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How Carnival Corporation (CCL) makes money: Q3 FY2026 revenue breakdown
US GAAP · $M · vs Q3 FY2025 · quarter ended 08/31/2026 (fiscal year is shifted) · reported 09/29/2026
Carnival Corporation Ltd. is a Bermuda-domiciled American cruise line operator that owns more than 90 vessels across eight brands. · Text: Wikipedia, CC BY-SA 4.0, abridged
More about the company
Carnival is listed on the New York Stock Exchange, and is a component of the S&P 500 index. From 2003 to May 7, 2026, Carnival was a dual-listed company, consisting of U.S.-based and British corporations collectively known as Carnival Corporation & plc.
Key growth driver: Onboard and other — the fastest-growing revenue line: $2,906, +7% y/y. · by the Q3 FY2026 report
How does Carnival make money?
Carnival brought in $8.44 billion of revenue in Q3 FY2026, up 3.5% year over year. The largest source was Passenger ticket: $5.53 billion, or 66% of the total, followed by Onboard and other ($2.91B, 34%). Net income for the quarter was $1.92 billion, up 3.7% year over year.
Revenue by source, Q3 FY2026
- Passenger ticket$5.53B · 66% · +1.8%
- Onboard and other$2.91B · 34% · +6.7%
Shares of $8.44B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is CCL’s next earnings date?
Friday, December 18, 2026estimated
Expected around Dec 18 — based on last year’s report on Dec 19, 2025. We have not yet seen the company's announcement of the date.
How we estimate
The estimate is the date of the same-quarter report a year ago, per the company’s SEC filing, moved forward 52 weeks (same weekday). Companies usually keep the same week; the date will be replaced once CCL announces it.
Same quarter a year ago (ended November 30, 2025): revenue $6.33B, EPS (GAAP) $0.33
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
What time does CCL report? Usually before market open: the last 4 results releases reached the SEC at 9:16 am, 9:16 am, 9:18 am, 9:17 am ET.
Last report: Sep 29, 2026 (Q3 FY2026) — broken down in the Sankey chart below. Dates: company announcements; past dates and times — SEC 8-K filings. Who else reports this week →
All figures in $M.
Revenue
$8,435
+3.5%
Operating income
$2,220
−2.2%
26.3% margin
Net income
$1,920
+3.7%
$1.40/sh · 22.8% margin
Verdict: revenue grew 3.5% y/y to $8.44B, operating margin 26.3% vs 27.9%, net income $1.92B (+3.7% y/y).
Source and notation
Source: Carnival press release, 8-K EX-99.1 of 09/29/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
CCL earnings history: past report dates
| Sep 29, 2026 Tue | 9:16 ambefore market open | Aug 31, 2026 | $8.4B+3% y/y | $1.40+5% y/y |
| Jun 23, 2026 Tue | 9:16 ambefore market open | May 31, 2026 | $6.7B+5% y/y | $0.39−7% y/y |
| Mar 27, 2026 Fri | 9:18 ambefore market open | Feb 28, 2026 | $6.2B+6% y/y | $0.19 |
| Dec 19, 2025 Fri | 9:17 ambefore market open | Nov 30, 2025 | ≈$6.3B+7% y/y | ≈$0.33+18% y/y |
| Sep 29, 2025 Mon | 9:16 ambefore market open | Aug 31, 2025 | $8.2B+3% y/y | $1.33+6% y/y |
| Jun 24, 2025 Tue | 9:17 ambefore market open | May 31, 2025 | $6.3B+9% y/y | $0.42+500% y/y |
| Mar 21, 2025 Fri | 9:16 ambefore market open | Feb 28, 2025 | $5.8B+7% y/y | −$0.06+65% y/y |
| Dec 20, 2024 Fri | 9:17 ambefore market open | Nov 30, 2024 | ≈$5.9B+10% y/y | ≈$0.28 |
| Sep 30, 2024 Mon | 9:17 ambefore market open | Aug 31, 2024 | $7.9B+15% y/y | $1.26+59% y/y |
| Jun 25, 2024 Tue | 9:17 ambefore market open | May 31, 2024 | $5.8B+18% y/y | $0.07 |
| Mar 27, 2024 Wed | 9:18 ambefore market open | Feb 29, 2024 | $5.4B+22% y/y | −$0.17+69% y/y |
| Dec 21, 2023 Thu | 9:18 ambefore market open | Nov 30, 2023 | ≈$5.4B+41% y/y | ≈$0.02 |
| Sep 29, 2023 Fri | 9:16 ambefore market open | Aug 31, 2023 | $6.9B+59% y/y | $0.79 |
| Jun 26, 2023 Mon | 9:16 ambefore market open | May 31, 2023 | $4.9B+105% y/y | −$0.32+80% y/y |
| Mar 27, 2023 Mon | 9:15 ambefore market open | Feb 28, 2023 | $4.4B+173% y/y | −$0.55+67% y/y |
| Dec 21, 2022 Wed | 9:16 ambefore market open | Nov 30, 2022 | ≈$3.8B+198% y/y | ≈−$1.27+45% y/y |
Show all 16 reports since 2022Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Carnival Corporation: 15-year financials
| FY2025 | 26,622 | 4,483 | 2,760 | 2,607 | — |
| FY2024 | 25,021 | 3,574 | 1,916 | 1,297 | — |
| FY2023 | 21,593 | 1,956 | −74 | 997 | — |
| FY2022 | 12,168 | −4,379 | −6,093 | −6,610 | — |
| FY2021 | 1,908 | −7,089 | −9,501 | −7,716 | — |
| FY2020 | 5,595 | −8,865 | −10,236 | −9,921 | 689 |
| FY2019 | 20,825 | 3,276 | 2,990 | 46 | 1,387 |
| FY2018 | 18,881 | 3,325 | 3,152 | 1,800 | 1,355 |
| FY2017 | 17,510 | 2,809 | 2,606 | 2,378 | 1,087 |
| FY2016 | 16,389 | 3,071 | 2,779 | 2,072 | 977 |
| FY2015 | 15,714 | 2,574 | 1,757 | 2,251 | 816 |
| FY2014 | 15,884 | 1,772 | 1,216 | 847 | 776 |
| FY2013 | — | 1,329 | 1,055 | 685 | 1,164 |
| FY2012 | — | 1,642 | 1,298 | 667 | 779 |
| FY2011 | — | 2,255 | 1,912 | 1,070 | 671 |
Show all 15 yearsShow fewer
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*; the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Aug 31, 2026: $14.2B (28% of total assets). Compare with other S&P 500 companies →
Included in screener lists: Piotroski F-score: S&P 500 companies scoring 8 or 9
Carnival Corporation (CCL) earnings: FAQ
How does Carnival make money?
Carnival brought in $8.44 billion of revenue in Q3 FY2026, up 3.5% year over year. The largest source was Passenger ticket: $5.53 billion, or 66% of the total, followed by Onboard and other ($2.91B, 34%). Net income for the quarter was $1.92 billion, up 3.7% year over year.
When is CCL's next earnings date?
We have not yet seen an announcement of the date from Carnival Corporation (CCL). Based on last year's report on Dec 19, 2025, the next report is expected around Dec 18, 2026.
What time does CCL report earnings?
Carnival Corporation usually reports before market open: its latest results release was filed with the SEC at 9:16 am ET on Sep 29, 2026.
When did CCL last report earnings?
Carnival Corporation reported Q3 FY2026 results on Sep 29, 2026.
Where can I find Carnival Corporation's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to CCL's filings; this page breaks the latest report down in a Sankey chart.
What was CCL's net income in Q3 FY2026?
Carnival Corporation reported net income of $1,920M for Q3 FY2026 (+3.7% year over year), under US GAAP.
How has Carnival Corporation's revenue changed since 2014?
Per its 10-K filings, revenue grew 1.7x: $15,884M in fiscal 2014 and $26,622M in fiscal 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report — two independent automated readings of the release had to match, and every number in the text was checked against it. Figures checked against the filing on 10/16/2026. How we make the breakdowns · Report an error
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