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SeaWorld Q2 financial results: Strong guest spending

The company reports strong gains in revenue, income and earnings in its second quarter figures, despite COVID –related closures.

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SeaWorld Entertainment has released figures for the second quarter and first six months of 2021. Despite the challenges of the pandemic, the figures show strong growth.

Given parks were under COVID restrictions for part of the period covered, it’s little surprise that guest attendance dipped in comparison to the same period in 2019. SeaWorld reports second quarter attendance was 5.8 million guests – a decline of 0.7 million when compared to 2019. However the figure showed an increase of 5.5 million from the same period last year, as restrictions began to ease.

Despite the fall in attendance, revenues were up 8.3 percent compared with 2019. Total revenue for the 2021 second quarter was $439.8 million. This is up $33.8 million from the same period in 2019, an increase of 8.3%. Net income is shown at a record $127.8 million – an increase of 142.7% compared with 2019 figures. Adjusted EBITDA increased by 46.2%, compared to 2019, at $218.8 million.

“I am pleased to report that, despite continuing to operate in a highly challenging and COVID-19 impacted environment, momentum from the first quarter continued into the second quarter and we delivered strong second quarter financial results – including record revenue, net income and Adjusted EBITDA,” said Marc Swanson, Chief Executive Officer of SeaWorld Entertainment, Inc, in a statement released to the press.  “Our strong financial performance… underscores both the resilience of our business and our commitment to emerge from this extraordinary environment an even stronger and more profitable business.”

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Strong consumer demand drove increased spending

Increased customer spending lies behind the strong revenue figures. In-park per capita spending increased by 22.7% while admission per capita also saw an increase (18.8% in comparison to 2019 figures).

“Our pricing and product strategies, along with the strong consumer demand environment, continued to drive higher realized pricing and strong guest spending resulting in record total revenue per capita in the quarter,” commented Swanson. 

SeaWorld looks to the future

In a further boost, SeaWorld Orlando was voted best amusement park in the United States by readers of USA Today. However it’s not resting on its laurels. Marc Swanson has said the company could be looking to expand with further parks or hotels.

The attraction has also announced its first Howl-O-Scream night-time event for Halloween this autumn, with haunted houses and scare zones.

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