Carnival Q2 FY2026: record $6.663 billion revenue, adjusted EPS $0.41
Carnival's second quarter of FY2026 was a demand record with a fuel bill attached: revenue of $6.663 billion rose 5.3% and adjusted EPS of $0.41 rose over 15%, while GAAP operating income fell to $851 million and gross margin slipped to 36.6%. Read it as pricing power plus cost drag — net yields set a record, and $9.0 billion of customer deposits says bookings, not the quarter's profit, drive the story. View: Bullish.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $0.39, down from $0.42, while adjusted EPS was $0.41, up over 15% from $0.35. The gap is mostly non-core items, including $101 million of gains on ship sales and impairments in last year's quarter. The operating line is the honest one: operating income fell to $851 million from $934 million, with fuel expense of $595 million against $468 million a year ago.
Revenue of $6.663 billion was up 5.3% from $6.328 billion a year earlier, split into $4.273 billion of passenger ticket revenue and $2.390 billion of onboard and other revenue. Capacity barely moved, with 24.7 million ALBDs against 24.2 million, and occupancy held at 104.0%. The company calls it a second-quarter record, and onboard spending is doing real work in the mix.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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