Royal Caribbean Cruises Ltd (RCL) 10-Q Quarterly Report April 2021

MIAMI – April 29, 2021 – Royal Caribbean Group (NYSE: RCL) today commented on the business considering the global COVID-19 pandemic and reported financial results for the first quarter of 2021.

Business Update

Since the last business update, the Company has announced new itineraries for this summer for eleven additional ships from the Caribbean and Europe in addition to the four ships already sailing. The initial reaction to these announcements has been positive, highlighting the strong demand for cruising. These cruises are taking place with adjusted passenger capacity and the enhanced health protocols developed with government and health authorities, and guidance from the Healthy Sail Panel.

“We are looking forward to resuming operations out of various ports around the world in the coming months. In addition, we have had very constructive dialogues with the Centers for Disease Control and Prevention (CDC) in recent weeks about resuming cruising in the U.S. in a safe and healthy manner,” said Richard D. Fain, Chairman and CEO. “Last night, the CDC notified us of some clarifications and

The following information was filed by Royal Caribbean Cruises Ltd (RCL) on Thursday, April 29, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/884887/000088488721000011/rcl-20210331.htm

View differences made from one quarter to another to evaluate Royal Caribbean Cruises Ltd's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Royal Caribbean Cruises Ltd.

Continue

Assess how Royal Caribbean Cruises Ltd's management team is paid from their Annual Proxy

Royal Caribbean Cruises Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

Other

Filter Subcategory:

All

Cash Flow

Geography

Expense

Earnings

Product

Income

Debt

Other

Inside Royal Caribbean Cruises Ltd's 10-Q Quarterly Report:

Financial - Shares Highlight
Results of Operations Summary Net Loss attributable to Royal Caribbean Cruises Ltd. and Adjusted Net Loss attributable to Royal Caribbean Cruises Ltd. for the first quarter of 2021 were $(1.13) billion and $(1.08) billion, or $(4.66) and $(4.44) per share on a diluted basis, respectively, reflecting the impact of our suspension of global fleet sailings, compared to Net Loss attributable to Royal Caribbean Cruises Ltd. and Adjusted Net Loss attributable Royal Caribbean Cruises Ltd. of $(1.44) billion and $(310.4) million, or $(6.91) and $(1.48) per share on a diluted basis, respectively, for the first quarter of 2020.

Financial - Cash Flow Highlight
Impairment and Credit Losses Impairment and credit losses for 2021 decreased by $1.1 billion as a result of charges recorded during the quarter ended March 31, 2020 due to the impact of COVID-19 on our operations and cash flows, impacting our long-lived assets related to goodwill, intangibles, vessels and operating lease right-of-use asset, as well as incurring credit losses.
Financial - Cash Flow Highlight
The continued suspension of the majority of our global sailings as a result of COVID-19 has significantly affected our liquidity and cash flow resulting in decreased guest ticket collections and a decrease of Onboard and other revenues of $634.7 million during the first three months in 2021, compared to the same period in 2020.
Revenue - Geography Highlight
Favorable movements in foreign currency exchange rates related to our revenue transactions denominated in currencies other than the United States dollar increased Onboard and other revenues by $2.5 million.
Financial - Expense Highlight
Depreciation and Amortization Expenses Depreciation and amortization expenses for 2021 decreased $14.2 million, or 4.4%, to $310.2 million from $324.3 million in 2020.
Financial - Earnings
Adjusted Net Loss represents net...Read more
Financial - Expense
The decrease Cruise operating expenses...Read more
Financial - Shares
Adjusted Loss per Share ("Adjusted...Read more
Revenue - Product
As we gradually return our...Read more
Financial - Cash Flow
Decreased demand for cruising as...Read more
Other - Other
For cruise ship operations in...Read more
Financial - Expense
Marketing, Selling and Administrative Expenses...Read more
Financial - Expense
Given the fluidity of return...Read more
Financial - Expense
The decrease was primarily due...Read more
Revenue - Geography
The effect of changes in...Read more
Revenue - Product
(10)Represents the net gain recognized...Read more
Other - Other
These non-GAAP 34 financial measures...Read more
Financial - Income
The increases in income were...Read more
Financial - Expense
The decrease was primarily due...Read more
Financial - Debt
The $3.4 billion decrease in...Read more
Other - Other
36 As we transition back...Read more
Financial - Expense
Cruise Operating Expenses Total Cruise...Read more
Revenue - Product
The decrease in Onboard and...Read more
Revenue - Product
Onboard and other revenues also...Read more
Financial - Expense
This is slightly higher than...Read more
Financial - Debt
Debt denominated in other currencies...Read more
Financial - Debt
Debt denominated in other currencies...Read more
Other - Other
CDC Framework for Conditional Sailing...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Royal Caribbean Cruises Ltd provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: RCL
CIK: 884887
Form Type: 10-Q Quarterly Report
Accession Number: 0000884887-21-000011
Submitted to the SEC: Thu Apr 29 2021 5:24:11 PM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Water Transportation

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/rcl/0000884887-21-000011.htm

Royal Caribbean Cruises Ltd (RCL) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

SEC Filings

RCL Valuations

RCL Annual Reports

RCL Quarterly Reports

RCL Corporate News