SeaWorld Entertainment (SEAS) Tops Q2 EPS by $1.35

SeaWorld Entertainment (NYSE: SEAS) reported Q2 EPS of $1.59, $1.35 better than the analyst estimate of $0.24. Revenue for the quarter came in at $439.8 million versus the consensus estimate of $333.49 million.

"I am pleased to report that, despite continuing to operate in a highly challenging and COVID-19 impacted environment, momentum from the first quarter continued into the second quarter and we delivered strong second quarter financial results – including record revenue, net income and Adjusted EBITDA," said Marc Swanson, Chief Executive Officer of SeaWorld Entertainment, Inc. "Our strong financial performance through the first half of the year underscores both the resilience of our business and our commitment to emerge from this extraordinary environment an even stronger and more profitable business. During the second quarter we also generated record Free Cash Flow that further bolsters our already strong balance sheet. Our pricing and product strategies, along with the strong consumer demand environment, continued to drive higher realized pricing and strong guest spending resulting in record total revenue per capita in the quarter. Despite the progress we have made, we continue to believe there are significant additional opportunities to improve our execution and continue to drive meaningful growth in both revenue and Adjusted EBITDA."

"We were also pleased to recently receive recognition from USA Today readers for having some of the best parks and attractions in the country. Our SeaWorld Orlando park was voted best amusement park in the United States, our Mako rollercoaster in SeaWorld Orlando was voted best rollercoaster in the United States, Aquatica Orlando was voted best outdoor waterpark in the United States and Celtic Fyre at Busch Gardens Williamsburg was voted best amusement park entertainment in the United States. Several of our other parks and attractions received top ten rankings as well. We are thrilled to receive these awards and proud of the ambassadors in our parks that help deliver amazing guest experiences," continued Swanson.

"Looking ahead, next month we will begin our Halloween events including our daytime, family-oriented SeaWorld Spooktacular event at our SeaWorld parks and our night-time Howl-O-Scream event at all of our Busch Gardens and SeaWorld parks, including for the first time ever at SeaWorld Orlando and SeaWorld San Diego. We are excited about adding this popular event for our thrill-seeking, adult guests in Orlando and San Diego. We are also planning on strategically adding operating days in the second half of the year versus 2019. Looking further out, we are making progress on building Sesame Place in San Diego and look forward to opening that park next year. In addition, SeaWorld Abu Dhabi, the first SeaWorld park outside of the United States, is on track to complete construction by the end of 2022," concluded Swanson.

For earnings history and earnings-related data on SeaWorld Entertainment (SEAS) click here.

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