Carnival Corporation (CCL) Q3 2026 Financial Results Summary
QuoteReporter
Carnival Corporation (CCL) Q3 2026: Record Revenues and Income — Strongly Positive
Carnival Corporation (NYSE: CCL) reported a remarkable third quarter for 2026, achieving all-time high revenues and net income. The company delivered net income of $1.9 billion, which represents an increase of $68 million or +3.7% compared to the same quarter last year. Adjusted net income reached $2.0 billion, maintaining the same level as the prior year despite challenges from rising fuel prices and currency fluctuations.
This quarter's performance is undoubtedly a positive outcome for shareholders, showcasing Carnival's ability to navigate external pressures while capitalizing on strong demand for cruise services. The results reflect effective cost management and a robust booking environment, which bodes well for future growth.
Key Financial Metrics
- Net Income: $1.9 billion, up $68 million or +3.7% YoY
- Adjusted Net Income: $2.0 billion, unchanged YoY
- Diluted EPS: $1.40; Adjusted EPS: $1.43, in line with prior year
- Adjusted EBITDA: $3.0 billion, consistent with last year’s historic high
- Gross Margin Yields: Down 1.3% YoY
- Net Yields (in constant currency): Up 2.4%, exceeding June guidance
- Customer Deposits: $7.6 billion, up nearly 7% YoY
Shareholder Returns and Guidance
Carnival has demonstrated a commitment to returning capital to shareholders, completing approximately $1.2 billion in share repurchases year-to-date, with nearly $800 million executed since the beginning of the third quarter. Additionally, the company distributed $204 million in dividends during the quarter, bringing the year-to-date total to $618 million.
Looking ahead, Carnival has raised its full-year outlook for adjusted net income by more than $150 million compared to previous guidance, indicating strong operational improvements despite a $150 million impact from increased fuel prices. For the fourth quarter of 2026, the company expects net yields (in constant currency) to increase by approximately 1.7% compared to record levels in 2025.
Forward Catalysts
Investors should closely monitor Carnival's booking trends and customer deposits, which are key indicators of future performance. The company has reported record levels of booked occupancy and pricing for 2027, suggesting a strong foundation for continued growth. Additionally, the successful launch of the Carnival Rewards loyalty program and the introduction of new ships are expected to enhance customer engagement and drive revenue.
In summary, Carnival Corporation's third-quarter results reflect a strong operational performance and a positive outlook for the future. The combination of record revenues, effective cost management, and a commitment to shareholder returns positions the company favorably as it navigates the evolving landscape of the cruise industry.
Note: All amounts in the following tables are in millions.
| 2026-08-31 | 2025-08-31 | 2026-05-31 | 2025-05-31 |
|---|---|---|---|
| $5,000 | $5,400 | $13,200 | $13,400 |
| $2,000 | $2,700 | $7,000 | $6,900 |
| $8,000 | $8,100 | $21,000 | $20,800 |
| $1,988 | $1,973 | $2,600 | $2,600 |
| $902 | $883 | $2,000 | $2,100 |
| $641 | $636 | $2,000 | $1,900 |
| $615 | $451 | $1,300 | $1,300 |
| $401 | $398 | $1,100 | $1,100 |
| $1,000 | $1,000 | $3,000 | $2,800 |
| $2,400 | $2,800 | $4,000 | $4,000 |
| $1,920 | $1,852 | $2,715 | $2,338 |
| $1.41 | $1.33 | $1.00 | $1.75 |
| 1,368 | 1,402 | 1,368 | 1,400 |
| 1,368 | 1,402 | 1,368 | 1,400 |
| August 31, 2026 | November 30, 2025 |
|---|---|
| $1,220 | $1,928 |
| $670 | $678 |
| $528 | $505 |
| $1,004 | $1,108 |
| $3,421 | $4,219 |
| $43,397 | $43,494 |
| $1,228 | $1,328 |
| $579 | $579 |
| $1,181 | $1,177 |
| $1,166 | $890 |
| $50,971 | $51,687 |
| $2,036 | $2,603 |
| $168 | $175 |
| $1,159 | $1,245 |
| $1,983 | $2,239 |
| $7,129 | $6,831 |
| $12,475 | $13,092 |
| $21,876 | $24,037 |
| $1,333 | $1,097 |
| $15 | $13 |
| $15,663 | $17,253 |
| $6,712 | $4,817 |
| $-1,714 | $-1,810 |
| $-6,488 | $-8,364 |
| $14,188 | $12,270 |
| $50,971 | $51,687 |
Disclaimer
The content on MarketsFN.com is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or trading guidance. All investments carry risk and past performance does not guarantee future results. You are solely responsible for your investment decisions and should conduct independent research and consult a qualified financial advisor before acting. MarketsFN.com and its authors are not liable for any losses or damages arising from the use of this information.
