Carnival Corporation & plc

CCL Q3 2026

Reported: 2026-10-01

Carnival shares rose 10.8% after the company reported Q3 net income about $2 billion, $100 million above its guidance, with better-than-expected yields and costs. The call also pointed to record pricing and occupancy for 2027 bookings, though management said the spring booking disruption extended into early 2027 before rebounding.

Key takeaways

Q3 yields increased nearly 2.5%, more than 1 percentage point better than expected; stronger closing demand also led Carnival to raise its fourth-quarter yield expectations.
Cruise costs excluding fuel came in 1 percentage point better than guidance. Fuel consumption was 3 points better than expected, and management said operational improvements since June had offset the impact of higher expected fuel prices.
Carnival is half booked for 2027, with occupancy and pricing at record levels; 2028 bookings are also ahead year over year in both occupancy and price.
Customer deposits reached a third-quarter record of approximately $7.6 billion, up about 7% despite flat capacity growth over the next 12 months.
Celebration Key welcomed almost 2.5 million guests in its first year; Carnival expects approximately 3.5 million guests next year, with 31 ships calling versus 26 this year.

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S&U plc

SUS.L Q2 2026

Reported: 2026-10-01

S&U shares fell 3.6% after the results, with investors likely focused on near-flat reported profit before tax and rising funding costs as the group expands its loan books. Management reported 7% underlying PBT growth excluding an exceptional Aspen recovery in the prior-year period, but the headline increase was only 1%.

Key takeaways

Profit before tax was £15.7m, versus £15.6m a year earlier; revenue rose 11%.
The impairment charge was broadly steady at £8.2m. Advantage repayments improved to 92% of amounts due from 90%, while Aspen loans past term fell to 17 of 259.
Net receivables increased to £541m, up just over £100m year on year. Borrowings reached £285.1m and gearing rose to 114% from 97% at year-end.
Finance costs increased around 30%; cost of sales rose 32%, mainly reflecting higher broker commissions on increased Advantage volumes.
The interim dividend rose to 36p from 35p. The group said it was in the latter stages of arranging new warehouse facilities that would increase funding capacity from £337m to £650m.

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Tamboran Resources Corp

TBN Q1 2027

Reported: 2026-10-01

Tamboran shares fell 5.0% after earnings, with the likely concern being that commercial supply remains in commissioning and current volumes are limited to 25 TJ/day by market nominations. The 40 TJ/day take-or-pay contract has not yet started, while production performance and the potential cost benefits from local sand remain to be proven over time.

Key takeaways

Gas sales to the Northern Territory market began, but flow had lasted only 20 days at the time of the call; current nominations are 25 TJ/day.
During commissioning, Tamboran receives 75% of the gas price. The company expects take-or-pay terms on the 40 TJ/day contract quantity to apply after commissioning and production testing are complete.
The SS-2 campaign completed 178 stimulation stages across 30,000 lateral feet, including 10 stages using locally supplied sand. Management said longer-term flow rates and recoveries will be needed to assess performance.
Tamboran estimates local sand could save $4 million per well with a 10,000-foot horizontal section, but that saving is not yet established across future campaigns.
The company reported US$225 million in cash and US$31 million in undrawn debt at quarter-end. Including US$15 million expected from Daly Waters Energy, subject to conditions, pro forma cash would be US$240 million.

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Uranium Energy Corp.

UEC Q4 2026

Reported: 2026-10-01

UEC’s shares rose 2.6%, a roughly flat reaction, as production increased and unit costs declined in the fourth quarter. The company ended the year with substantial liquidity and no debt, while its refining and conversion project remains in development.

Key takeaways

Fourth-quarter production was nearly 83,000 pounds, up 157% from the third quarter. Cash cost was about $30 per pound and total cost about $36.50.
Full-year production exceeded 229,000 pounds at a cash cost of about $34 per pound and a total cost of $39.94 per pound.
UEC sold 400,000 pounds at a weighted average realized price of $93.13 per pound, generating $37.3 million in revenue and $16.9 million in gross profit; it held 1.26 million pounds of inventory at year-end.
The company reported $753 million in liquid assets, including $495 million in cash, and no debt.
Its refining and conversion subsidiary is preparing an NRC license application and advancing toward a Class 4 cost estimate, which management expects in mid-2027.

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