Filing Flows › Carnival (CCL) › Q2 FY26 › vs Q1 FY26
Carnival (CCL) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Carnival's revenue rose $498M (+8%) from $6.2B in Q1 FY26 to $6.7B in Q2 FY26. Operating margin 12.8% against 9.8% (+2.9 pts).
Carnival, Q2 FY26: revenue $6.7B (+5% year over year), operating margin 12.8%, net earnings $539M, operating cash flow $2.6B. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 12.8% | 9.8% | +2.9 pts |
| Net margin | 8.1% | 4.3% | +3.8 pts |
| Free cash flow margin | 26.3% | 11.3% | +15.0 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $6.7B | $6.2B | $498M | +8% |
| Operating profit | $851M | $607M | $244M | +40% |
| Costs & expenses | $5.8B | $5.6B | $254M | +5% |
| Pre-tax earnings | $555M | $280M | $275M | +98% |
| Other expense, net | $296M | $327M | −$31.0M | -9% |
| SG&A | $863M | $924M | −$61.0M | -7% |
| Other operating costs | $4.9B | $4.6B | $315M | +7% |
| Net earnings | $539M | $263M | $276M | +105% |
| Income tax | $17.0M | $17.0M | $0 | 0% |
| Depreciation & amortization | $723M | $696M | $27.0M | +4% |
| Share-based compensation | $22.0M | $28.0M | −$6.0M | -21% |
| Working capital & other | $1.3B | $276M | $1.1B | +388% |
| Operating cash flow | $2.6B | $1.3B | $1.4B | +108% |
| Free cash flow (OCF − capex) | $1.8B | $697M | $1.1B | +152% |
| Capital expenditures | $875M | $566M | $309M | +55% |
Questions
How much did Carnival's revenue grow quarter over quarter in Q2 FY26?
Carnival's revenue rose $498M (+8%) from $6.2B in Q1 FY26 to $6.7B in Q2 FY26. Operating margin 12.8% against 9.8% (+2.9 pts).