The company said total revenue for Q1 2024 rose to $2.2 billion from $1.8 billion in 2023, and Adjusted Gross Margin increased 25.6% to $1.6 billion. It cited a 7.9% increase in Capacity Days, along with higher passenger ticket pricing and onboard spending.

1. 01

   The company said total revenue for Q1 2024 rose to $2.2 billion from $1.8 billion in 2023, and Adjusted Gross Margin increased 25.6% to $1.6 billion. It cited a 7.9% increase in Capacity Days, along with higher passenger ticket pricing and onboard spending.

2. 02

   The company said interest expense, net increased to $218.2 million in 2024 from $171.3 million in 2023. The company explained that losses from extinguishment of debt and debt modification costs were $29.0 million in 2024 ($2.4 million in 2023).

3. 03

   The company said its liquidity was approximately $2.4 billion as of March 31, 2024, including cash and cash equivalents of $559.8 million, borrowings available under the $1.2 billion fully undrawn Revolving Loan Facility, and $650 million undrawn commitment, less related fees.

4. 04

   The company said net cash provided by operating activities was $807.2 million in 2024 ($503.3 million in 2023), net cash used in investing activities was $255.2 million, and net cash used in financing activities was $394.5 million. It said advance ticket sales increased $592.2 million.

Key figures

Quarter ended March 31, 2024

Revenue

$2.2B

Operating income

$218M

Net income

$17M

EPS

$0.04

Operating cash flow

$807M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.