SeaWorld Entertainment has had a rough couple of years, and unfortunately for them, the news is only getting worse. According to the Orlando Sentinel, the company’s first-quarter attendance dropped 15 percent, and they only brought in “$186.4 million in revenue, compared to $220.2 million in the same period a year ago.” In total, SeaWorld “reported a net loss of $61 million, or 72 cents per share.” Surprisingly, that is better than last year when the company lost $84 million or $1 per share, during the first-quarter.
The timing of spring break being in the second quarter this year is to blame according to SeaWorld executives. Company executives also believe that loss of the killer whale show at SeaWorld San Diego, as it makes way for a new “natural orca encounter,” had a massive impact on the attendance and revenue numbers.
Chief Executive Officer Joel Manby remained hopeful saying, “we are well-positioned going into our seasonally important second and third quarters.” Other positive takeaways were that guests are reportedly spending more time in the parks and season pass sales have increased 6 percent through April.
Credit: Orlando Sentinel