SeaWorld Entertainment has reported record financial results for the fourth quarter of 2022 and the full year.
In the fourth quarter, SeaWorld enjoyed record revenue, its second highest net income, and record adjusted EBITDA. Last year, the company delivered record revenue, net income and adjusted EBITDA.
Attendance was 4.9 million guests in Q4, a decrease of around 16,000 visitors from Q4 2021, but an increase of 238,000 guests from Q4 2019.
Total revenue in Q4 was a record $390.5 million, an increase of $19.7m from Q4 2021. Compared to the fourth quarter of 2019, total revenue rose by $92.5m.
In Q4, net income was $49m, SeaWorld’s second highest net income – but a decrease of $22.5m from Q4 2021. Compared to the fourth quarter of 2019, net income increased by $73.2m.
Results for Q4 versus the prior year would have been “even better if it weren’t for significant adverse weather impacts” and the “negative impact” of Hurricane Ian and Hurricane Nicole, said Marc Swanson, CEO of SeaWorld.
As for the full year, attendance was 21.9 million guests, an increase of 1.7 million visitors from 2021. Compared to 2019, attendance declined by 0.7 million guests.
Total revenue was a record $1.7 billion, an increase of $227.5m from 2021. Compared to 2019, total revenue grew by $333m.
Net income was a record $291.2m, an increase of $34.7m from 2021. Compared to 2019, net income rose by $201.7m.
Record revenue, income and adjusted EBITDA
“As I have said before, we have a strong and resilient business model and we believe that we have significant opportunities to continue to improve and meaningfully grow our revenue and profitability,” Swanson added.
“We are pleased with the start to 2023 and looking forward – we are very excited about our plans with an exceptional line up of new rides, attractions, events and new and improved in-park venues and offerings.”
This year, SeaWorld is launching new rides, attractions and experiences at all of its parks. These include Pipeline: The Surf Coaster at SeaWorld Orlando, Arctic Rescue at SeaWorld San Diego, and Catapult Falls at SeaWorld San Antonio.
Also coming this year are DarKoaster at Busch Gardens Williamsburg, Serengeti Flyer at Busch Gardens Tampa Bay, Turi’s Kid Cove at Aquatica Orlando, Shaka Laka Shores at Adventure Island, Riptide Race at Water Country USA, Bert & Ernie’s Splashy Shores at Sesame Place, and Count’s Splash Castle at Sesame Place San Diego.
Meanwhile, in response to the damage caused by Hurricane Ian, SeaWorld’s conservation fund has made emergency grants to 10 Florida-based zoological and wildlife rescue organisations affected by the storm.
These include the Zoological Disaster Rescue, Response and Recovery, the Naples Zoo, Save Our Seabirds, Big Cat Habitat & Gulf Coast Sanctuary, the Central Florida Zoo & Botanical Gardens, and Iguanaland.
“SeaWorld is proud to support our fellow zoological and rescue facilities affected by Hurricane Ian,” said Chris Dold, president of SeaWorld’s conservation fund.
“We are all part of an essential wildlife care ecosystem, and we are grateful to have the ability to step up and help others who share our commitment to protecting wildlife.”
