL) reported revenue of $6.7 billion for Q2 FY2026, the quarter ended 31 May 2026, up 5.3% on the same quarter a year earlier.
How much did Carnival earn in Q2 FY2026?
Net income for Q2 FY2026 was $537 million, down 5.0% on the year, and diluted earnings per share $0.39.
When did Carnival report Q2 FY2026 results?
Carnival filed its 10-Q for the quarter ended 31 May 2026 with the SEC on 26 June 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 31 May 2026, filed 26 June 2026: the filing.