Here are the 10-Q quarterly reports from Carnival Corporation Ltd. (CCL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CCL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CCL filings page.
Carnival Corporation Ltd. reported third-quarter revenue of $8.435 billion and net income attributable to the company of $1.920 billion for the three months ended August 31, 2026, versus $8.153 billion and $1.852 billion a year earlier. Diluted EPS was $1.40, versus $1.33. For the nine months, revenue was $21.263 billion and attributable net income was $2.715 billion, compared with $20.292 billion and $2.338 billion.
Nine-month operating cash flow was $5.303 billion, compared with $4.700 billion. As of August 31, cash and equivalents were $1.220 billion and total debt was $24.559 billion. Carnival reported $5.7 billion of liquidity, including $1.2 billion of cash and $4.5 billion available under its revolving facility; another $10.7 billion of export credit facilities was undrawn for planned ship deliveries. It said it was in compliance with applicable debt covenants.
During the quarter, Carnival repurchased 20.3 million shares at an average $27.03 per share, with $1.562 billion remaining under its $2.5 billion repurchase program as of August 31. Dividends paid in the nine months totaled $618 million. Carnival completed its dual-listed-company unification in May 2026, with Carnival plc shareholders receiving Carnival Corporation Ltd. shares one-for-one; it reported no material business changes following the unification and redomiciliation.
Carnival Corporation Ltd. reported quarterly revenue of $6.7 billion, up from $6.3 billion a year earlier, driven by higher ticket prices, onboard spending and a 2.0% increase in capacity. Net income attributable to the company was $537 million, compared with $565 million, as higher fuel costs and the nonrecurrence of prior-year ship sale gains offset revenue growth.
For the first six months, revenue rose to $12.8 billion from $12.1 billion, with net income improving to $795 million from $486 million, helped by lower interest expense as total debt fell to $24.9 billion net of costs. Customer deposits increased to $9.0 billion, reflecting strong booking activity. The company completed its dual-listed company unification and redomiciled to Bermuda, and it initiated a $2.5 billion share repurchase program, buying 15.1 million shares in the quarter.
Carnival Corporation & plc returned to profitability for the quarter ended February 28, 2026, posting net income attributable to the company of $258 million, compared with a net loss of $78 million a year earlier, or diluted earnings per share of $0.19 versus $(0.06). Total revenues rose to $6.165 billion from $5.810 billion, driven by 5.0% higher passenger ticket revenue and an 8.3% increase in onboard and other revenue, helped by stronger pricing, higher onboard spending and favorable foreign currency.
Operating income improved to $607 million from $543 million, while net interest expense fell as interest expense, net of capitalized interest, declined to $291 million from $377 million on lower average rates and reduced total debt. Operating cash flow strengthened to $1.263 billion from $0.925 billion, supporting $566 million of capital expenditures largely for ship and destination investments and $945 million of debt repayments, reducing total debt to $26.004 billion.
The company ended the quarter with liquidity of $5.9 billion, including $1.4 billion of cash and $4.5 billion available under its revolving facility, plus $10.9 billion of undrawn export credit facilities for ship deliveries. It paid a cash dividend of $0.15 per share, totaling $208 million, and in March 2026 authorized a share repurchase program of up to $2.5 billion, to begin after shareholder meetings expected on April 17, 2026. Management highlights ongoing risks from fuel costs, foreign exchange, greenhouse gas regulation including the EU Emissions Trading System, high leverage and pending litigation, but states current debt covenants are in compliance.
Carnival Corporation & plc reported stronger operating results through August 31, 2025, driven by higher ticket prices and onboard spending despite seasonal capacity shifts and rising regulatory costs. Consolidated passenger ticket revenues rose to $13.4 billion for the nine months, up 6.0%, and onboard and other revenues increased 7.0% to $6.9 billion. Consolidated operating income increased to $3.7 billion, up $735 million year-over-year. Interest expense declined materially as total debt and average rates fell. The company prepaid $9.6 billion of higher-cost debt but recorded $366 million of debt extinguishment and modification costs. Customer deposits were $7.1 billion and available revolving credit was $4.5 billion. Management flagged increased greenhouse gas regulation costs and fuel volatility as material risks.