SeaWorld posts second quarter earnings loss
Aug 15, 2013
SeaWorld's second quarter attendance and earnings took a big hit this year, seeing a decrease of $15.9 million, a substantial difference from last year at the same time, when the company had a $39.1 million profit. Jim Atchison, SeaWorld Entertainment Inc. President and CEO, expects to see better numbers next quarter due to the recent opening of the Antarctica attraction. He said, "We're very pleased with the performance of this attraction. Our cluster of parks in Orlando are our highest-performing group on a year-to-date basis. Antarctica is something that's a big game-changer for us, in terms of our brand and the guest experience." The attraction is already upping the attendance numbers for the park, so presumably the third quarter should be much better.
Revenue went down 3 percent to $411 million; quarterly attendance for all of the company’s parks went down 9 percent, to $6.6 million from $7.2 million. Revenue per guest went up from $58.75 to $62.67.
Factors that may have played a part in the losses include poor weather, an earlier Easter holiday, increased ticket prices and the removal of several discounts. The company also began repaying several debts, due to profit made from a stock offering.
In spite of the poor numbers shown in the second quarter, the first half of the year is actually positive, seeing $650 million in revenue, which is a company record and up 2 percent from last year.