Carnival announces PROPEL, a new set of long-term targets

The company is introducing 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. PROPEL Targets: Greater than 16 percent return on invested capital; More than 50 percent adjusted EPS growth from 2025; More than 40 percent of cash from operations distributed to shareholders (approximately $14 billion). These targets will be accomplished responsibly, as the company also intends to achieve a 2.75x net debt to adjusted EBITDA ratio and a reduction of the company’s greenhouse gas emissions rate by more than 25 percent compared to 2019 levels.