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SeaWorld reports financial results as company ‘looks ahead to 2022’

SeaWorld Entertainment has reported financial results for the third quarter and first nine months of 2021.

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SeaWorld Entertainment has reported its financial results for the third quarter and first nine months of 2021, and is “looking ahead to 2022” when it launches new rides and attractions.

Marc Swanson, CEO at SeaWorld, said: “I am pleased to report another quarter of strong financial results while continuing to operate in a highly challenging and Covid-19 impacted environment.”

SeaWorld’s Q3 2021 highlights

In Q3 2021, attendance at SeaWorld parks was 7.2 million guests, an increase of 5.7 million visitors from the third quarter of 2020. Compared to Q3 2019, attendance decline by 11 percent.

SeaWorld’s total revenue was $521.2m in the third quarter of 2021, an increase of $415.1m from the third quarter of 2020. Compared to Q3 2019, total revenue increased by 10 percent.

Net income was $102.1m in Q3 2021, an increase of $181.3m from the third quarter of 2020. Net income grew by 4.2 percent ($4.1m) compared to Q3 2019.

Adjusted EBITDA in the third quarter of 2021 was $265.3m, an increase of $276.5m from Q3 2020. Compared to the third quarter of 2019, adjusted EBITDA increased by 28.2 percent ($58.4m).

In addition, total revenue per capita, admission per capita and in-park per capita spending all increased from the third quarter of 2020 and Q3 2019.

“In the third quarter, we generated among our highest revenue and net income ever reported and another quarter of record adjusted EBITDA,” Swanson added. “Our pricing and product strategies, along with the strong consumer demand environment, continued to drive higher realized pricing and strong guest spending in the quarter.” 

First nine months 2021 highlights

Attendance for the first nine months of 2021 was 15.2 million guests, an increase of 11.1 million guests from the same period in 2020. Attendance dropped by 2.7 million visitors compared to the first nine months of 2019.

Total revenue was $1,132.9m for the first nine months of 2021, an increase of $855.2m from 2020. Compared to the first nine months of 2019, total revenue rose by $32.7m.

SeaWorld‘s net income was $185m for the first nine months of 2021, a rise of $451.8m from 2020. Compared to 2019, net income grew by $71.3 million (62.7 percent).

For the first nine months of 2021, adjusted EBITDA was $509.3m – an increase of $605.2m from 2020. Compared to the same period in 2019, adjusted EBITDA rose by $136.3m.

Total revenue per capita, admission per capita and in-park per capita spending all rose from the first nine months of 2020 and the first nine months of 2019.

“Our record-breaking financial performance through the first nine months of the year is a testament to the resiliency of our business and the relentless efforts and dedication of our ambassadors,” Swanson said. 

Rides and attractions for 2022

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“Looking ahead to 2022, we have announced what we believe is our most significant and exciting line-up of new rides, attractions, events and upgrades, including something new and meaningful in every one of our parks.”  

SeaWorld’s upcoming attractions include the Ice Breaker coaster at SeaWorld Orlando, the Iron Gwazi coaster at Busch Gardens Tampa Bay, and the Pantheon coaster at Busch Gardens Williamsburg.

Additional offerings include the Emperor coaster at SeaWorld San Diego, the Tidal Surge ride at SeaWorld San Antonio, and Sesame Place San Diego, opening in March 2022.

Images: SeaWorld Entertainment

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Bea Mitchell

Bea is a journalist specialising in entertainment, attractions and tech with 10 years' experience. She has written and edited for publications including CNET, BuzzFeed, Digital Spy, Evening Standard and BBC. Bea graduated from King's College London and has an MA in journalism.

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