CARNIVAL $CCL JUST REPORTED Q3 EARNINGS - Revenue: $8.4B, beating est. of $8.3B 🟢 - Adj EPS: $1.43, beating est. of $1.36 🟢 - Adj EBITDA: $3.0B (flat YoY) - Adj Net Income: $2.0B - Net Yields (cc): $255.09 (+2.4% YoY) - Oper Income: $2.2B (-2% YoY) - Net Income: $1.9B - Customer Deposits: $7.6B Q4 Guidance: - Adj Net Income: ~$274M - Adj EPS: ~$0.20, below est. of $0.25 🔴 - Adj EBITDA: ~$1.3B - Net Yields (cc): +1.7% - Adj Cruise Costs ex-Fuel/ALBD (cc): +1.7% FY26 Guidance: - Adj Net Income: ~$3.1B - Adj EPS: ~$2.24, above est. of $2.21 🟢 - Adj EBITDA: ~$7.1B - Net Yields (cc): +2.3% - Adj Cruise Costs ex-Fuel/ALBD (cc): +2.2% Key Updates: - 2027 Bookings: Record occupancy and pricing - Debt: $500M of seven percent coupon notes redeemed - Credit Rating: S&P upgrade made Carnival investment grade - Dividends: $204M paid during Q3

CARNIVAL $CCL Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $8.4B (Est. $8.3B) 🟢 🔹 Adj. EPS: $1.43 (Est. $1.36) 🟢; flat YoY 🔹 Adj. EBITDA: $3.0B (Est. $2.93B) 🟢; flat YoY 🔹 Adj. Net Income: $2.0B (Est. $1.86B) 🟢 FY26 Guide: 🔹 Adj. Net Income: ~$3.1B (Est. $3.05B) 🟢 🔹 Adj. EPS: ~$2.24 (Est. $2.21) 🟢 🔹 Adj. EBITDA: ~$7.1B (Est. $7.12B) 🟡 🔹 Net Yields (cc): +2.3% 🔹 Adj. Cruise Costs ex-Fuel/ALBD (cc): +2.2% Q4 Guide: 🔹 Adj. Net Income: ~$274M (Est. $352M) 🔴 🔹 Adj. EPS: ~$0.20 (Est. $0.25) 🔴 🔹 Adj. EBITDA: ~$1.3B (Est. $1.32B) 🟡 🔹 Net Yields (cc): +1.7% 🔹 Adj. Cruise Costs ex-Fuel/ALBD (cc): +1.7% Q3 Metrics: 🔹 Net Yields (cc): $255.09; +2.4% YoY 🔹 Adj. Costs ex-Fuel/ALBD (cc): $113.98; +1.8% YoY 🔹 Oper Income: $2.2B (Est. $2.2B) 🟡; -2% YoY 🔹 Net Income: $1.9B 🔹 EPS: $1.40; +5% YoY 🔹 Customer Deposits: $7.6B 🔹 Occupancy: 111.8% Key Updates: 🔹 2027 Bookings: Record occupancy and pricing 🔹 Debt: $500M of seven percent coupon notes redeemed 🔹 Credit Rating: S&P upgrade made Carnival investment grade 🔹 Dividends: $204M paid during Q3

WALMART $WMT Q2’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $187.9B (Est. $186.7B) 🟢; +5.9% YoY 🔹 Adj. EPS: $0.81 (Est. $0.74) 🟢; +19% YoY 🔹 Net Income: $6.5B (Est. $5.91B) 🟢 🔹 eCommerce Sales: +23% globally Raises FY27 Guide: 🔹 Adj. EPS: $2.80-$2.87 (Est. $2.8) 🟡 🔹 Net Sales (cc): +4%-+5% 🔹 Adj. Oper. Income (cc): +7%-+8.5% 🔹 Capital Expenditures: ~4.0% of net sales Q3 Guide: 🔹 Net Sales (cc): +3%-+3.75% 🔹 Operating Income (cc): +2%-+4% 🔹 Adj. EPS: $0.62-$0.64 Segment Net Revenue: 🔹 Walmart U.S.: $125.2B; +3.5% YoY 🔹 Walmart International: $35.2B; +12.8% YoY 🔹 Sam’s Club U.S.: $25.7B; +8.8% YoY Other Q2 Metrics: 🔹 U.S. Comp Sales: 2.6% ex. fuel 🔹 Gross Profit Rate: +96 bps 🔹 Global Advertising: +38% 🔹 Membership Fee Revenue: +17% globally 🔹 Operating Cash Flow: $19.7B 🔹 Free Cash Flow: $5.5B Comments: 🔸 “Our business model is only getting stronger and more durable, and we’re pleased to raise our guidance for the year.”