Royal Caribbean (RCL) Earned $4.4 Billion and Its Free Cash Flow Was Negative. Where Did It Go?

Royal Caribbean Cruises Ltd. (NYSE:RCL) closed at $277.74 on October 2 after reporting net income of $4.4 billion over the past twelve months. Over the same twelve months, the company’s levered free cash flow was negative. Both statements describe the same twelve months. Reconciling them explains most of what this business is. READ ALSO: Here […]