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Get filing alertsCarnival reports record Q2 revenues of $6.7B, adjusted net income up 20%+
Filed June 23, 2026 · Period ending June 23, 2026 · ~1 min read
Key Changes
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high
Q2 2026 net income $537M, adjusted net income $569M (up >20% YoY) despite 30% higher fuel costs; revenues hit record $6.7B with record net yields in constant currency, exceeding March guidance by $100M.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
high
Repurchased over $450M of stock under current buyback program, enabled by strong cash flow growth; customer deposits reached all-time high of $9.0B, up $450M+ YoY.
Exhibit 99.1 view on EDGAR → -
high
Full-year 2026 guidance: net yields up ~3.2% vs. record 2025 (~1.75% constant currency), adjusted EPS ~$2.22; guidance reflects geopolitical headwinds from Middle East conflict moderating European bookings, though recent trends suggest reversal.
Exhibit 99.1 view on EDGAR → -
medium
Moody's upgraded credit rating with positive outlook; net debt to adjusted EBITDA improved to 3.1x (down >0.5 points YoY), demonstrating continued deleveraging progress.
Exhibit 99.1 view on EDGAR → -
medium
Completed unification of dual-listed structure under single corporate entity and shifted legal incorporation to Bermuda, streamlining corporate organization.
Exhibit 99.1 view on EDGAR →
Summary
Carnival delivered record second-quarter 2026 results with revenues of $6.7 billion and adjusted net income of $569 million, up over 20% year-over-year despite facing nearly 30% higher fuel costs and geopolitical headwinds from the Middle East conflict.
The company exceeded its March guidance by $100 million through commercial execution and cost efficiency, while customer deposits reached an all-time high of $9.0 billion. Strong cash flow enabled the company to repurchase over $450 million of stock under its current buyback program, demonstrating management's confidence in the business trajectory.
The company's improved financial performance earned a credit rating upgrade from Moody's with a continued positive outlook, while net debt to adjusted EBITDA improved to 3.1x, down more than half a point from a year ago. While geopolitical tensions initially moderated booking trends for European deployments, particularly in the Mediterranean, recent booking patterns suggest these headwinds are beginning to reverse. The company also completed the unification of its dual-listed structure under a single Bermuda-incorporated entity, streamlining its corporate organization.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Item 2.02 — Results of Operations and Financial Condition filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 23, 2026, Carnival Corporation Ltd. (“Carnival Corporation”) issued a press release entitled “CARNIVAL CORPORATION DELIVERS RECORD SECOND QUARTER REVENUES, NET YIELDS AND ADJUSTED NET INCOME.”
Carnival disclosed record second quarter financial results. The press release title indicates the company achieved record revenues, net yields (revenue per available berth day), and adjusted net income for Q2 2026. The actual financial figures are contained in the press release exhibit, which is not included in this 8-K body.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Net income1 of $537 million with record adjusted net income2,3 of $569 million, up over 20 percent compared to the prior year. ... Record revenues3 of $6.7 billion with record net yields2,3 (in constant currency), demonstrating continued demand strength. ... Reached all-time high customer deposits of $9.0 billion, up over $450 million compared to the prior year record.
Carnival delivered record second-quarter 2026 results with net income of $537 million and adjusted net income of $569 million, representing over 20% growth year-over-year despite nearly 30% higher fuel costs and geopolitical headwinds. Revenues reached a record $6.7 billion with record net yields in constant currency, and customer deposits hit an all-time high of $9.0 billion, up over $450 million from the prior year. The company exceeded its March guidance by $100 million through commercial execution and cost efficiency efforts.
Added in current filing · view on EDGAR →
Our strong cash flow growth enabled us to launch our current share buyback program, repurchasing over $450 million of stock to date, reinforcing our commitment to accelerate shareholder returns.
Carnival has repurchased over $450 million of stock under its current buyback program, demonstrating accelerated shareholder returns enabled by strong cash flow growth. This capital allocation decision reflects management's confidence in the business and commitment to returning value to shareholders while continuing to invest in the fleet and strengthen the balance sheet.
Added in current filing · view on EDGAR →
The continued momentum of our financial performance was recognized by Moody's with a credit rating upgrade and a continued positive outlook
Moody's upgraded Carnival's credit rating with a continued positive outlook, recognizing the company's improved financial performance. The company also achieved a net debt to adjusted EBITDA ratio of 3.1x, representing more than half a point improvement from one year ago, demonstrating continued deleveraging progress.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify