RCL Royal Caribbean

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group, is a cruise vacation company that owns four global brands: Royal Caribbean International, Celebrity Cruises, Azamara and Silversea. Royal Caribbean Group is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, our brands operate 61 ships with an additional 15 on order as of December 21, 2020.
Company profile
Ticker
RCL
Exchange
Website
CEO
Richard Fain
Employees
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
980081645
RCL stock data
()
News
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16 Apr 21
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15 Apr 21
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13 Apr 21
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11 Apr 21
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8 Apr 21
Press releases
Thinking about trading options or stock in CBS Corp, Ford Motor, Royal Caribbean Cruises, AT&T, or American Airlines?
7 Apr 21
Royal Caribbean Extends Singapore Season, Adding New Cruises On Quantum Of The Seas
31 Mar 21
An Epic Odyssey Continues - Royal Caribbean Welcomes Brand-New Ship
31 Mar 21
Royal Caribbean Thanks Emergency Services, NHS And Armed Forces With UK Homecoming, Set For This Summer
31 Mar 21
Royal Caribbean Group announces closing of senior unsecured notes offering
29 Mar 21
Calendar
25 Feb 21
17 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 3.68B | 3.68B | 3.68B | 3.68B | 3.68B | 3.68B |
Cash burn (monthly) | (positive/no burn) | (positive/no burn) | 338.85M | 383.46M | 275.13M | 310.97M |
Cash used (since last report) | n/a | n/a | 1.21B | 1.37B | 981.75M | 1.11B |
Cash remaining | n/a | n/a | 2.48B | 2.32B | 2.7B | 2.57B |
Runway (months of cash) | n/a | n/a | 7.3 | 6.0 | 9.8 | 8.3 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
12 Apr 21 | Jason T Liberty | Common Stock | Sell | Dispose S | No | Yes | 88.77 | 3,000 | 266.31K | 93,789 |
7 Apr 21 | Henry L Pujol | Common Stock | Sell | Dispose S | No | Yes | 95 | 15,208 | 1.44M | 39,544 |
6 Apr 21 | Henry L Pujol | Common Stock | Sell | Dispose S | No | Yes | 89.6401 | 850 | 76.19K | 54,752 |
6 Apr 21 | Henry L Pujol | Common Stock | Sell | Dispose S | No | Yes | 89.1998 | 4,219 | 376.33K | 55,602 |
6 Apr 21 | Bradley H Stein | Common Stock | Sell | Dispose S | No | Yes | 89.6188 | 1,599 | 143.3K | 19,698 |
6 Apr 21 | Bradley H Stein | Common Stock | Sell | Dispose S | No | Yes | 89.1843 | 5,101 | 454.93K | 21,297 |
5 Apr 21 | Michael W Bayley | Common Stock | Sell | Dispose S | No | Yes | 91.224 | 1,000 | 91.22K | 126,676 |
5 Apr 21 | Michael W Bayley | Common Stock | Sell | Dispose S | No | Yes | 90.6655 | 29,904 | 2.71M | 127,676 |
5 Apr 21 | Michael W Bayley | Common Stock | Sell | Dispose S | No | Yes | 89.5545 | 25,919 | 2.32M | 157,580 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
63.8% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 628 |
Opened positions | 157 |
Closed positions | 78 |
Increased positions | 214 |
Reduced positions | 151 |
13F shares |
Current |
---|---|
Total value | 12.13B |
Total shares | 162.35M |
Total puts | 12.48M |
Total calls | 12.02M |
Total put/call ratio | 1.0 |
Largest owners |
Shares | Value |
---|---|---|
Capital Research Global Investors | 21.82M | $1.63B |
Vanguard | 19.57M | $1.46B |
Capital International Investors | 12.43M | $928.65M |
BLK Blackrock | 11.63M | $868.97M |
Osiris | 11.5M | $858.7M |
STT State Street | 7.46M | $557.06M |
Primecap Management | 5.64M | $421.11M |
FMR | 5.5M | $410.95M |
Canada Pension Plan Investment Board | 4.88M | $364.51M |
Geode Capital Management | 3.46M | $257.93M |
Financial report summary
?Risks
- The COVID-19 pandemic has had, and will continue to have, a material adverse impact on our business and results of operations. The global spread of COVID-19 and the unprecedented responses by governments and other authorities to control and contain the disease, has caused significant disruptions, created new risks, and exacerbated existing risks to our business.
- We may not be able to obtain sufficient financing or capital for our needs or may not be able to do so on terms that are acceptable or consistent with our expectations.
- Our substantial debt could adversely affect our financial condition.
- Despite our leverage, we may incur more debt, which could adversely affect our business.
- The terms of existing debt financing gives, and any future preferred equity or debt financing may give, holders of any preferred securities or debt securities rights that are senior to rights of our common shareholders or impose more stringent operating restrictions on our company.
- We will require a significant amount of cash to service our debt and sustain our operations. Our ability to generate cash depends on many factors beyond our control, and we may not be able to generate cash required to service our debt.
- If we elect to settle conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, conversions of our convertible notes may result in substantial dilution for our existing shareholders.
- We did not declare dividends on our common stock in the quarters ended June 30, 2020, September 30, 2020 and December 31, 2020 and do not expect to pay dividends on our common stock for the foreseeable future.
- Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly
- Adverse worldwide economic or other conditions could reduce the demand for cruises and passenger spending, adversely impacting our operating results, cash flows and financial condition including impairing the value of our goodwill, ships, trademarks and other assets and potentially affecting other critical accounting estimates where the change may be material to our operating results.
- Our operating costs could increase due to market forces and economic or geopolitical factors beyond our control.
- Any further impairment of our goodwill, long-lived assets, equity investments and notes receivable could adversely affect our financial condition and operating results.
- Price increases for commercial airline service for our guests or major changes or reduction in commercial airline service and/or availability could adversely impact the demand for cruises and undermine our ability to provide reasonably priced vacation packages to our guests.
- Fears of terrorist attacks, war, and other hostilities could have a negative impact on our results of operations.
- Disease outbreaks and an increase in concern about the risk of illness could adversely impact our business and results from operations.
- Incidents on ships, at port facilities, land destinations and/or affecting the cruise vacation industry in general, and the associated negative media coverage and publicity, could affect our reputation and impact our sales and results of operations.
- Significant weather, climate events and/or natural disasters could adversely impact our business and results from operations.
- Our reliance on shipyards, their subcontractors and our suppliers to implement our newbuild and ship upgrade programs and to repair and maintain our ships exposes us to risks which, if realized, could adversely impact our business.
- An increase in capacity worldwide or excess capacity in a particular market could adversely impact our cruise sales and/or pricing.
- Unavailability of ports of call may adversely affect our results of operations.
- We may lose business to competitors throughout the vacation market.
- If we are unable to appropriately balance our cost management and capital allocation strategies with our goal of satisfying guest expectations, it may adversely impact our business success.
- Our attempts to expand our business into new markets and new ventures may not be successful.
- Risks associated with our development and operation of key land-based destination projects may adversely impact our business or results of operations.
- Our reliance on travel agencies to sell and market our cruises exposes us to certain risks which, if realized, could adversely impact our business.
- Business activities that involve our co-investments with third parties may subject us to additional risks.
- Past or pending business acquisitions or potential acquisitions that we may decide to pursue in the future carry inherent risks which could adversely impact our financial performance and condition.
- We rely on supply chain vendors and third-party service providers who are integral to the operations of our businesses. These vendors and service providers are also affected by COVID-19 and may be unable or unwilling to deliver on their commitments or may act in ways that could harm our business.
- The potential unavailability of insurance coverage, an inability to obtain insurance coverage at commercially reasonable rates or our failure to have coverage in sufficient amounts to cover our incurred losses may adversely affect our financial condition or results of operations.
- Disruptions in our shoreside or shipboard operations or our information systems may adversely affect our results of operations.
- Provisions of our Articles of Incorporation, By-Laws and Liberian law could inhibit others from acquiring us, prevent a change of control, and may prevent efforts by our shareholders to change our management.
- Changes in U.S. or other countries’ foreign travel policy may affect our results of operations.
- Growing anti-tourism sentiments and environmental concerns related to cruising could adversely impact our operations.
- Environmental, labor, health and safety, financial responsibility and other maritime regulations could affect operations and increase operating costs.
- A change in our tax status under the U.S. Internal Revenue Code, or other jurisdictions, may have adverse effects on our income.
- We are not a U.S. corporation and our shareholders may be subject to the uncertainties of a foreign legal system in protecting their interests.
- Conducting business globally may result in increased costs and other risks.
- Fluctuations in foreign currency exchange rates, fuel prices and interest rates could affect our financial results.
- The loss of key personnel, our inability to recruit or retain qualified personnel, or disruptions among our shipboard personnel due to strained employee relations could adversely affect our results of operations.
- If we are unable to keep pace with developments in technology or technological obsolescence, including technology in response to the COVID-19 pandemic, our operations or competitive position could become impaired.
- We are exposed to cyber security attacks and data breaches, including the risks and costs associated with protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and business partners.
- Litigation, enforcement actions, fines or penalties could adversely impact our financial condition or results of operations and/or damage our reputation.
Management Discussion
- In this section, references to 2020 refer to the year ended December 31, 2020 and references to 2019 refer to the year ended December 31, 2019.
- Total revenues for 2020 decreased $8.7 billion, or 79.8%, to $2.2 billion from $11.0 billion in 2019.
- Passenger ticket revenues comprised 68.1% of our 2020 total revenues. Passenger ticket revenues decreased by $6.4 billion, or 80.9% from 2019. The decrease was primarily due to a 79.4% decrease in capacity driven by our cancelled sailings resulting from the suspension of our global fleet operations since mid-March 2020 in response to the COVID-19 pandemic.
Content analysis
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Readability |
H.S. sophomore Good
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
25 Feb 21
10-Q
2020 Q3
Quarterly report
4 Nov 20
10-Q
2020 Q2
Quarterly report
10 Aug 20
10-Q
2020 Q1
Quarterly report
21 May 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
25 Jul 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
22 Feb 19
10-Q
2018 Q3
Quarterly report
25 Oct 18
Current reports
8-K
Other Events
8 Apr 21
8-K
Entry into a Material Definitive Agreement
1 Apr 21
8-K
Royal Caribbean Group Announces Closing of Senior Unsecured Notes Offering
30 Mar 21
8-K
Royal Caribbean group Announces Pricing Of $1.5 Billion Senior unsecured Notes
24 Mar 21
8-K
Royal Caribbean Group Announces Proposed Offering of Senior Unsecured Notes
24 Mar 21
8-K
Entry into a Material Definitive Agreement
19 Mar 21
8-K
Other Events
19 Mar 21
8-K
Entry into a Material Definitive Agreement
16 Mar 21
8-K
Other Events
11 Mar 21
8-K
Royal Caribbean Group announces closing of offering of 16,938,148 shares of common stock
3 Mar 21
Registration and prospectus
424B5
Prospectus supplement for primary offering
3 Mar 21
424B5
Prospectus supplement for primary offering
1 Mar 21
S-3ASR
Automatic shelf registration
1 Mar 21
424B5
Prospectus supplement for primary offering
3 Dec 20
424B5
Prospectus supplement for primary offering
15 Oct 20
FWP
Free writing prospectus
13 Oct 20
424B5
Prospectus supplement for primary offering
13 Oct 20
S-8
Registration of securities for employees
16 Nov 18
S-3ASR
Automatic shelf registration
25 Feb 18
424B5
Prospectus supplement for primary offering
21 Nov 17
Proxies
DEFA14A
Additional proxy soliciting materials
17 Apr 20
DEF 14A
Definitive proxy
17 Apr 20
DEFA14A
Additional proxy soliciting materials
18 Apr 19
DEF 14A
Definitive proxy
18 Apr 19
DEF 14A
Definitive proxy
22 Apr 18
DEF 14A
Definitive proxy
19 Apr 17
DEFA14A
Additional proxy soliciting materials
11 Apr 16
DEFA14A
Additional proxy soliciting materials
7 Apr 16
DEF 14A
Definitive proxy
7 Apr 16
DEF 14A
Definitive proxy
16 Apr 15
Other
UPLOAD
Letter from SEC
10 Jun 19
CORRESP
Correspondence with SEC
13 May 19
UPLOAD
Letter from SEC
29 Apr 19
UPLOAD
Letter from SEC
3 May 17
CORRESP
Correspondence with SEC
2 May 17
UPLOAD
Letter from SEC
18 Apr 17
UPLOAD
Letter from SEC
3 Aug 16
CORRESP
Correspondence with SEC
8 Jun 16
CORRESP
Correspondence with SEC
1 Jun 16
UPLOAD
Letter from SEC
18 May 16
Ownership
4
ROYAL CARIBBEAN CRUISES / Jason T Liberty ownership change
13 Apr 21
4
ROYAL CARIBBEAN CRUISES / Henry L Pujol ownership change
8 Apr 21
4
ROYAL CARIBBEAN CRUISES / Bradley H Stein ownership change
7 Apr 21
4
ROYAL CARIBBEAN CRUISES / Henry L Pujol ownership change
7 Apr 21
4
ROYAL CARIBBEAN CRUISES / Lisa Lutoff-Perlo ownership change
6 Apr 21
4
ROYAL CARIBBEAN CRUISES / Jason T Liberty ownership change
6 Apr 21
4
ROYAL CARIBBEAN CRUISES / Michael W Bayley ownership change
6 Apr 21
4/A
ROYAL CARIBBEAN CRUISES / Maritza Gomez Montiel ownership change
29 Mar 21
4
ROYAL CARIBBEAN CRUISES / Bradley H Stein ownership change
26 Mar 21
4
ROYAL CARIBBEAN CRUISES / Henry L Pujol ownership change
26 Mar 21
Patents
APP
Utility
Text Classification and Sentimentization with Visualization
12 Aug 20
A text classification method includes loading a corpus of text that different words organized as different collections of comments and concurrently submitting each of the comments to a topic modeler and a sentiment analysis engine, and receiving for each of the comments, a set of topics likely to be associated with a corresponding one of the comments and an associated sentiment.
APP
Utility
Augmented Reality Tour Guide
5 Aug 20
In augmented reality self-guided tour, different augmented reality views are received in a mobile computing device.
GRANT
Utility
Virtual reality dining
27 Jul 20
A method, system and computer program product for virtual reality dining includes establishing an index of different human consumables positioned on a sensory surface of a serving tray and, generating in a display of a virtual reality headset, a rendering both of a thematic visual background and also a display of different graphical representations of corresponding ones of the different human consumables at different positions consistent with the index.
GRANT
Utility
High throughput passenger identification in portal monitoring
13 Jul 20
The present invention provides for high throughput passenger identification in portal security.
GRANT
Design
Trampoline enclosure
18 May 20
Inventors: Analise Calleiro, Dieter Brell, Robert Levash
Transcripts
2020 Q4
Earnings call transcript
22 Feb 21
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
10 Aug 20
2020 Q1
Earnings call transcript
20 May 20
2019 Q4
Earnings call transcript
4 Feb 20
2019 Q3
Earnings call transcript
30 Oct 19
2019 Q2
Earnings call transcript
25 Jul 19
2019 Q1
Earnings call transcript
1 May 19
2018 Q4
Earnings call transcript
30 Jan 19
2018 Q3
Earnings call transcript
25 Oct 18
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