Carnival (NYSE:CCL) Issues Q2 2026 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCL. William Blair restated an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. Wolfe Research restated an “outperform” rating on shares of Carnival in a research note on Friday, December 19th. Weiss Ratings upgraded shares of Carnival from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 30th. Stifel Nicolaus reduced their price target on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

Carnival Trading Down 0.6%

NYSE CCL opened at $27.88 on Friday. Carnival has a 12 month low of $17.05 and a 12 month high of $34.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.30 and a quick ratio of 0.26. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. The company’s fifty day moving average price is $28.46 and its two-hundred day moving average price is $28.52.

Carnival (NYSE:CCL) last released its earnings results on Friday, March 27th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same quarter last year, the business posted $0.13 EPS. Carnival’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Carnival will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director owned 52,601 shares of the company’s stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Trending Headlines about Carnival

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Geopolitical ceasefire and collapsing oil prices drove a broad travel-stock rally, boosting Carnival on hopes of lower fuel costs and improved consumer travel demand. Why Is Carnival (CCL) Stock Soaring Today
• Positive Sentiment: Coverage from market outlets and analysts (e.g., Barron’s) notes the ceasefire is only one driver and highlights structural positives for Carnival — demand recovery and record adjusted EBITDA noted in recent quarterly reporting. Carnival Is Today’s Top S&P 500 Stock
• Neutral Sentiment: Technical/short-term commentary: some analysts and technical pieces flag that the rally may be approaching resistance (near the 50-day moving average) and could stall, so momentum should be monitored. Stock Of The Day: Is The Carnival Corp. Rally Over?
• Neutral Sentiment: Value/longer-term takes: analysts and articles are debating whether recent gains have restored value — useful for longer-term investors weighing CCL’s volatility and multi-year returns. Is Carnival (CCL) Offering Value After Recent Share Price Recovery?
• Negative Sentiment: Carnival trimmed its own guidance: Q2 2026 EPS guidance of 0.34 vs. consensus ~0.41, and FY2026 guidance of 2.21 vs. consensus ~2.38 — these downward revisions are a direct negative for near-term expectations.
• Negative Sentiment: Zacks Research issued multiple model changes (released 4/9): they cut FY2026 and FY2028 EPS forecasts and reduced several quarterly estimates (Q3 2026, Q3 2027, Q4 2026, Q1 2028), while raising a couple of quarter forecasts (Q2 2027, Q4 2027). Zacks maintains a “Hold” rating — the net effect is a modest negative on consensus expectations and investor sentiment.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Compound Planning Inc. lifted its position in shares of Carnival by 3.2% in the 4th quarter. Compound Planning Inc. now owns 24,680 shares of the company’s stock worth $754,000 after buying an additional 766 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Carnival by 27.5% in the 4th quarter. Invesco Ltd. now owns 13,922,516 shares of the company’s stock worth $425,194,000 after purchasing an additional 3,005,752 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Carnival by 219.2% in the 4th quarter. Corient Private Wealth LLC now owns 713,436 shares of the company’s stock worth $21,788,000 after purchasing an additional 489,959 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in shares of Carnival by 39.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 22,097 shares of the company’s stock worth $675,000 after purchasing an additional 6,223 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Carnival by 4.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 412,904 shares of the company’s stock worth $12,395,000 after purchasing an additional 17,880 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors.

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.