Carnival — Mar 27, 2026 release

CARNIVAL CORPORATION & PLC CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) (in millions, except per share data)     Three Months Ended February 28,   2026 2025 Passenger ticket $ 4,023  $ 3,832  Onboard and other 2,142  1,978  Total Revenues 6,165  5,810  Cruise and tour operating expenses: Commissions, transportation and other 872  850  Onboard and other 618  599  Payroll and related 684  640  Fuel 397  465  Food 382  354  Other operating 986  858  Total Cruise and tour operating expenses 3,939  3,766  Selling and administrative expense 924  848  Depreciation and amortization expense 696  654  Operating Income 607  543  Interest income 12  7  Interest expense, net of capitalized interest (291) (377) Debt extinguishment and modification costs —  (252) Other income (expense), net (47) 12  Income (Loss) Before Income Taxes 280  (68) Income tax expense, net (17) (7) Net Income (Loss) 263  (75) Less: net income attributable to noncontrolling interest 4  4  Net Income (Loss) attributable to Carnival Corporation & plc $ 258  $ (78) Earnings Per Share Basic $ 0.19  $ (0.06) Diluted $ 0.19  $ (0.06) Weighted-Average Shares Outstanding - Basic 1,379 1,309 Weighted-Average Shares Outstanding - Diluted 1,392 1,309  CARNIVAL CORPORATION & PLC CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except par values)     February 28, 2026 November 30, 2025 ASSETS Current Assets Cash and cash equivalents $ 1,424  $ 1,928  Trade and other receivables, net 663  678  Inventories 510  505  Prepaid expenses and other 1,120  1,108    Total current assets 3,716  4,219  Property and Equipment, Net 43,700  43,494  Operating Lease Right-of-Use Assets, Net 1,295  1,328  Goodwill 579  579  Other Intangibles 1,181  1,177  Other Assets 1,095  890  $ 51,567  $ 51,687  LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt $ 1,502  $ 2,603  Current portion of operating lease liabilities 171  175  Accounts payable 1,242  1,245  Accrued liabilities and other 2,034  2,239  Customer deposits 7,472  6,831    Total current liabilities 12,420  13,092  Long-Term Debt 23,788  24,037  Long-Term Operating Lease Liabilities 1,146  1,178  Other Long-Term Liabilities 1,164  1,097  Shareholders’ Equity Carnival Corporation common stock, $0.01 par value; 1,960 shares authorized; 1,367 shares issued at 2026 and 1,298 shares issued at 2025 14  13  Carnival plc ordinary shares, $1.66 par value; 217 shares issued at 2026 and 2025 361  361  Additional paid-in capital 17,871  17,253  Retained earnings 4,733  4,817  Accumulated other comprehensive income (loss) (1,738) (1,810) Treasury stock, 128 shares at 2026 and 131 shares at 2025 of Carnival Corporation and 71 shares at 2026 and 72 shares at 2025 of Carnival plc, at cost (8,210) (8,364) Total shareholders’ equity attributable to Carnival Corporation & plc 13,031  12,270  Noncontrolling interest 18  14    Total shareholders’ equity 13,049  12,284  $ 51,567  $ 51,687  CARNIVAL CORPORATION & PLC OTHER INFORMATION OTHER BALANCE SHEET INFORMATION (in millions) February 28, 2026 November 30, 2025 Debt (current and long-term) $ 25,290  $ 26,640  Customer deposits (current and long-term) $ 7,923  $ 7,246  Three Months Ended February 28, CASH FLOW INFORMATION (in millions) 2026 2025 Cash from operations $ 1,263  $ 925  Capital expenditures (Purchases of Property and Equipment) $ 566  $ 607  Dividends paid $ 208  $ —  Three Months Ended February 28, STATISTICAL INFORMATION 2026 2025 Passenger cruise days (“PCDs”) (in millions) (a) 24.4  24.3  ALBDs (in millions) (b) 23.7  23.6  Occupancy percentage (c) 103  % 103  % Passengers carried (in millions) 3.1  3.2  Fuel consumption in metric tons (in millions) 0.7  0.7  Fuel consumption in metric tons per thousand ALBDs 28.9  30.3  Fuel cost per metric ton consumed (excluding emission allowances) $ 559  $ 643  Currencies (USD to 1) AUD $ 0.68  $ 0.63  CAD $ 0.73  $ 0.70  EUR $ 1.18  $ 1.04  GBP $ 1.35  $ 1.25  Notes to Statistical Information (a) PCD represents the number of cruise passengers on a voyage multiplied by the number of revenue-producing ship operating days for that voyage. (b) ALBD is a standard measure of passenger capacity for the period that we use to approximate rate and capacity variances, based on consistently applied formulas that we use to perform analyses to determine the main non-capacity driven factors that cause our cruise revenues and expenses to vary. ALBDs assume that each cabin we offer for sale accommodates two passengers and is computed by multiplying passenger capacity by revenue-producing ship operating days in the period. (c) Occupancy, in accordance with cruise industry practice, is calculated using a numerator of PCDs and a denominator of ALBDs, which assumes two passengers per cabin even though some cabins can accommodate three or more passengers. Percentages in excess of 100% indicate that on average more th