Carnival (NYSE:CCL) Releases Q2 2026 Earnings Guidance
by Doug Wharley · The Cerbat GemCarnival (NYSE:CCL – Get Free Report) issued an update on its second quarter 2026 earnings guidance on Thursday morning. 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.
Carnival Price Performance
NYSE:CCL traded down $0.01 during trading hours on Thursday, reaching $28.03. 16,435,492 shares of the company were exchanged, compared to its average volume of 24,687,762. The company has a market capitalization 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. Carnival has a 1-year low of $17.05 and a 1-year 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 business has a 50 day moving average of $28.52 and a 200 day moving average of $28.52.
Carnival (NYSE:CCL – Get Free Report) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. Research analysts forecast that Carnival will post 1.77 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on Carnival from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Bank of America raised their target price on Carnival from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Truist Financial reduced their target price on Carnival from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. UBS Group lifted their price target on Carnival from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Argus restated a “buy” rating and issued a $35.00 target price on shares of Carnival in a research note on Monday, December 22nd. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.17.
Read Our Latest Stock Analysis on CCL
Insider Activity
In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total value of $313,965.72. Following the sale, the director directly owned 52,601 shares in the company, valued at $1,377,620.19. The trade was a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.90% of the stock is currently owned by insiders.
Key Headlines Impacting 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 Investors Weigh In On Carnival
A number of hedge funds and other institutional investors have recently bought and sold shares of CCL. Viking Global Investors LP bought a new stake in Carnival during the 4th quarter valued at $429,448,000. Wellington Management Group LLP raised its holdings in Carnival by 99.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,159,619 shares of the company’s stock valued at $351,535,000 after acquiring an additional 6,066,336 shares during the period. Victory Capital Management Inc. grew its position in shares of Carnival by 1,619.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,132,270 shares of the company’s stock valued at $156,740,000 after purchasing an additional 4,833,723 shares in the last quarter. Invesco Ltd. grew its position in shares of Carnival by 27.5% during the 4th 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 in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Carnival during the 4th quarter valued at $77,733,000. 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.