Carnival (CCL) Q2 Net Income Halves to $150 Million

Carnival Corporation & Plc (CCL) announced a sharp decline in its fiscal second-quarter net income for the period ending May 31, 2026, falling short of market forecasts. The cruise line reported net income of $150 million, or $0.15 per share, a 50% decrease from $300 million, or $0.30 per share, recorded in the prior year's comparable quarter. Despite a 5% year-over-year increase in total revenue to $5.5 billion, driven by strong booking volumes and higher ticket prices, the company attributed the income drop primarily to escalating fuel expenses and increased operational costs. Analysts had anticipated Q2 earnings per share closer to $0.22 on revenues of $5.45 billion. Carnival's adjusted EBITDA for the quarter also decreased by 18% to $850 million. Management reiterated its full-year 2026 adjusted net income guidance of $1.2 billion to $1.4 billion, while acknowledging ongoing cost pressures and a competitive pricing environment.