Carnival Corporation
CCL Consumer Cyclical Travel Services
Carnival Corporation’s revenue for fiscal 2025 (year ended November 2025) was $26.6 billion, up 6.40% from fiscal 2024. In the quarter to August 2026, revenue grew 3.46%, EPS was flat, free cash flow fell 3.26% and total debt fell 9.70%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for three consecutive years, operating cash flow growth for five.
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Carnival Corporation 10-Q filed Jun 26, 2026
Red flags
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Share dilution
Shares outstanding rose 17.3% in a year, to 1.4 billion
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Mar 27, 2026: 43 added · 17 removed · 32 modified; 25 with only figures updated; 1 moved without change
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Removed · Cautionary Note Concerning Factors That May Affect Future Results
•We may not successfully complete the proposed unification of our dual listed company (“DLC”) structure and the migration of Carnival Corporation’s legal incorporation to Bermuda, or, if we do, we may not realize the anticipated benefits and will be subject to Bermuda law, which differs in some respects compared to our current jurisdictions.
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