Carnival — Mar 27, 2026 release

• Record revenues 2 of $6.2 billion, gross margin yields up nearly 10 percent and record net yields 1,2 (in constant currency), outperforming guidance on strong close-in demand. • Bookings for 2026 up double digits, further strengthening the company’s record booked position at historically high prices (in constant currency). • Expects operational improvement of nearly $150 million in full year 2026 adjusted net income 1 compared to December guidance, partially mitigating the impact from recent changes in fuel prices. • Announces PROPEL, a new set of long-term targets designed to reflect continued earnings growth momentum, outsized shareholder distributions and even higher returns to be achieved by 2029. “We delivered a strong start to the year, with record first-quarter operating results that exceeded our guidance, driven by healthy fundamentals and solid execution across the business. This performance supported an increase to our full year operational outlook of nearly $150 million, helping to mitigate the impact of higher fuel prices,” said Carnival Corporation & plc’s Chief Executive Officer Josh Weinstein. “We remain on track to deliver solid yield growth, continued cost discipline and $7 billion in adjusted EBITDA 1 this year, underscoring the strength of demand across our portfolio, progress on our long-term strategy, and the advancements we have made positioning the business to perform across a range of environments.” “With this strong foundation in place, we are focused on the next chapter of value creation for Carnival. Today, we are introducing PR