Carnival Corporation Reports $6.165 Billion Revenue and $258 Million Net Income for February 2026 Quarter

Carnival Corporation & plc reported a significant improvement in its financial performance for the three months ended February 28, 2026, with total revenues reaching $6.165 billion, a 6.1% increase from $5.810 billion in the same period of the previous year. The company's net income attributable to Carnival Corporation & plc was $258 million, compared to a net loss of $78 million in the prior year. This resulted in earnings per share of $0.19, a notable recovery from a loss of $0.06 per share in the previous year.

The increase in revenue was primarily driven by a 5.0% rise in passenger ticket revenues, which amounted to $4.023 billion, up from $3.832 billion. Onboard and other revenues also saw an increase of 8.3%, totaling $2.142 billion, attributed to higher guest spending and favorable foreign currency translations. The North America segment contributed $4.019 billion in total revenues, while the Europe segment generated $2.069 billion, reflecting a 12% increase in passenger ticket revenues in Europe due to improved occupancy rates and higher ticket prices.

Operationally, Carnival reported a slight increase in passenger counts, with 3.1 million passengers carried during the quarter, down from 3.2 million in the previous year. The company maintained an occupancy rate of 103%, consistent with the prior year. The total available lower berth days (ALBDs) increased by 0.5%, indicating a slight expansion in capacity. However, the company faced challenges with a 1.3 percentage point decrease in occupancy in its North America segment, which impacted revenue.

In terms of strategic developments, Carnival announced a share repurchase program of up to $2.5 billion, set to commence after shareholder meetings in April 2026. The company also reported a working capital deficit of $8.7 billion, slightly improved from $8.9 billion at the end of November 2025, largely due to the nature of its business model, which relies on advance customer deposits. Looking ahead, Carnival expressed optimism about continued demand for cruises, although it acknowledged potential risks from geopolitical uncertainties, fuel price fluctuations, and regulatory changes impacting operations. The company remains focused on leveraging its liquidity, which stood at $5.9 billion, to support future growth and capital investments.