06 Nov 2018
SeaWorld reports big financial gains in Q3 2018
BY Luke Cloherty
SeaWorld Entertainment has reported increases in revenue, net income and pre-tax profits (EBITDA) for Q3 2018.
Total revenue for the quarter increased by 10.4 per cent to US$483.2m (€423.8m, £370.7m) from Q3 2017, which the company said was a result of strong increases in attendance and in-park per capita spending.
Meanwhile, net income saw an even healthier rise, jumping by 42.7 per cent to US$96m (€84.2m, £73.7m) and adjusted EBITDA climbed 22.2 per cent to US$212.4m (€186.3m, £163m).
Attendance was generally the underpinning of these sizeable jumps as well, according to SeaWorld. An extra 700,000 guests attended its parks – a 9.7 per cent uplift to 8.3 million total visitors – in Q3 2018.
John Reilly, interim CEO & chief parks operations officer, put this attendance spike down to a more competitive approach and new additions to SeaWorld Parks in a conference call on the figures.
"We believe that these results were driven primarily by our new strategic pricing initiatives, new marketing and communication initiatives and the positive reception of our new rides, attractions and events," he said.
"We are particularly pleased with our third quarter attendance growth during the peak summer season, which we believe was driven in part by our calendar of popular events."
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