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Carnival Corporation Ltd. (CCL) Q3 FY2026 Financial Statements: Revenue $8.44B, Net income $1.92B

CIK 0000815097 · NYSE · Latest period: Q3 FY2026 (ended 2026-08-31, 10-Q accession 0000815097-26-000107) · Annual report: FY2025 10-K (filed 2026-01-27, accession 0000815097-26-000007) · Next expected filing: 10-K ~2027-01-26

More for Carnival: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ3 FY2026

Published

Carnival Corporation Ltd. reported revenue of $8.44 billion for Q3 FY2026, the quarter ended August 31, 2026, up 3.5% from a year earlier, and net income attributable to Carnival of $1.92 billion, up 3.7%, or $1.40 per diluted share against $1.33. Operating income was $2.22 billion, down 2.2%, as fuel expense rose to $615 million from $451 million on higher fuel prices. Net income still grew because interest expense fell on lower debt and debt extinguishment costs were much smaller than a year earlier.

MetricAmountvs. year ago
Revenue$8,435,000,000up 3.5%
Net income$1,920,000,000up 3.7%
Diluted EPS$1.40up 5.3%
Operating income$2,220,000,000down 2.2%
Fuel expense$615,000,000up 36.4%

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerCCL
CIK0000815097
CompanyCarnival Corporation Ltd.
Business typecruise operator
Schema templatecruise operator: total revenues split into passenger ticket and onboard and other revenue; cruise and tour operating expenses (with fuel shown separately), selling and administrative expense, depreciation and amortization, operating income, interest, debt extinguishment costs, pre-tax income, net income and per-share amounts; balance sheet cash, property and equipment (mainly ships), customer deposits, debt and equity; operating cash flow, ship and other capital spending, free cash flow, debt repayments and issuance, dividends and share repurchases. Carnival does not report a cost of revenue or gross profit, so none is shown. Carnival is the largest global cruise company, operating AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn.
Reporting currencyUSD
Converted to USDno
Unitsactual US dollars (not millions); share counts in actual shares; per-share amounts in dollars per share. Operating expense lines are stored as positive amounts, as the income statement prints them; interest expense, debt extinguishment costs, other income (expense) and income tax keep the sign the filing prints (negative is an expense or loss). Cash flow lines keep the sign of the cash flow statement (outflows negative). Dividends and repurchases in shareholder_returns are reductions of equity and are negative.

CCL annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2024-12-012023-12-012022-12-01
Period end2025-11-302024-11-302023-11-30
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Income statement
Passenger ticket revenue17,419,000,00016,463,000,00014,067,000,000
Onboard and other revenue9,202,000,0008,558,000,0007,526,000,000
Total revenues26,622,000,00025,021,000,00021,593,000,000
Fuel expense1,808,000,0002,007,000,0002,047,000,000
Total cruise and tour operating expenses15,947,000,00015,638,000,00014,317,000,000
Selling and administrative expense3,402,000,0003,252,000,0002,950,000,000
Depreciation and amortization expense2,790,000,0002,557,000,0002,370,000,000
Operating income4,483,000,0003,574,000,0001,956,000,000
Interest income51,000,00093,000,000233,000,000
Interest expense net of capitalized interest-1,349,000,000-1,755,000,000-2,066,000,000
Debt extinguishment and modification costs-409,000,000-79,000,000-111,000,000
Other income expense net-4,000,00083,000,000-75,000,000
Income before income taxes2,772,000,0001,915,000,000-62,000,000
Income tax benefit expense net-12,000,0001,000,000-13,000,000
Net income2,760,000,0001,916,000,000-74,000,000
Basic EPS2.101.50-0.06
Diluted EPS2.021.44-0.06
Net income for diluted EPS2,831,000,0002,009,000,000-74,000,000
Weighted average basic shares1,312,000,0001,274,000,0001,262,000,000
Diluted shares1,402,000,0001,398,000,0001,262,000,000
Balance sheet
Cash and cash equivalents1,928,000,0001,210,000,000
Total current assets4,219,000,0003,378,000,000
Property and equipment net43,494,000,00041,795,000,000
Total assets51,687,000,00049,057,000,000
Current portion of long term debt2,603,000,0001,538,000,000
Customer deposits current6,831,000,0006,425,000,000
Total current liabilities13,092,000,00011,617,000,000
Long term debt24,037,000,00025,936,000,000
Total debt26,640,000,00027,475,000,000
Total shareholders equity12,284,000,0009,251,000,000
Cash flow
Operating cash flow6,218,000,0005,923,000,0004,281,000,000
Purchases of property and equipment-3,611,000,000-4,626,000,000-3,284,000,000
Proceeds from sales of ships and other property and equipment323,000,00058,000,000340,000,000
Net cash used in investing activities-3,321,000,000-4,535,000,000-2,810,000,000
Repayments of long term debt-12,936,000,000-5,436,000,000-7,660,000,000
Proceeds from issuance of long term debt11,152,000,0003,095,000,0002,961,000,000
Net cash used in financing activities-2,189,000,000-2,584,000,000-5,089,000,000
Free cash flow2,607,000,0001,297,000,000997,000,000

CCL quarterly income statement, balance sheet and cash flow

Q3 FY2026Q3 FY2025
Fiscal quarter33
Period start2026-06-012025-06-01
Period end2026-08-312025-08-31
Period typethree monthsthree months
Source accession10-Q10-Q
Cash flow source accession0000815097-26-0001040000815097-26-000104
Income statement
Passenger ticket revenue5,529,000,0005,430,000,000
Onboard and other revenue2,906,000,0002,723,000,000
Total revenues8,435,000,0008,153,000,000
Fuel expense615,000,000451,000,000
Total cruise and tour operating expenses4,628,000,0004,385,000,000
Selling and administrative expense834,000,000779,000,000
Depreciation and amortization expense754,000,000717,000,000
Operating income2,220,000,0002,271,000,000
Interest income17,000,00015,000,000
Interest expense net of capitalized interest-285,000,000-317,000,000
Debt extinguishment and modification costs-23,000,000-111,000,000
Other income expense net10,000,0000
Income before income taxes1,939,000,0001,860,000,000
Income tax benefit expense net-16,000,000-6,000,000
Net income1,923,000,0001,854,000,000
Net income attributable to noncontrolling interests3,000,0002,000,000
Net income attributable to carnival corporation ltd1,920,000,0001,852,000,000
Basic EPS1.411.41
Diluted EPS1.401.33
Net income for diluted EPS1,920,000,0001,870,000,000
Weighted average basic shares1,363,000,0001,313,000,000
Diluted shares1,368,000,0001,402,000,000
Balance sheet
Cash and cash equivalents1,220,000,000
Total current assets3,421,000,000
Property and equipment net43,397,000,000
Total assets50,971,000,000
Current portion of long term debt2,036,000,000
Customer deposits current7,129,000,000
Total current liabilities12,475,000,000
Long term debt21,876,000,000
Total debt23,912,000,000
Shareholders equity attributable to carnival corporation ltd14,188,000,000
Noncontrolling interests19,000,000
Total shareholders equity14,207,000,000
Cash flow
Operating cash flow1,410,000,0001,383,000,000
Purchases of property and equipment-698,000,000-648,000,000
Dividends paid-204,000,0000
Free cash flow712,000,000735,000,000
Shareholder returns
Cash dividends declared-204,000,000
Share repurchases recorded in equity-549,000,000
Cash dividends declared per share0.15

CCL year-to-date income statement and cash flow

Nine months FY2026Nine months FY2025
Period start2025-12-012024-12-01
Period end2026-08-312025-08-31
Period typenine monthsnine months
Source accession10-Q10-Q
Income statement
Passenger ticket revenue13,825,000,00013,366,000,000
Onboard and other revenue7,438,000,0006,925,000,000
Total revenues21,263,000,00020,292,000,000
Fuel expense1,607,000,0001,384,000,000
Total cruise and tour operating expenses12,792,000,00012,037,000,000
Selling and administrative expense2,621,000,0002,442,000,000
Depreciation and amortization expense2,172,000,0002,064,000,000
Operating income3,678,000,0003,748,000,000
Interest income41,000,00034,000,000
Interest expense net of capitalized interest-862,000,000-1,034,000,000
Debt extinguishment and modification costs-23,000,000-366,000,000
Other income expense net-60,000,000-4,000,000
Income before income taxes2,774,000,0002,377,000,000
Income tax benefit expense net-50,000,000-30,000,000
Net income2,725,000,0002,348,000,000
Net income attributable to noncontrolling interests9,000,00010,000,000
Net income attributable to carnival corporation ltd2,715,000,0002,338,000,000
Basic EPS1.971.78
Diluted EPS1.961.71
Net income for diluted EPS2,716,000,0002,391,000,000
Weighted average basic shares1,375,000,0001,311,000,000
Diluted shares1,382,000,0001,401,000,000
Cash flow
Operating cash flow5,303,000,0004,700,000,000
Purchases of property and equipment-2,139,000,000-2,105,000,000
Proceeds from sales of ships and other property and equipment3,000,000312,000,000
Net cash used in investing activities-2,183,000,000-1,815,000,000
Repayments of long term debt-2,186,000,000-10,676,000,000
Proceeds from issuance of long term debt08,618,000,000
Dividends paid-618,000,0000
Share repurchases-929,000,0000
Net cash used in financing activities-3,832,000,000-2,355,000,000
Free cash flow3,164,000,0002,595,000,000
Shareholder returns
Cash dividends declared-618,000,000
Share repurchases recorded in equity-939,000,000
Cash dividends declared per share0.45

CCL trailing twelve month income statement and cash flow

Twelve months ended August 31, 2026
Period start2025-09-01
Period end2026-08-31
Period typetrailing twelve months
Derivedyes
Source accession10-K, 10-Q
Income statement
Passenger ticket revenue17,878,000,000
Onboard and other revenue9,715,000,000
Total revenues27,593,000,000
Fuel expense2,031,000,000
Total cruise and tour operating expenses16,702,000,000
Selling and administrative expense3,581,000,000
Depreciation and amortization expense2,898,000,000
Operating income4,413,000,000
Interest expense net of capitalized interest-1,177,000,000
Income before income taxes3,169,000,000
Net income3,137,000,000
Cash flow
Operating cash flow6,821,000,000
Purchases of property and equipment-3,645,000,000
Free cash flow3,176,000,000
  • Derivation. FY2025 (year ended November 30, 2025) plus the nine months ended August 31, 2026, less the nine months ended August 31, 2025.

Adjustments

Splits appliednone
ADR ration/a
FXNone. Carnival reports in U.S. dollars.
Per share basisPer-share amounts are per Carnival common share as the filings state them. No stock split falls inside the periods shown, and no ADS ratio applies: CCL trades as common shares on the NYSE. For earnings per share in FY2023 to FY2025, the 10-K treats Carnival Corporation common stock and Carnival plc ordinary shares as a single class, since they had equivalent rights.

Notes

  • Periods: the FY2025 Form 10-K (accession 0000815097-26-000007) supplies fiscal years 2025, 2024 and 2023 (income statement and cash flow), and balance sheets at November 30, 2025 and 2024. The Q3 FY2026 Form 10-Q (accession 0000815097-26-000107) supplies the three months ended August 31, 2026 and 2025, the nine months ended on those dates, and the balance sheet at August 31, 2026. Carnival's fiscal year ends November 30, so the third quarter runs June 1 to August 31.
  • Corporate structure: the FY2025 10-K was the joint annual report of Carnival Corporation & plc, a dual listed company. In May 2026 Carnival completed the unification of that structure into a single company, Carnival Corporation Ltd., listed only on the New York Stock Exchange; Carnival plc shareholders received Carnival Corporation Ltd. shares one-for-one, and the company moved its incorporation from Panama to Bermuda. The 10-Q states there were no material changes to the business, strategy, underlying assets or operations as a result.
  • Noncontrolling interests: beginning with the 10-Q, Carnival presents amounts attributable to noncontrolling interests separately (mainly the subsidiaries operating Isla Tropicale and Amber Cove) and reclassified 2025 comparatives to match. The 10-K did not present them separately because they were immaterial. So net_income in the annual periods is the 10-K's net income, while the 10-Q periods also carry net income attributable to noncontrolling interests and to Carnival Corporation Ltd. Before the 10-Q's reclassification, Carnival deducted the noncontrolling interests' share within 'Other income (expense), net', so the FY2025, FY2024 and FY2023 net_income and other_income_expense_net taken from the 10-K are stated after that share and correspond to the 10-Q's 'Net Income attributable to Carnival Corporation Ltd.', not to its total Net Income. For example, for the nine months ended August 31, 2025 the Q3 FY2025 earnings release (accession 0000815097-25-000082) printed other income (expense), net of $(14) million, income before income taxes of $2,368 million and net income of $2,338 million; the 10-Q (accession 0000815097-26-000107) re-presents these as $(4) million, $2,377 million, total net income of $2,348 million and net income attributable to Carnival Corporation Ltd. of $2,338 million. At November 30, 2025, the 10-Q re-presents the 10-K's total shareholders' equity of $12,284 million as $12,270 million attributable to Carnival plus $14 million of noncontrolling interests (additional paid-in capital $17,253 million against $17,267 million in the 10-K). The total is unchanged, and the FY2025 balance sheet here follows the 10-K.
  • Diluted earnings per share uses its own numerator (net_income_for_diluted_eps), which adds back interest expense on dilutive convertible notes: $71 million in FY2025, $94 million in FY2024, $18 million in Q3 FY2025 and $53 million in the first nine months of FY2025. In FY2023 the company had a net loss and the convertible notes were antidilutive, so basic and diluted loss per share were both $(0.06).
  • Total debt is the debt note's 'Total Debt, net of unamortized debt issuance costs and discounts', which equals the current portion plus long-term debt on the balance sheet: $23,912 million at August 31, 2026, $26,640 million at November 30, 2025 and $27,475 million at November 30, 2024. Before unamortized issuance costs and discounts, principal was $24,559 million, $27,383 million and $28,213 million respectively.
  • Three-month cash flow: the 10-Q prints its cash flow statement for the nine months only. Operating cash flow, capital expenditures and dividends paid for the quarters ended August 31, 2026 and 2025 come from the Q3 FY2026 earnings release furnished on Form 8-K (accession 0000815097-26-000104), and each quarter records that accession as cash_flow_source_accession. The release prints capital expenditures and dividends paid as positive amounts; they are stored here as outflows to match the cash flow statement. The quarterly operating cash flow agrees with the nine-month figure less the six-month figure in the Q2 FY2026 earnings release (accession 0000815097-26-000086): $5,303 million less $3,893 million is $1,410 million, and $4,700 million less $3,317 million is $1,383 million.
  • Free cash flow is not a figure the filings print. It is computed here as net cash provided by operating activities less purchases of property and equipment, in every period.
  • The trailing twelve months ended August 31, 2026 is derived: FY2025 plus the nine months ended August 31, 2026, less the nine months ended August 31, 2025. Its net income of $3,137 million is on the attributable-to-Carnival basis: $2,760 million for FY2025 plus $2,715 million less $2,338 million of net income attributable to Carnival Corporation Ltd. for the two nine-month periods; on total net income the nine-month difference ($2,725 million less $2,348 million) is the same $377 million. Its income before income taxes combines the 10-K's former presentation for FY2025 with the 10-Q's reclassified presentation for the nine-month periods; the difference is the noncontrolling interests' share, which the former presentation deducted within other income (expense), net, and which the filings do not print for the full year; for the nine months ended August 31, 2025 the 10-Q prints that share as $10 million, and pre-tax income differs by $9 million after rounding ($2,368 million in the Q3 FY2025 earnings release against $2,377 million in the 10-Q). Per-share amounts are not derived for it, since earnings per share does not add across periods.
  • Shareholder returns: in fiscal 2026 Carnival paid cash dividends of $0.15 per share in the third quarter ($204 million) and $0.45 per share over the first nine months ($618 million), per the 10-Q's statements of shareholders' equity. That statement records share repurchases of $549 million in the quarter and $939 million over nine months; the cash flow statement shows $929 million paid for share repurchases over the nine months. The nine months ended August 31, 2025 show no dividends paid and no share repurchases.
  • Depreciation: in December 2025 Carnival extended its ships' depreciable lives to 35 years and revised their residual values, applied prospectively from December 1, 2025. The 10-Q states the revision did not have a material impact on its financial statements.
  • Customer deposits on the balance sheet are the current portion only. Including the long-term portion, the 10-Q reports total customer deposits of $7.6 billion at August 31, 2026 and $7.2 billion at November 30, 2025.
  • The November 30, 2025 balance sheet column printed in the 10-Q matches the 10-K's for every figure carried here (cash, current assets, property and equipment, total assets, debt, customer deposits, current liabilities and total equity).

Uncertainties

  • The quarterly operating cash flow, capital expenditures, dividends paid and free cash flow for Q3 FY2026 and Q3 FY2025 come from the earnings release, not the 10-Q, which prints cash flow for the nine months only. Other three-month cash flow lines (investing and financing totals, debt repayments) are not available from these filings and are left out.
  • No balance sheet is shown for August 31, 2025, and none for November 30, 2023, because neither filing prints one.
  • The difference between share repurchases recorded in equity ($939 million) and cash paid for repurchases ($929 million) over the nine months ended August 31, 2026 is not explained in the statements; it may reflect repurchases not yet settled at period end.

Company details

NameCarnival Corp Ltd.
TickerCCL
CIK0000815097
ExchangeNYSE
StateFlorida
IncorporationBermuda
SIC4400
OfficeEnergy & Transportation
IndustryWater Transportation

Fiscal period

Fiscal year2026
Fiscal periodQ3
TagFY26Q3
Period end2026-08-31
Form10-Q
Accession0000815097-26-000107
Fiscal year end1130
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-11-302026-01-270000815097-26-000007reported
quarterlyyes10-Q2026Q3FY26Q32026-08-312026-09-290000815097-26-000107facts

FAQ · Carnival financial statements

How much revenue did Carnival make in Q3 FY2026?

Carnival Corporation Ltd. reported total revenues of $8.44 billion for Q3 FY2026, the three months ended August 31, 2026. That is up 3.5% from $8.15 billion in the same quarter a year earlier.

What were Carnival's net income and earnings per share in Q3 FY2026?

Carnival Corporation Ltd. reported net income attributable to Carnival of $1.92 billion for Q3 FY2026, against $1.85 billion a year earlier. Diluted earnings per share were $1.40, compared with $1.33.

Why did Carnival's operating income fall in Q3 FY2026?

Carnival's operating income was $2.22 billion in Q3 FY2026, down 2.2% from $2.27 billion a year earlier, even though revenue grew. Fuel expense rose to $615 million from $451 million as fuel prices climbed, the largest of the cost increases, and selling, administrative and depreciation costs also rose.

Why did Carnival's net income rise when operating income fell?

Carnival's net income attributable to Carnival rose to $1.92 billion in Q3 FY2026 while operating income slipped to $2.22 billion, because interest expense fell on lower debt and debt extinguishment costs were much smaller than in the same quarter a year earlier.

Where can I get Carnival Corporation Ltd. (CCL) financial data in machine-readable form?

Ticker Scout publishes Carnival Corporation Ltd.'s financial statements as JSON at https://tickerscout.ai/ccl/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/ccl/narrative.md and https://tickerscout.ai/ccl/events.md. Carnival Corporation Ltd.'s SEC CIK is 0000815097. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Carnival Corporation Ltd. (CCL) next file with the SEC?

Carnival Corporation Ltd. (CCL) is expected to file its next Form 10-K with the SEC on or around January 26, 2027. That date is a projection rather than a company-announced date: it is derived from Carnival Corporation Ltd.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q3 FY2026, the period ended 2026-08-31, SEC accession 0000815097-26-000107.

How this page was built

This page was built from five of Carnival Corporation Ltd.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names three such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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Built from Carnival Corporation Ltd.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.