Carnival Corporation expects its capital spending to rise in 2027, driven by five major drydocks next year compared to two in 2026, CFO David Bernstein said during the company’s third quarter earnings call.

Non-newbuild capital expenditures total $2.4 billion in 2026, and Bernstein said the company expected “a little bit of a step up” next year.

He did not provide a figure, saying more detailed guidance would come in December.

The drydocks include three AIDA ships and one Holland America Line ship as part of the company’s midlife modernization programs, plus a major refit of Cunard’s Queen Mary 2.

At AIDA, the AIDAmar is scheduled for her upgrade later this year; the AIDAblu is scheduled for work from January to March, followed by the AIDAsol from October to December.

Holland America Line’s Oosterdam will be in drydock from September to October in France.

The Queen Mary 2 will enter drydock at Damen Shiprepair Brest on March 31, returning to service May 9 with 31 new staterooms, refreshed Grill Suites and restaurants, and upgraded wellness, retail and planetarium spaces.