Carnival (NYSE:CCL) Issues Q4 2026 Earnings Guidance

Key Points

• Carnival issued Q4 2026 EPS guidance of $0.20, below the $0.25 analyst consensus, while setting full-year 2026 EPS guidance at $2.24.
• The company’s latest quarter exceeded expectations, with EPS of $1.43 versus $1.35 expected and revenue of $8.44 billion versus $8.39 billion forecast.
• Analysts maintain a broadly positive view, with a “Moderate Buy” consensus rating and an average price target of $34.45; Carnival also pays a quarterly dividend of $0.15, representing a 2.4% yield.

Carnival (NYSE:CCL - Get Free Report) issued an update on its fourth quarter 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.200-0.200 for the period, compared to the consensus estimate of 0.250. The company issued revenue guidance of -. Carnival also updated its FY 2026 guidance to 2.240-2.240 EPS.

Carnival Stock Up 11.8%

Shares of Carnival stock opened at $24.75 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.33 and a quick ratio of 0.29. The company has a market capitalization of $33.90 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.06 and a beta of 2.31. The business has a 50-day moving average of $25.29 and a two-hundred day moving average of $26.32. Carnival has a 1 year low of $21.45 and a 1 year high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, September 29th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The firm had revenue of $8.44 billion for the quarter, compared to analysts' expectations of $8.39 billion. Carnival has set its Q4 2026 guidance at 0.200-0.200 EPS and its FY 2026 guidance at 2.240-2.240 EPS. As a group, equities analysts predict that Carnival will post 2.2 EPS for the current year.

Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.60 annualized dividend and a yield of 2.4%. Carnival's payout ratio is currently 27.03%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Tigress Financial lifted their target price on Carnival from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Melius Research set a $36.00 price objective on Carnival in a research note on Wednesday, June 17th. Loop Capital started coverage on Carnival in a research note on Monday, June 1st. They issued a "buy" rating and a $36.00 target price on the stock. TD Cowen dropped their price target on shares of Carnival from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. Finally, Barclays lowered their target price on shares of Carnival from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.45.

Key Carnival News

Here are the key news stories impacting Carnival this week:

• Positive Sentiment: Carnival reported that third-quarter 2026 results outperformed guidance, with its best-ever revenue, net yields and net income. Record bookings also provide a strong foundation for 2027, reinforcing the company’s demand recovery and pricing momentum. Carnival third-quarter 2026 results
• Positive Sentiment: The results offer a favorable contrast with the recent share-price weakness and may ease concerns that Carnival’s recovery is losing momentum. Strong bookings are particularly important because they support future occupancy, pricing and onboard revenue.
• Neutral Sentiment: Investors had been focused on whether management would discuss dividends, Holland America and fleet upgrades during the earnings update. These topics could influence the next phase of Carnival’s capital-allocation and growth strategy. Carnival earnings preview
• Neutral Sentiment: Princess Cruises, a Carnival brand, launched an AI-powered cruise-planning app within ChatGPT. The initiative could improve customer discovery and bookings, but its near-term financial effect on CCL is uncertain. Princess Cruises AI app launch
• Negative Sentiment: Higher fuel prices remain a major concern because they can raise voyage costs and compress margins. Bank of America cut its Carnival price target as this cost pressure intensified, contributing to investor caution despite the company’s operational gains. Bank of America cuts Carnival price target
• Negative Sentiment: Pre-earnings coverage also highlighted Carnival’s substantial debt burden and shares trading near a 52-week low. Those balance-sheet and valuation concerns may limit the market’s reaction unless management provides reassuring guidance on costs, cash flow and debt reduction.

Carnival Company Profile

Carnival Corporation & plc NYSE: CCL is a global leisure travel company that operates cruise lines and related vacation businesses. Its brands offer ocean cruises, onboard entertainment, dining, accommodation, excursions and other travel experiences to passengers across a range of price points and destinations.

The company's portfolio includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Cunard, P&O Cruises, P&O Cruises Australia, AIDA Cruises and Costa Cruises.

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