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Royal Caribbean Cruises Ltd. (RCL) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $16.5 billion, an increase from $13.9 billion in 2023, attributed to higher ticket prices and onboard spending, along with increased capacity.
Net income attributable to Royal Caribbean Cruises Ltd. was $2.9 billion, or $10.94 per diluted share, compared to $1.7 billion, or $6.31 per diluted share in 2023.
The company reported an adjusted EBITDA of $6.0 billion, reflecting strong financial performance with a significant increase in Gross Margin Yield and Net Yields.
Total cruise operating expenses increased to $8.7 billion from $7.8 billion in 2023, primarily due to increased capacity and higher drydock and maintenance expenses.
Royal Caribbean took delivery of two new ships, Utopia of the Seas and Silver Ray, and announced expansion plans for private destinations.
The company refinanced approximately $6.1 billion of high-cost debt, improving its debt maturity profile and eliminating all secured and guaranteed debt.
Royal Caribbean reinstated its quarterly dividend, paying $0.40 per share in October 2024 and $0.55 per share in January 2025.
For 2025, the company expects a capacity increase of 5.4% with the addition of new ships and the opening of new destinations, aiming to drive growth in Net Yields and Total Revenues.
The filing highlights the company's focus on sustainability, with initiatives aimed at achieving net zero emissions by 2050 and delivering a net zero capable ship by 2035.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Royal Caribbean Cruises Ltd. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.