Carnival — Mar 27, 2026 release

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 PROPEL: Powering Growth and Returns, Responsibly — our new set of long-term targets. At its core, PROPEL is about converting strong demand into higher returns, earnings growth and cash flow while maintaining disciplined capacity growth and a strong balance sheet,” Weinstein added. First Quarter 2026 Results • Net income 3 of $258 million and adjusted net income of $275 million, outperformed guidance despite a $54 million ($0.04 adjusted EPS) unfavorable impact from fuel prices and currency rates compared to guidance. • Record adjusted EBITDA 2 of $1.3 billion. • Gross margin yields increased nearly 10 percent. Record net yields 2 (in constant currency) increased 2.7 percent, which outperformed guidance by over 1 point. • Cruise costs per available lower berth day (“ALBD”) increased 4.9 percent. Adjusted cruise costs excluding