Summary
Royal Caribbean Cruises Ltd. (RCL) reported a strong financial performance for the year ended December 31, 2024, significantly exceeding expectations. The company saw total revenues rise to $16.5 billion, a 18.6% increase from the previous year, driven by robust ticket and onboard revenue performance, supported by a 7.8% capacity increase with the delivery of new ships and higher ticket prices. Net income attributable to shareholders was $2.9 billion, or $10.94 per diluted share, a substantial increase from $1.7 billion in 2023. Adjusted EBITDA reached $6.0 billion, reflecting healthy operational profitability. The company also made significant strides in strengthening its balance sheet by refinancing $6.1 billion of high-cost debt, eliminating dividend restrictions, and securing unsecured debt. RCL successfully achieved its "Trifecta" financial goals (Adjusted EBITDA per APCD, Adjusted EPS, and ROIC) 18 months ahead of schedule. Looking ahead to 2025, RCL anticipates a 5.4% increase in capacity with the introduction of new ships, including the highly anticipated Star of the Seas and Celebrity Xcel. The company also plans to expand its private destination portfolio with new Royal Beach Club openings. RCL's strategic focus on fleet modernization, optimized deployment, and enhanced onboard offerings is expected to continue driving revenue growth and profitability. The company has also reinstated its quarterly dividend, signaling confidence in its financial outlook and commitment to returning capital to shareholders.
Financial Highlights
51 data points| Revenue | $16.48B |
| Cost of Revenue | $8.65B |
| Gross Profit | $7.83B |
| SG&A Expenses | $2.13B |
| Operating Income | $4.11B |
| Net Income | $2.88B |
| EPS (Basic) | $11.00 |
| EPS (Diluted) | $10.94 |
| Shares Outstanding (Basic) | 261.00M |
| Shares Outstanding (Diluted) | 279.00M |
Key Highlights
- 1Total revenues increased by 18.6% to $16.5 billion in 2024, driven by higher capacity, ticket prices, and onboard spending.
- 2Net income attributable to Royal Caribbean Cruises Ltd. was $2.9 billion, or $10.94 per diluted share, up from $1.7 billion in 2023.
- 3Adjusted EBITDA reached $6.0 billion, demonstrating strong operational profitability.
- 4The company achieved its "Trifecta" financial goals (Adjusted EBITDA per APCD, Adjusted EPS, and ROIC) 18 months ahead of schedule.
- 5Capacity is expected to increase by 5.4% in 2025 with the addition of new ships, including Star of the Seas and Celebrity Xcel.
- 6RCL has strengthened its balance sheet by refinancing $6.1 billion of debt and eliminating restrictions on returning capital to shareholders.
- 7The quarterly dividend has been reinstated, with a dividend of $0.55 per share paid in January 2025 and $0.75 per share declared for April 2025.