Royal Caribbean Cruises Ltd. stock research
FY2024 Q2
Royal Caribbean Cruises (RCL) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit improved, leading to a higher gross margin than both comparison periods.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit improved, leading to a higher gross margin than both comparison periods.
- The gross margin strengthened sequentially and year-over-year, driven by gross profit growing faster than revenue. The relationship between revenue and cost of revenue shifted favorably.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
47.6%
Gross profit
$2.0B
Revenue
$4.1B
Cost of revenue
$2.2B
Quarter-over-quarter change
+2.8 pts
Year-over-year change
+3.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $4.2B | $2.0B | $2.1B | 48.6% |
| Dec 31, 2023 | $3.3B | $1.4B | $1.9B | 43.3% |
| Mar 31, 2024 | $3.7B | $1.7B | $2.1B | 44.8% |
| Jun 30, 2024 | $4.1B | $2.0B | $2.2B | 47.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+2.8 pts
Year-over-year change
Jun 30, 2023
+3.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin strengthened sequentially and year-over-year, driven by gross profit growing faster than revenue. The relationship between revenue and cost of revenue shifted favorably.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was also higher.
Monitor the trend in cost of revenue relative to revenue, as its growth rate influences gross margin sustainability.