Carnival Corporation (CCL) Releases Q1 2026 Earnings: Revenue Up, EPS and Net Income Plunge

Carnival Corporation ($CCL) reported Q1 2026 results with top-line growth but sharply lower profitability compared with the prior year.

Revenue: $6.2 billion (up 6.11% year‑over‑year)

Gross profit: $3.2 billion (up 57.14% year‑over‑year)

Operating profit: $607 million (down 292.09% year‑over‑year)

Net income attributable to common shareholders: $263 million (down 437.18% year‑over‑year)

Diluted earnings per share: $0.19 (down 416.67% year‑over‑year)

Cost of sales declined notably, supporting the expansion in gross profit despite the drop in operating and net results.

Cost of sales: $2.95 billion (down 21.59% year‑over‑year)

Cash flow and balance sheet highlights show improved operating cash generation and a stronger liquidity position.

Cash from operating activities: $1.3 billion (up 36.54% year‑over‑year)

Purchases of property, plant and equipment: -$566 million (down 6.75% year‑over‑year)

Cash and cash equivalents: $1.4 billion (up 70.95% year‑over‑year)

Total liabilities: $38.5 billion (down 2.12% year‑over‑year)

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Carnival Corporation Insider Trading Activity

Carnival Corporation insiders have traded $CCL stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $CCL stock by insiders over the last 6 months:

DAVID BERNSTEIN (CFO & CAO) sold 361,790 shares for an estimated $12,016,891

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Carnival Corporation Hedge Fund Activity

We have seen 512 institutional investors add shares of Carnival Corporation stock to their portfolio, and 483 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BESSEMER GROUP INC removed 18,090,978 shares (-68.0%) from their portfolio in Q4 2025, for an estimated $552,498,468
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 16,781,623 shares (-99.9%) from their portfolio in Q4 2025, for an estimated $512,510,766
VIKING GLOBAL INVESTORS LP added 14,061,827 shares (+inf%) to their portfolio in Q4 2025, for an estimated $429,448,196
BARROW HANLEY MEWHINNEY & STRAUSS LLC removed 6,983,644 shares (-19.3%) from their portfolio in Q4 2025, for an estimated $213,280,487
HOLOCENE ADVISORS, LP removed 5,919,642 shares (-54.4%) from their portfolio in Q4 2025, for an estimated $180,785,866
D. E. SHAW & CO., INC. added 5,049,420 shares (+548.1%) to their portfolio in Q4 2025, for an estimated $154,209,286
LOS ANGELES CAPITAL MANAGEMENT LLC removed 4,865,844 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $148,602,875

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Carnival Corporation Congressional Stock Trading

Members of Congress have traded $CCL stock 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $CCL stock by members of Congress over the last 6 months:

REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 2 purchases worth up to $30,000 on 10/09 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Carnival Corporation Analyst Ratings

Wall Street analysts have issued reports on $CCL in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

TD Cowen issued a "Buy" rating on 01/13/2026
Barclays issued a "Overweight" rating on 12/22/2025
Argus Research issued a "Buy" rating on 12/22/2025
UBS issued a "Buy" rating on 12/18/2025
Wells Fargo issued a "Overweight" rating on 12/01/2025
Tigress Financial issued a "Buy" rating on 10/15/2025
Citigroup issued a "Buy" rating on 10/01/2025

To track analyst ratings and price targets for Carnival Corporation, check out Quiver Quantitative's $CCL forecast page.

Carnival Corporation Price Targets

Multiple analysts have issued price targets for $CCL recently. We have seen 17 analysts offer price targets for $CCL in the last 6 months, with a median target of $36.0.

Here are some recent targets:

Patrick Scholes from Truist Securities set a target price of $30.0 on 03/24/2026
Brandt Montour from Barclays set a target price of $36.0 on 03/24/2026
Christopher Stathoulopoulos from Susquehanna set a target price of $30.0 on 03/23/2026
Jamie Rollo from Morgan Stanley set a target price of $31.0 on 03/19/2026
Lizzie Dove from Goldman Sachs set a target price of $30.0 on 03/11/2026
Steven Wieczynski from Stifel set a target price of $35.0 on 03/11/2026
Trey Bowers from Wells Fargo set a target price of $40.0 on 03/05/2026