Casinos & Hotels
Is This the Comeback SeaWorld Has Been Waiting For?
Published:
Last Updated:
SeaWorld Entertainment Inc. (NYSE: SEAS) released its second-quarter financial results early on Monday. The company said that it had $0.34 in earnings per share (EPS) and $391.9 million in revenue, which compares with consensus estimates from Thomson Reuters of $0.27 in EPS on revenue of $371.4 million. The same period of last year reportedly had a net loss of $2.05 per share and $376.75 million in revenue.
Management believes that the improved quarterly attendance results were from a combination of factors, including new pricing strategies, new marketing and communications initiatives and the anticipation and reception of new rides, attractions and events.
During the quarter, the company recorded $225.81 million in revenues for admissions and $166.12 million in revenues for food and merchandise.
On the books, SeaWorld’s cash and cash equivalents totaled $33.45 million at the end of the quarter, up from $33.18 million at the end of the previous fiscal year.
The company did not issue any guidance in the report. However, the consensus estimates call for $1.00 in EPS and $453.32 million in revenue for the third quarter.
John Reilly, interim CEO, commented:
We are pleased with our strong second quarter financial results and the continued momentum we see in the business. The results were driven by our new strategic pricing strategies, new marketing and communications initiatives and the positive reception of our new rides, attractions and events. In addition, we continued to experience a double-digit increase in season pass sales revenue and an increase in total revenue per capita driven by a 6.5% increase in in-park per capita spending. We are particularly pleased with our second quarter attendance growth, which more than offset the negative impacts from unfavorable weather across several of our markets in the quarter, and the earlier timing of the Easter holiday in 2018, which benefitted the first quarter at the expense of the second quarter.
Shares of SeaWorld closed Friday at $21.13, with a consensus analyst price target of $17.95 and a 52-week range of $10.42 to $23.06. Following the announcement, the stock is up about 14% at $24.14 in early trading indications Monday.
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.