Royal Caribbean Cruises Ltd. has recently released its 10-Q report, providing an insight into the company's financial performance for the quarter ended June 30, 2024. The company, founded in 1968 and headquartered in Miami, Florida, operates as a global cruise company, offering a variety of itineraries under its Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands. As of February 21, 2024, the company operated 65 ships.
In the 10-Q report, Royal Caribbean Cruises Ltd. provided a detailed discussion under "Management’s Discussion and Analysis of Financial Condition and Results of Operations," cautioning about forward-looking statements and highlighting the risks and uncertainties that could impact future results. The report also delved into the company's financial presentation, including a breakdown of revenues and cruise operating expenses. It outlined the seasonality of the company's revenues, with strong demand historically observed during the Northern Hemisphere’s summer months and holidays.
The report further provided a comprehensive description of certain line items, including revenues and cruise operating expenses. It also detailed various operational and financial metrics used by the company to evaluate performance, such as Adjusted EBITDA, Adjusted EPS, Available Passenger Cruise Days (APCD), EBITDA, Gross Cruise Costs, Net Cruise Costs, and Gross Margin Yield, among others.
In the "Results of Operations Summary," the 10-Q report highlighted the net income attributable to Royal Caribbean Cruises Ltd. and adjusted net income for the second quarter of 2024, which amounted to $854 million and $882 million, respectively, compared to $459 million and $492 million for the same period in 2023. The report also outlined significant items for the quarter and six months ended June 30, 2024, including changes in total revenues and total cruise operating expenses, as well as notable financial transactions and ship deliveries during the period.
The report provided a detailed breakdown of operating results for the quarter ended June 30, 2024, compared to the same period in 2023, outlining the percentages of total revenues and expenses attributed to various line items, such as passenger ticket revenues, onboard and other revenues, cruise operating expenses, marketing, selling and administrative expenses, and depreciation and amortization expenses.
The market has reacted to these announcements by moving the company's shares -7.6% to a price of $152.02. If you want to know more, read the company's complete 10-Q report here.
