SeaWorld Entertainment has announced its preliminary second-quarter financial results, reporting declines in both attendance and revenue.
In a press release, SeaWorld said the financial statements for the three and six months ended 30 June 2023 “are not yet complete”.
The company said it has not “completed its customary financial closing and review procedures, and as a result its estimates are subject to change”.
SeaWorld has reported attendance of approximately 6.1 million guests in the three months ending 30 June this year, a decline from 6.3 million visitors in the same period last year.
The company attributed the attendance drop at its theme parks to adverse weather in several regions, including during peak periods.
As a result of lower attendance, SeaWorld estimated revenue of approximately $494-$497 million for the quarter, compared to $504.8m in Q2 2022.
Net income is expected to be around $85-$88m, compared to $116.6m in Q2 2022, mainly due to an increase in interest expense and a reduction in total revenue.
Adjusted EBITDA is expected to be approximately $222-$225m, compared to $234.4m in the same quarter last year.
New coasters and parks
SeaWorld’s latest numbers come after it reported its eighth consecutive quarter of record financial results for Q1 2023.
As well as SeaWorld Abu Dhabi, the company has launched a series of new coasters and rides at its US parks, including SeaWorld Orlando’s new surf coaster, Busch Gardens Williamsburg’s DarKoaster and SeaWorld San Diego’s Arctic Rescue straddle coaster. SeaWorld San Antonio is also set to open the Catapult Falls flume coaster.
Marc Swanson, CEO of SeaWorld, said in May: “I am very excited about the significant investments we are making and the many initiatives we have underway across our business that we expect will improve the guest experience, allow us to generate more revenue and make us a more efficient and more profitable enterprise.”
