Carnival Corporation & plc · CCL · Next earnings

Carnival Corporation & plc reports Tuesday, Sep 29, 2026

CCL reports before market open with consensus EPS at $1.36 and revenue at $8.40B. Last quarter: Carnival Q2 2026: Record Yields and Earnings Offset by Geopolitical Yield Cut

Reports Before market open9 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $1.36 Calendar consensus
Consensus revenue $8.40B Calendar consensus
Report date Sep 29, 2026 Tuesday, date estimated
Session Before market open 9 days away

Where CCL left off: FY2026 Q2

Full report

Carnival Q2 2026: Record Yields and Earnings Offset by Geopolitical Yield Cut

EPS surprise +19.1% Reported $0.41 vs $0.34
Revenue surprise -0.4% Reported $6.66B vs $6.69B
Stock move -4.9% Event window
Subsequent drift -9.1% Up to 20 sessions

Full-year guidance was raised overall, reflecting strong second-half expectations. However, yield growth guidance was reduced by 100 basis points due to geopolitical volatility in the Middle East affecting European itineraries. Management characterized the impact as transitory and expects a reversal in the second half. Cost guidance outperformed by 2.5 points with flat cruise costs ex-fuel. Guidance sentiment is raised with management tone described as confident.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Prolonged geopolitical volatility, especially Middle East conflict affecting European itineraries.
  • Fuel price volatility and higher crew travel and freight costs.
  • Elevated airfares and reduced international flight capacity for North American guests.
  • Potential occupancy headwinds in the back half of the year.
  • Demand sensitivity to broader macroeconomic conditions.

Questions analysts left open

  • Shape of yield growth for Q4 and the full year.
  • Impact of the loyalty program on 2027 guidance.
  • Occupancy assumptions for European deployments.
  • Extent to which cost savings are structural versus temporary.
  • Potential continuation of Middle East conflict headwinds.

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Recent CCL quarters

All CCL earnings
-4.9%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.