Royal Caribbean Cruises Ltd. delivered exceptional financial performance in 2024, reporting net income of $2.9 billion, or $10.94 per diluted share, compared to $1.7 billion in 2023. Total revenues increased 18.6% to $16.5 billion, driven by strong ticket revenue and onboard spending, with gross margin yields up 23.8% and net yields rising 11.5%. The company achieved its Trifecta goals 18 months ahead of schedule, with ROIC reaching 16.1%.The company made significant progress in strengthening its balance sheet, refinancing approximately $6.1 billion of high-cost debt and eliminating all security and guarantees. Operating income grew to $4.1 billion while Adjusted EBITDA reached $6.0 billion. During the year, Royal Caribbean took delivery of two new ships - Utopia of the Seas and Silver Ray - and announced expansion of its private destination portfolio with Royal Beach Club...Show More

Royal Caribbean Cruises Ltd. delivered exceptional financial performance in 2024, reporting net income of $2.9 billion, or $10.94 per diluted share, compared to $1.7 billion in 2023. Total revenues increased 18.6% to $16.5 billion, driven by strong ticket revenue and onboard spending, with gross margin yields up 23.8% and net yields rising 11.5%. The company achieved its Trifecta goals 18 months ahead of schedule, with ROIC reaching 16.1%.The company made significant progress in strengthening its balance sheet, refinancing approximately $6.1 billion of high-cost debt and eliminating all security and guarantees. Operating income grew to $4.1 billion while Adjusted EBITDA reached $6.0 billion. During the year, Royal Caribbean took delivery of two new ships - Utopia of the Seas and Silver Ray - and announced expansion of its private destination portfolio with Royal Beach Club Cozumel and Perfect Day Mexico.Looking ahead to 2025, capacity is expected to increase by 5.4% with the addition of Star of the Seas and Celebrity Xcel, plus full-year operations of recently delivered ships. The company will open its first Royal Beach Club in Paradise Island, Bahamas, and advance development of new destinations including Silversea's hotel in Puerto Williams, Chile. Management expects continued growth in net yields and total revenues driven by new ships, optimized deployment and enhanced onboard offerings.