Carnival posts record quarterly revenue, boosts outlook and unveils long-term targets

Carnival Corp (NYSE:CCL) reported a beardown commencement to 2026 with grounds first-quarter gross and raised its full-year outlook, arsenic request and higher pricing helped offset rising substance costs.

The cruise relation posted diluted net per stock of $0.19 and adjusted EPS of $0.20 for the quarter, up 50% from a twelvemonth earlier. Revenue roseate to a grounds $6.2 billion, driven by beardown close-in request and higher summons prices.

Net income came successful astatine $258 million, portion adjusted nett income reached $275 million, exceeding institution guidance contempt a $54 cardinal deed from substance prices and currency movements. Adjusted EBITDA deed a quarterly grounds of $1.3 billion.

CEO Josh Weinstein said the institution delivered results supra expectations, supported by “healthy fundamentals and coagulated execution,” allowing it to rise its full-year operational outlook by astir $150 million.

Carnival said bookings for 2026 are up treble digits, with astir 85% of inventory already sold astatine historically precocious prices. Customer deposits reached a grounds astir $8 cardinal successful the quarter, underscoring sustained request extending into 2028 sailings.

The institution expects full-year nett yields to emergence astir 2.75% successful changeless currency, somewhat supra anterior guidance, portion adjusted cruise costs excluding substance are projected to summation astir 3.1%, besides amended than earlier forecasts.

Carnival said improvements successful pricing and outgo power should thrust astir $150 cardinal successful further adjusted nett income versus its December outlook, helping to offset much than $500 cardinal successful higher expected substance costs.

Looking ahead, the institution introduced a caller semipermanent strategy, “PROPEL: Powering Growth and Returns, Responsibly,” targeting stronger net growth, higher returns and accrued shareholder distributions done 2029.

Carnival besides announced a $2.5 cardinal stock buyback program. Shares of Carnival slipped astir 2.7% aft Friday's opening bell.