Royal Caribbean Cruises Ltd. Q2 2024 Filing Released
Ticker: RCL · Form: 10-Q · Filed: 2024-07-25T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, cruise-line
TL;DR
RCLLTD Q2 2024 10-Q is out. Financials look solid.
AI Summary
Royal Caribbean Cruises Ltd. reported its second quarter 2024 results, ending June 30, 2024. The company's financial performance for the quarter and year-to-date is detailed in this 10-Q filing. Specific revenue figures and operational metrics are provided for the periods ending June 30, 2024, and June 30, 2023.
Why It Matters
This filing provides investors with the latest financial performance data for Royal Caribbean, crucial for understanding the company's current operational health and future prospects in the travel industry.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- 2024-06-30 — Report End Date (Second quarter 2024 financial reporting period.)
- 2023-06-30 — Prior Year Q2 End Date (Comparison period for second quarter 2023 financial results.)
Key Players & Entities
- ROYAL CARIBBEAN CRUISES LTD (company) — Filer
- 0000884887 (company) — Central Index Key
- 20240630 (date) — Period of Report
- 20240725 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240630, covering the second quarter of 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20240725.
What is the company's Central Index Key (CIK)?
The Central Index Key for Royal Caribbean Cruises Ltd. is 0000884887.
What is the Standard Industrial Classification (SIC) code for Royal Caribbean Cruises Ltd.?
The SIC code is WATER TRANSPORTATION [4400].
What are the dates for the Q2 2024 passenger revenue reporting period?
The Q2 2024 passenger revenue reporting period is from 2024-04-01 to 2024-06-30.
Filing Stats: 4,841 words · 19 min read · ~16 pages · Grade level 16.4 · Accepted 2024-07-25 16:45:32
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share RCL New York Stock Exchange
Filing Documents
- rcl-20240630.htm (10-Q) — 1718KB
- a2024q2exhibit101.htm (EX-10.1) — 170KB
- a2024q2exhibit102.htm (EX-10.2) — 173KB
- a2024q2exhibit103.htm (EX-10.3) — 208KB
- a2024q2exhibit104.htm (EX-10.4) — 208KB
- a2024q2exhibit105.htm (EX-10.5) — 173KB
- a2024q2exhibit106.htm (EX-10.6) — 170KB
- a2024q2exhibit107.htm (EX-10.7) — 143KB
- a2024q2exhibit108.htm (EX-10.8) — 236KB
- a2024q2exhibit109.htm (EX-10.9) — 365KB
- a2024q2exhibit1010.htm (EX-10.10) — 314KB
- a2024q2exhibit1011.htm (EX-10.11) — 144KB
- a2024q2exhibit1012.htm (EX-10.12) — 1276KB
- a2024q2exhibit311.htm (EX-31.1) — 15KB
- a2024q2exhibit312.htm (EX-31.2) — 14KB
- a2024q2exhibit321.htm (EX-32.1) — 14KB
- calc1a.jpg (GRAPHIC) — 6KB
- calc2a.jpg (GRAPHIC) — 4KB
- calc3a.jpg (GRAPHIC) — 5KB
- calc4a.jpg (GRAPHIC) — 9KB
- 0000884887-24-000130.txt ( ) — 13390KB
- rcl-20240630.xsd (EX-101.SCH) — 58KB
- rcl-20240630_cal.xml (EX-101.CAL) — 89KB
- rcl-20240630_def.xml (EX-101.DEF) — 312KB
- rcl-20240630_lab.xml (EX-101.LAB) — 731KB
- rcl-20240630_pre.xml (EX-101.PRE) — 515KB
- rcl-20240630_htm.xml (XML) — 1655KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 36
Controls and Procedures
Item 4. Controls and Procedures 36
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 37
Risk Factors
Item 1A. Risk Factors 37
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
SIGNATURES
SIGNATURES 41
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements ROYAL CARIBBEAN CRUISES LTD. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited; in millions, except per share data) Quarter Ended June 30, 2024 2023 Passenger ticket revenues $ 2,887 $ 2,444 Onboard and other revenues 1,223 1,079 Total revenues 4,110 3,523 Cruise operating expenses: Commissions, transportation and other 572 516 Onboard and other 244 220 Payroll and related 313 284 Food 225 203 Fuel 282 276 Other operating 516 456 Total cruise operating expenses 2,152 1,955 Marketing, selling and administrative expenses 466 435 Depreciation and amortization expenses 393 362 Operating Income 1,099 771 Other income (expense): Interest income 4 10 Interest expense, net of interest capitalized ( 298 ) ( 355 ) Equity investment income 56 42 Other expense ( 3 ) ( 5 ) ( 241 ) ( 308 ) Net Income 858 463 Less: Net Income attributable to noncontrolling interest 4 4 Net Income attributable to Royal Caribbean Cruises Ltd. $ 854 $ 459 Earnings per Share: Basic $ 3.32 $ 1.79 Diluted $ 3.11 $ 1.70 Weighted-Average Shares Outstanding: Basic 257 256 Diluted 281 282 Comprehensive Income (Loss) Net Income $ 858 $ 463 Other comprehensive income (loss): Foreign currency translation adjustments 6 ( 3 ) Change in defined benefit plans ( 12 ) ( 3 ) (Loss) gain on cash flow derivative hedges ( 31 ) 5 Total other comprehensive loss ( 37 ) ( 1 ) Comprehensive Income 821 462 Less: Comprehensive Income attributable to noncontrolling interest 4 4 Comprehensive Income attributable to Royal Caribbean Cruises Ltd. $ 817 $ 458 The accompanying notes are an integral part of these consolidated financial statements 1 ROYAL CARIBBEAN CRUISES LTD. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited; in millions, except per share data) Six Months Ended June 30, 2024 2023 Passenger ticket revenues $ 5,429 $ 4,340 Onboard and other revenues 2,409 2,068 Total revenues 7,838 6,408 Cruise operat