Royal Caribbean Group said net income attributable to Royal Caribbean Cruises Ltd. for Q1 2025 was $730 million, and adjusted net income was $744 million. For Q1 2024, net income and adjusted net income were $360 million and $478 million, respectively.

10-QQuarterly reportFiled Apr 29, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Royal Caribbean Group said net income attributable to Royal Caribbean Cruises Ltd. for Q1 2025 was $730 million, and adjusted net income was $744 million. For Q1 2024, net income and adjusted net income were $360 million and $478 million, respectively.
The company said total revenues for Q1 2025 increased $271 million to $4 billion from $3.7 billion in Q1 2024. It cited increases in capacity, ticket prices and onboard spending as factors for the growth.
Royal Caribbean Group said interest expense, net of interest capitalized, for Q1 2025 decreased $175 million to $249 million from $424 million in Q1 2024. The company cited a loss on extinguishment of debt of $116 million in 2024 compared to inducement expense of $10.2 million on the partial settlement of convertible notes in 2025.
The company said net cash provided by operating activities for Q1 2025 was $1.6 billion, compared to $1.3 billion for Q1 2024. As of March 31, 2025, liquidity was $4.5 billion, consisting of cash and cash equivalents of $0.4 billion and undrawn revolving credit facilities of $4.1 billion.

Key figures

Quarter ended March 31, 2025

Revenue: $4.0B
Operating income: $945M
Net income: $730M
EPS: $2.70
Operating cash flow: $1.6B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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

Q1 2025 Net Income and Adjusted Net Income

Royal Caribbean Group said net income attributable to Royal Caribbean Cruises Ltd. for Q1 2025 was $730 million, and adjusted net income was $744 million. For Q1 2024, net income and adjusted net income were $360 million and $478 million, respectively.

Source · Based on the MD&A text of the filing

Total Revenues Increase of $271 million

The company said total revenues for Q1 2025 increased $271 million to $4 billion from $3.7 billion in Q1 2024. It cited increases in capacity, ticket prices and onboard spending as factors for the growth.

Source · Based on the MD&A text of the filing

Decrease in Interest Expense and Debt-Related Items

Royal Caribbean Group said interest expense, net of interest capitalized, for Q1 2025 decreased $175 million to $249 million from $424 million in Q1 2024. The company cited a loss on extinguishment of debt of $116 million in 2024 compared to inducement expense of $10.2 million on the partial settlement of convertible notes in 2025.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Liquidity as of March 31

The company said net cash provided by operating activities for Q1 2025 was $1.6 billion, compared to $1.3 billion for Q1 2024. As of March 31, 2025, liquidity was $4.5 billion, consisting of cash and cash equivalents of $0.4 billion and undrawn revolving credit facilities of $4.1 billion.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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