Home Earnings calls Carnival (CCL) Guidance & outlook About Carnival. Carnival Corporation & plc operates as a prominent global entity in the leisure travel sector.
Key takeaways Q&A summary Guidance & outlook Quarterly guidance
Q4 2026 Yields Expected to be up approximately 1.7% year-over-year.
Q4 2026 Cruise Costs (ex-fuel) Expected to be up approximately 2.2% year-over-year. Annual guidance
Full Year 2026 EPS $2.24
Full Year 2026 Yields Expected growth of approximately 2.3% . Outlook
Consumer Demand Remains broad-based and strong, with vacations viewed as essential by consumers.
Capacity Growth Relatively flat overall capacity growth for the next 12 months.
Destination Strategy Celebration Key is expected to welcome approximately 3.5 million guests next year.
Deployment Europe will tie the Caribbean as the largest deployment region in 2027 at 34% each.
Capital Allocation Expects to return nearly $2 billion to shareholders through dividends and buybacks.
Debt Total debt is below $24 billion , with no remaining secured debt.
Loyalty Program Carnival Rewards is expected to be cash flow positive from launch, though it creates temporary yield headwinds until 2028 .
2027 Outlook First quarter 2027 will reflect residual booking disruption impacts, but the rest of the year is strong. See it on a live catalyst
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Sources and method Dombey's summary of the Carnival Q3 FY2026 earnings call held Sep 29, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
Updated Nov 9, 2026 . All earnings call analyses
Research published before the catalyst, kept on the record after it. 
