SeaWorld Entertainment has reported record revenue and net income in its financial results for the fourth quarter and fiscal year 2021, although attendance is still down compared to 2019.
“We are pleased to report another quarter of record financial results and record financial results for the fiscal year,” said Marc Swanson, CEO of SeaWorld Entertainment.
“We are especially pleased to deliver these record results, while continuing to operate in an environment with significant and unprecedented headwinds related to Covid-19.”
In the fourth quarter of 2021, SeaWorld welcomed 5 million guests, a rise of 2.7 million visitors compared to Q4 2020, and an increase of 5.4 percent compared to Q4 2019.
Total revenue for the fourth quarter was a record $370.8m, an increase of $216.7m from Q4 2020 and an increase of $72.8 compared to 2019.
Net income was also a record $71.5m in Q4 2021. Compared to the fourth quarter of 2020 and 2019, net income increased by $117.1m and $95.7m, respectively.
SeaWorld’s Q4 and fiscal year 2021 results
In 2021, SeaWorld attracted 20.2 million guests, which is an increase of 13.8 million visitors from 2020. However, attendance declined by 2.4 million guests compared to 2019.
Total revenue for the year was a record $1.5 billion in 2021. Compared to 2019, total revenue rose by $105.5m or 7.5 percent. Net income was a record $256.5m, an increase of $568.8m from 2020 and an increase of $167m from 2019.
“While we have made good progress on our plans, as we look to the future, we continue to be highly confident that we can deliver even more operational and financial improvements that we expect will lead to meaningful increases in shareholder value,” Swanson added.
“In particular, we believe our forward ride, attraction and park enhancement investment plans are the most robust they have ever been, and currently reflect the cadence, focus areas and strategies we have been working towards.”
SeaWorld is launching 11 new rides and attractions at 10 of its parks this year. Earlier this month, SeaWorld confirmed that Cedar Fair had rejected its “unsolicited non-binding proposal” to buy the company for $3.4bn.
Images: SeaWorld Entertainment
