Filing Flows › Carnival (CCL) › Q2 FY26
Carnival (CCL) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jun 26, 2026
Carnival (CCL) reported revenue of $6.7B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +8% from the quarter before. Operating margin was 12.8%, net earnings $539M (8.1% of revenue).
Carnival, Q2 FY26: revenue $6.7B (+5% year over year), operating margin 12.8%, net earnings $539M, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7B | +8% | +5% |
| Operating profit | $851M | +40% | -9% |
| Net earnings | $539M | +105% | -5% |
| Operating cash flow | $2.6B | +108% | +10% |
| Free cash flow | $1.8B | +152% | +14% |
What changed
Revenue was $6.7B in Q2 FY26, up 5% year over year and up 8% from the previous quarter. North America Segment was the largest line at 66% of revenue. North America Segment added $0.20B year over year (up 5%), 59% of the total change.
Operating profit was $0.85B, a 12.8% margin (down 2.0 points year over year). Operating profit fell $0.08B even though revenue rose $0.34B versus Q2 FY25, so costs grew faster than sales. Total costs grew 8% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+615%). Net earnings were $0.54B, down 5% year over year. The effective tax rate was 3.1%.
Operating cash flow was $2.6B (up 10% year over year), 488% of net earnings. Non-cash charges added back $0.72B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $1.3B. Capital expenditures of $0.88B left free cash flow of $1.8B.
Questions
What was Carnival's revenue in the second quarter fiscal 2026?
Carnival (CCL) reported revenue of $6.7B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +8% from the quarter before.
Was Carnival profitable in the second quarter fiscal 2026?
Operating profit was $851M (12.8% of revenue) and net earnings $539M.
Source: Carnival 10-Q on SEC EDGAR.