August 1, 2023, 1:05 PM ·
Regardless of opening three new roller coasters, attendance and earnings dropped at the SeaWorld concept parks in the second quarter of 2023 in comparison with the identical interval just one year back, in accordance to numbers produced by the company these days.
SeaWorld Amusement announced preliminary next quarter economic results nowadays, one particular 7 days ahead of its scheduled fiscal results announcement. The firm documented attendance of around 6.1 million guests throughout its theme and h2o parks in the a few months ending June 30 this yr, down 3% from 6.3 million guests in the exact same interval a person yr back.The organization attributed the decline to adverse temperature throughout a quantity of its markets for the duration of the time period. SeaWorld Entertainment runs SeaWorld parks in Orlando, San Diego, and San Antonio, Busch Gardens parks in Tampa, Florida and Williamsburg, Virginia, and Sesame Position parks outdoors Philadelphia and San Diego, as effectively as several water parks near its concept parks.Reduce attendance meant lessen revenue and profits for the company. SeaWorld approximated profits of $494-$497 million for the quarter, down from $504.8 million in the 2nd quarter of 2022. An raise in earnings per capita partly offset the impact of the reduce attendance. But an enhance in fascination expenditure together with the reduced income led to a drop in quarterly cash flow from $116.6 million in 2022 to about $85-$88 million for the similar interval this year.
In its press launch now, the firm noted, “preliminary estimates are subject matter to revision as the Business prepares its fiscal statements and disclosures for the a few and six months finished June 30, 2023, and these revisions may perhaps be significant, in individual, the Company has not finalized its tax provision or review of deferred tax balances and connected valuation allowances…. Accordingly, the closing benefits and other disclosures as of June 30, 2023 and for the a few and 6 months ended June 30, 2023 may possibly vary materially from the preliminary approximated information.”In the 3 months ending June 30, Busch Gardens Williamsburg opened DarKoaster, SeaWorld Orlando opened Pipeline: The Surf Coaster, and SeaWorld San Diego opened Arctic Rescue. A SeaWorld-branded park also opened on Yas Island in Abu Dhabi during the quarter, but SeaWorld Abu Dhabi is owned and operated by Miral, so its attendance and profits will not impact SeaWorld Entertainment’s fiscal outcomes further than any royalty and licensing payments created to the company by Miral.In case you missed them, listed here are our assessments and videos from these openings:For admission deals, as well as our reader rankings and tips on checking out SeaWorld and other top rated concept parks all around the world, make sure you check out our our Topic Park website visitors guides.And for additional topic park news, you should signal up for Theme Park Insider’s weekly newsletter.
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