Sector: Consumer Discretionary|Industry: Travel Services|Market Cap: $61.71B|Employees: 98.2K
Royal Caribbean Cruises Ltd. is a global cruise company that operates three main brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. They also hold a 50% joint venture in TUI Cruises. The company's ships offer a wide variety of itineraries across all seven continents. They compete on service, innovation, and quality of ships.
Total revenues increased by $587 million in Q2 2024 compared to Q2 2023, primarily due to a 4.5% increase in capacity and improved pricing. Passenger ticket revenues rose by 18.1% and onboard revenues increased by 13.3%.
Net income attributable to Royal Caribbean Cruises Ltd. was $854 million in Q2 2024, a substantial increase from $459 million in Q2 2023. Diluted earnings per share increased from $1.70 to $3.11.
Total cruise operating expenses increased by $197 million in Q2 2024 compared to Q2 2023, primarily due to a 4.5% increase in capacity and higher drydock and maintenance expenses.