Carnival (NYSE:CCL) Releases Q2 2026 Earnings Guidance

Carnival (NYSE:CCL) issued an update on its second quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.340-0.340 for the period, compared to the consensus estimate of 0.410. The company issued revenue guidance of -. Carnival also updated its FY 2026 guidance to 2.210-2.21 EPS.

Carnival Price Performance

CCL stock traded down $0.01 during trading hours on Thursday, hitting $28.03. 16,435,492 shares of the stock traded hands, compared to its average volume of 24,687,762. The stock has a 50-day simple moving average of $28.52 and a 200 day simple moving average of $28.52. Carnival has a one year low of $17.05 and a one year high of $34.03. The company has a market cap of $34.72 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.11 and a beta of 2.48. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.82.

Carnival (NYSE:CCL) last announced its earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.13 billion. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Carnival will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

CCL has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on Carnival from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. HSBC raised Carnival from a “hold” rating to a “buy” rating and lowered their target price for the company from $33.60 to $30.10 in a report on Monday, March 30th. The Goldman Sachs Group lowered their target price on Carnival from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. William Blair reiterated an “outperform” rating on shares of Carnival in a research report on Tuesday, March 3rd. Finally, Barclays reduced their price objective on Carnival from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.17.

Insider Activity at Carnival

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.90% of the stock is currently owned by company insiders.

Trending Headlines about Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Geopolitical relief and oil drop triggered a broad travel rally, boosting Carnival as fuel-cost concerns eased and demand optimism returned. Why Is Carnival (CCL) Stock Soaring Today
• Positive Sentiment: Coverage and sector commentary (Barron’s, Motley Fool, etc.) highlighted operational strengths and the potential for durable demand if fuel costs remain lower, supporting investor sentiment. Carnival Is Today’s Top S&P 500 Stock
• Neutral Sentiment: Some analysts remain constructive: Citi cut its price target to $35 but maintained a Buy rating after Q1 results, reflecting mixed views (record adjusted EBITDA vs. trimmed guidance). Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Surged Today
• Negative Sentiment: Carnival cut its Q2 2026 EPS outlook to 0.340 (vs. ~0.41 consensus), signaling weaker near‑term profit expectations and raising downside risk to the stock from lower-than-expected earnings.
• Negative Sentiment: The company also trimmed FY‑2026 EPS guidance to 2.21 (vs. ~2.38 consensus), which could weigh on investor earnings revisions and valuation multiples until the gap narrows.
• Negative Sentiment: Carnival is exposed to volatile fuel prices and does not hedge fuel to the same degree as some peers; persistent energy price spikes can quickly compress margins and offset the recent rally. Carnival Fuel Costs Test Profit Gains And 2026 Cruise Demand Strength

Institutional Trading of Carnival

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in Carnival by 1.5% during the fourth quarter. State Street Corp now owns 48,074,173 shares of the company’s stock worth $1,468,185,000 after buying an additional 704,433 shares during the last quarter. Morgan Stanley grew its position in shares of Carnival by 8.3% in the fourth quarter. Morgan Stanley now owns 15,449,058 shares of the company’s stock valued at $471,814,000 after purchasing an additional 1,184,763 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Carnival by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,069,144 shares of the company’s stock valued at $460,235,000 after purchasing an additional 559,128 shares during the last quarter. Viking Global Investors LP acquired a new position in shares of Carnival in the fourth quarter valued at approximately $429,448,000. Finally, Invesco Ltd. grew its position in shares of Carnival by 27.5% in the fourth quarter. Invesco Ltd. now owns 13,922,516 shares of the company’s stock valued at $425,194,000 after purchasing an additional 3,005,752 shares during the last quarter. Institutional investors own 67.19% of the company’s stock.

About Carnival

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.