Carnival (NYSE:CCL), the world’s largest leisure travel company, today reported record-breaking financial results for the first quarter of 2026, signaling a robust start to the fiscal year.
For the first quarter, Carnival reported record revenue of $6.2 billion.
Profitability saw a significant uplift, with diluted earnings per share (EPS) reaching $0.19 and adjusted EPS hitting $0.20, representing a 50% increase compared to the prior year.
The company also achieved a record adjusted EBITDA of $1.3 billion, a testament to effective cost management and high onboard spending.
Building on this financial momentum, Carnival announced the launch of "PROPEL," a strategic roadmap outlining long-term targets through 2029.
The plan sets ambitious goals, including a return on invested capital (ROIC) exceeding 16% and adjusted EPS growth of more than 50% from 2025 levels.
Most notably, the company intends to return approximately $14 billion to shareholders through 2029—representing roughly 40% of its generated cash—starting with an initial $2.5 billion share buyback program authorized for the current fiscal year.
The company’s forward-looking indicators remain exceptionally strong.
Bookings for the remainder of the year are at historically high prices, with nearly 85% of 2026 inventory already sold.
Customer deposits have surged to nearly $8 billion, providing a stable liquidity foundation.
Consequently, management raised its full-year operational outlook by approximately $150 million, citing the sustained "wave season" demand and improved fuel efficiencies across its modernized fleet.