Carnival Corp Ltd.

Company facts

Industry

Water Transportation

Headquarters

Miami, Florida

Most recent report

8-K, filed Aug 5, 2026

Filings on record

1,000+ filings

On EDGAR

CIK 815097

Fiscal year ends

November

Filer status

Large accelerated filer

What to read: May 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 5 positive, 6 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Full financial statements with all key numbers and notes a reader must see.
  Positive

  • Customer deposits up 25% to $9.0B, strong future demand.
  Notable

  • DLC unification completed May 2026, now single company listed on NYSE.
  • Converted $1.1B Convertible Notes in Dec 2025, reducing debt and diluting equity.
  • Ship commitments $0.5B rest of 2026, $1.6B in 2027, major capex ahead.

• Management's Discussion (Item 2)

  Full quarterly results with segment breakdown, operating income decline, and fuel cost spike.
  Positive

  • Revenue up: ticket +4.1% to $4.3B, onboard +7.4% to $2.4B in Q2 2026.
  • Interest expense down 16% to $285M in Q2 2026 due to lower debt and rates.
  • Cash from operations $3.9B for six months, up 18% from $3.3B.
  Notable

  • Operating expenses up 8.7% to $4.2B, driven by $121M higher fuel and $103M nonrecurring ship sale gains.
  • $6.7B liquidity with $2.2B cash and $4.5B revolver; $10.8B undrawn export credit facilities.
  • $381M share repurchases and $414M dividends in six months, new buyback this year.
  Negative

  • Operating income down $83M to $851M in Q2 2026, a 8.9% drop.
  • Both segments saw lower operating income in Q2: NA -$33M, Europe -$42M.

• Unregistered Sales and Repurchases (Item 2)

  New $2.5B buyback program and first quarter purchases, material capital allocation event.
  Positive

  • New $2.5B buyback program announced in March 2026, a significant return of cash to shareholders.

What changed: May 2026 vs. Feb 2026

About 15% of CCL's May 2026 10-Q is new information. 53 paragraphs were added, 116 changed, and 57 removed. Below are the most important lines SECSift identified.

• Item 2 77
• Item 1 50
• Item 6 6
• Item 4 2
• Item 5 1