Carnival Corporation (CCL) Q1 FY26 earnings call

Carnival delivered a strong first quarter, surpassing guidance with record revenues and customer deposits, driven by robust demand and effective cost management. The company introduced its PROPEL program, targeting significant long-term growth in ROIC, EPS, and shareholder returns by 2029, underpinned by yield expansion, disciplined capacity, destination monetization, and cost discipline. Despite geopolitical uncertainties and fuel price volatility, management remains confident in its strategic execution and ability to deliver sustained value.