United Parks & Resorts, formerly SeaWorld, has reported its financial results for the first quarter of this year, posting increases in attendance and revenue.
Attendance at the company’s theme parks was 3.5 million guests, an increase of 2.1 percent from the first quarter of 2023. Total revenue was a record $297.4 million, an increase of $4.1m or 1.4 percent from the first quarter of last year.
Adjusted EBITDA was also a record $79.2m, an increase of $6.7m or 9.3 percent from Q1 2023. Net loss was $11.2m, an improvement of $5.3m from the first quarter of 2023.
“We are pleased to report record financial results this quarter including record revenue and adjusted EBITDA,” said Marc Swanson, CEO of United Parks & Resorts.
“While attendance in the quarter benefited from a positive calendar shift, including the shift of the Easter holiday into the last day of the first quarter from the second quarter in prior year, this benefit was almost entirely offset by unusually wet and cold weather during the quarter, particularly on certain peak attendance days and mainly in our Florida parks.”
This year, United Parks & Resorts is set to open new rides and attractions including the Penguin Trek coaster at SeaWorld Orlando and a jellyfish experience at SeaWorld San Diego.
New rides at SeaWorld and Busch Gardens
Also debuting soon are the Phoenix Rising coaster at Busch Gardens Tampa Bay and the restored Loch Ness Monster coaster at Busch Gardens Williamsburg. SeaWorld San Antonio recently opened the new Catapult Falls flume coaster.
“Looking ahead, we are excited about our plans for 2024, with an exceptional line-up of new, one-of-a kind rides, attractions and events, improved in-park venues and offerings across our parks, some of which are already live and others that are anticipated to debut later this spring and summer,” said Swanson.
Images courtesy of United Parks & Resorts
