Carnival Corporation & plc (NYSE:CCL) (NYSE:CUK) reported first-quarter 2026 results on Friday that beat analyst expectations on both adjusted earnings and revenue, though the stock traded lower following the release.

Earnings Beat And Revenue Growth

Adjusted EPS was 20 cents, topping the 18-cent estimate, while revenue rose 6.1% to $6.165 billion from $5.810 billion and beat the $6.134 billion estimate. Diluted GAAP EPS was 19 cents.

Net income attributable to Carnival was $258 million, compared with a loss of $78 million a year earlier. Adjusted net income was $275 million, and adjusted EBITDA reached a first-quarter record $1.267 billion.

The company said results exceeded guidance despite a $54 million, or 4 cents per-share, unfavorable impact from fuel ...