Key Statistics

Current Financial Information

Type Q1* Q2 Q3 Q4 YTD*
(in millions, except Yields and per share data)     
Revenues$3,728   $3,728
Gross Margin Yield Change60.3%   60.3%
Net Yield Change19.5%   19.5%
Cruise Operating Expenses$2,056   $2,056
Gross Cruise Costs$2,591   $2,591
Net Cruise Costs$1,900   $1,900
Operating Income (Loss)$750   $750
Net Income (Loss) attributable to RCCL as Reported$360   $360
Loss per Share (Diluted)$1.35   $1.35
Dividend Declared per Common Share$0.00   $0.00
Earnings Release Date25-Apr-24   25-Apr-24
Figures are provided on an as reported basis.     

*Starting in Q1 2023 we have disclosed and reconciled Gross Margin Yields and Net Yields, as defined in our Quarterly Report on Form 10-Q for the three months eneded March 31, 2023. We utililze these financial metrics to measure relevant rate comparisons to the corresponding periods in 2019, which is the last year of normalized operations, given our 2022 and 2021 reduction in capacity and revenues, due to the impact of the COVID-19 pandemic on our operations.

Historical Financial Information

2023
TypeQ1Q2Q3Q4YTD
(in millions, except Yields and per share data)     
Revenues$2,885$3,523$4,160$3,331$13,900
Gross Margin Yield Change-12.4%13.1%19.1%30.9%13.2%
Net Yield Change5.1%12.6%16.9%17.3%13.2%
Cruise Operating Expenses$1,793$1,955$2,137$1,890$7,775
Gross Cruise Costs$2,254$2,390$2,530$2,393$9,567
Net Cruise Costs$1,702$1,648$1,637$1,759$6,747
Operating Income (Loss)$272$772$1,265$570$2,878
Net Income (Loss) attributable to RCCL as Reported($48)$459$1,009$278$1,697
Loss per Share (Diluted)($0.19)$1.70$3.65$1.06$6.31
Dividend Declared per Common Share$0.00$0.00$0.00$0.00$0.00
Earnings Release Date4-May-2327-JUL-2326-Oct-231-Feb-241-Feb-24
Figures are provided on an as reported basis     
2022
TypeQ1Q2Q3Q4YTD
(in thousands, except Yields and per share data)     
Revenues$1,059,231$2,184,242$2,993,075$2,603,992$8,840,540
Gross Yield Change     
Net Yield Change     
Cruise Operating Expenses$1,184,769$1,690,862$1,956,263$1,782,442$6,614,336
Gross Cruise Costs$1,578,799$2,062,287$2,329,379$2,226,800$8,197,265
Net Cruise Costs$1,353,044$1,575,956$1,620,536$1,682,542$6,232,078
Operating Loss($859,208)($218,644)$298,425$15,451($763,976)
Net (Loss) attributable to RCL as Reported($1,167,142)($521,582)$32,968($500,206)($2,155,962)
Loss per Share (Diluted)($4.58)($2.05)$0.13($1.96)($8.45)
Dividend Declared per Common Share$0.00$0.00$0.00$0.00$0.00
Earnings Release Date5-May-202228-Jul-223-Nov-227-Feb-237-Feb-23
Figures are provided on an as reported basis     
2021
TypeQ1Q2Q3Q4YTD
(in thousands, except Yields and per share data)     
Revenues$42,014$50,914$456,958$982,247$1,532,133
Gross Yield Change     
Net Yield Change     
Operating Expenses$283,487$424,830$813,691$1,135,504$2,657,512
Gross Cruise Costs     
Net Cruise Costs     
Operating Loss($809,231)($1,023,534)($1,005,824)($1,031,745)($3,870,334)
Net (Loss) attributable to RCL as Reported($1,131,722)($1,347,255)($1,424,554)($1,356,968)($5,260,499)
Loss per Share (Diluted)($4.66)($5.29)($5.59)($5.33)($20.89)
Dividend Declared per Common Share$0.00$0.00$0.00$0.00$0.00
Earnings Release Date29-Apr-214-Aug-2129-Oct-2104-Feb-2204-Feb-22
Figures are provided on an as reported basis     
2020
TypeQ1Q2Q3Q4YTD
(in thousands, except Yields and per share data)     
Revenues$2,032,750$175,605($33,688)$34,139$2,208,805
Gross Yield Change-0.02%    
Net Yield Change-1.60%    
Operating Expenses$1,510,819$680,420$308,609$265,257$2,765,108
Gross Cruise Costs$1,894,666    
Net Cruise Costs$1,455,399    
Operating (Loss) Income($1,306,407)($1,282,487)($996,114)($1,016,545)($4,601,557)
Net (Loss) Income attributable to RCL as Reported($1,444,479)($1,639,292)($1,346,756)($1,366,933)($5,797,462)
Loss per Share (Diluted)($6.91)($7.83)($6.29)($6.09)($27.05)
Dividend Declared per Common Share$0.78$0.00$0.00$0.00$0.78
Earnings Release Date21-May-2010-Aug-2029-Oct-2022-Feb-2122-Feb-21
Figures are provided on an as reported basis     
2019
TypeQ1Q2Q3Q4YTD
(in thousands, except Yields and per share data)     
Revenues$2,439,767$2,806,631$3,186,850$2,517,413$10,950,661
Gross Yield Change8.80%8.20%5.40%5.68%7.00%
Net Yield Change7.20%8.10%5.20%6.23%6.70%
Operating Expenses$1,413,704$1,544,504$1,623,038$1,481,519$6,062,765
Gross Cruise Costs$1,827,465$1,921,378$1,974,901$1,882,519$7,606,263
Net Cruise Costs$1,329,140$1,307,989$1,285,753$1,372,772$5,295,654
Operating Income$318,831$573,653$890,792$299,425$2,082,701
Net Income attributable to RCL as Reported$249,681$472,830$883,240$273,136$1,878,887
Earnings per Share (Diluted)$1.19$2.25$4.20$1.30$8.95
Dividend Declared per Common Share$0.70$0.70$0.78$0.78$2.96
Earnings Release Date1-May-1925-Jul-1930-Oct-194-Feb-204-Feb-20
Figures are provided on an as reported basis     
2018
TypeQ1Q2Q3Q4YTD
Revenues$2,027,756$2,337,605$2,796,187$2,332,301$9,493,849
Gross Yield Change5.08%3.65%1.04%6.08%3.95%
Net Yield Change7.04%3.82%1.76%5.49%4.50%
Operating Expenses$1,176,019$1,314,411$1,411,364$1,360,413$5,262,207
Gross Cruise Costs$1,522,618$1,611,408$1,710,623$1,686,927$6,531,575
Net Cruise Costs$1,132,472$1,110,863$1,109,556$1,207,591$4,560,481
Operating Income$274,146$456,895$799,733$364,027$1,894,801
Net Income as Reported$218,653$466,295$810,391$315,703$1,811,042
Earnings per Share (Diluted)$1.02$2.19$3.86$1.50$8.56
Dividend per Common Share$0.60$0.60$0.70$0.70$2.60
Earnings Release Date26-Apr-201802-Aug-201825-Oct-201830-Jan-201930-Jan-2019
2017
TypeQ1Q2Q3Q4YTD
Revenues$2,008,560$2,195,274$2,569,544$2,004,467$8,777,845
Gross Yield Change3.75%8.74%6.23%5.61%5.87%
Net Yield Change5.92%9.89%5.89%5.52%6.54%
Operating Expenses$1,175,824$1,256,785$1,318,269$1,145,701$4,896,579
Gross Cruise Costs$1,493,289$1,540,640$1,591,906$1,456,760$6,082,595
Net Cruise Costs$1,077,047$1,067,872$1,025,268$1,053,686$4,223,873
Operating Income$279,522$419,697$737,488$307,349$1,744,056
Net Income as Reported$214,726$369,526$752,842$288,039$1,625,133
Earnings per Share (Diluted)$0.99$1.71$3.49$1.34$7.53
Dividend per Common Share$0.48$0.48$0.60$0.60$2.16
Earnings Release Date28-Apr-20171-Aug-177-Nov-1724-Jan-18 
2016
TypeQ1Q2Q3Q4YTD
Revenues$1,917,795$2,105,262$2,563,741$1,909,603$8,496,401
Gross Yield Change0.88%-3.12%-1.52%0.62%-0.86%
Net Yield Change3.44%-0.46%0.43%3.39%1.57%
Operating Expenses$1,241,578$1,310,587$1,340,123$1,123,251$5,015,539
Gross Cruise Costs$1,543,599$1,596,944$1,597,553$1,377,733$6,115,829
Net Cruise Costs$1,112,564$1,125,344$1,036,733$993,268$4,273,995
Operating Income$163,127$282,273$734,963$296,842$1,477,205
Net Income as Reported$99,140$229,905$693,257$261,086$1,283.388
Earnings per Share (Diluted)$0.46$1.06$3.21$1.21$5.93
Dividend per Common Share$0.375$0.375$0.48$0.48$1.71
Earnings Release Date29-Apr-1602-Aug-1628-Oct-1626-Jan-17 
2015
TypeQ1Q2Q3Q4YTD
Revenues$1,815,599$2,058,322$2,523,100$1,902,053$8,299,074
Gross Yield Change-7.15%-1.02%-1.05%-1.36%-2.46%
Net Yield Change-5.39%-0.16%0.18%0.56%-1.01%
Operating Expenses$1,222,617$1,316,409$1,387,026$1,173,341$5,099,393
Gross Cruise Costs$1,509,449$1,590,557$1,643,086$1,442,805$6,185,897
Net Cruise Costs$1,068,792$1,087,617$1,054,716$1,020,890$4,232,015
Operating Income$105,682$261,297$258,005$249,918$874,902
Net Income as Reported$45,230$184,967$228,787$206,799$665,783
Earnings per Share (Diluted)$0.20$0.84$1.03$0.943.02
Dividend per Common Share$0.30$0.30$0.375$0.375$1.35
Earnings Release Date20-Apr-1531-Jul-1523-Oct-1502-Feb-16 

Capital Structure*

Capital Structure* (see 10-K)

Type202320222021202020192018201720162015
Total Debt (in millions)$21,452$23,391$21,090$19,329,043$11,034,876$10,777,699$7,539,451$9,387,436$8,527,243
Equity (in millions)$4,899$2,869$5,086$8,760,669$12,163,846$11,105,461$10,702,303$9,121,412$8,063,039
Net Debt/Capital81.05%88.21%78.34%64.1%47.0%48.6%40.9%50.4%51.0%

Fleet Data

Royal Caribbean International
NameYear in ServiceEstimated CapacityGross Tons
Icon of the Seas20235,610250,800
Wonder of the Seas20225,734236,857
Odyssey of the Seas20214,200169,000
Spectrum of the Seas20194,250169,000
Symphony of the Seas20185,500230,000
Harmony of the Seas20165,450225,250
Ovation of the Seas20164,100167,800
Anthem of the Seas20154,150166,750
Quantum of the Seas20144,150166,750
Allure of the Seas20105,450222,900
Oasis of the Seas20095,450222,900
Independence of the Seas20083,850154,400
Liberty of the Seas20073,750154,400
Freedom of the Seas20063,750154,400
Jewel of the Seas20042,15090,050
Mariner of the Seas20033,300142,000
Serenade of the Seas20032,10090,050
Navigator of the Seas20023,250142,000
Brilliance of the Seas20022,10090,050
Adventure of the Seas20013,100142,000
Radiance of the Seas20012,10090,050
Explorer of the Seas20003,250142,000
Voyager of the Seas19993,250142,000
Vision of the Seas19982,00078,450
Enchantment of the Seas19972,25081,500
Rhapsody of the Seas19972,00078,450
Grandeur of the Seas19961,95074,100
Celebrity Cruises
NameYear in ServiceEstimated CapacityGross Tons
Celebrity Ascent20233,260141,420
Celebrity Beyond20223,260140,600
Celebrity Apex20202,900129,500
Celebrity Flora20191005,739
Celebrity Edge20182,900129,500
Celebrity Xploration201620320
Celebrity Reflection20123,000126,000
Celebrity Silhouette20112,850122,400
Celebrity Eclipse20102,850122,000
Celebrity Equinox20092,850122,000
Celebrity Solstice20082,850122,000
Celebrity Xpedition20041002,800
Celebrity Constellation20022,15090,200
Celebrity Summit20012,15091,000
Celebrity Infinity20012,15090,200
Celebrity Millennium20002,15090,200
Silversea
NameYear in ServiceEstimated CapacityGross Tons
Silver Nova202373054,700
Silver Endeavour202222020,450
Silver Dawn202159640,700
Silver Moon202059640,700
Silver Origin20201005,800
Silver Muse201755040,700
Silver Spirit200960036,000
Silver Whisper200135028,250
Silver Shadow200035028,250
Silver Wind199525016,900
Silver Cloud199425016,900
TUI Cruises
NameYear in ServiceEstimated CapacityGross Tons
Mein Schiff 2 (new)20192,894111,500
Mein Schiff 1 (new)20182,850111,500
Mein Schiff 620172,50098,800
Mein Schiff 520162,50098,750
Mein Schiff 420152,50099,500
Mein Schiff 320142,50099,500
Hapag-LLoyd Cruises
NameYear in ServiceEstimated CapacityGross Tons
Hanseatic Spirit202123016,100
Hanseatic Nature201923016,100
Hanseatic Inspiration201923016,100
Europa 2201350042,830
Europa199940028,890

Fleet Expansion Projects

Royal Caribbean International
NameExpected Delivery DateEstimated Capacity
Utopia of the Seas2nd Quarter 20245,700
Star of the Seas2nd Quarter 20255,600
Icon Class 32nd Quarter 20265,600
Oasis 72nd Quarter 20285,700
Celebrity Cruises
NameExpected Delivery DateEstimated Capacity
Celebrity Xcel4th Quarter 20253,250
Silversea
NameExpected Delivery DateEstimated Capacity
Silver Ray2nd Quarter 2024730
TUI Cruises
NameExpected Delivery DateEstimated Capacity
Mein Schiff 72nd Quarter 20242,900
Mein Schiff Relax4th Quarter 20244,100
TUI Unnamed2nd Quarter 20264,100