Carnival's PROPEL Strategy Aims for 50% EPS Growth by 2029

Carnival Corporation reported record Q1 revenues, net income, and customer deposits, driven by higher yields and improved cost execution. The company introduced its PROPEL framework, targeting 50% EPS growth and a return on invested capital above 16% by 2029. Carnival expects FY26 earnings per share of $2.21, with a yield growth of approximately 2.75%, but faces a $0.38 per share headwind from higher fuel prices. Management is confident in the long-term trajectory of the business despite external uncertainties.