Thursday , March 4 2021

SeaWorld displaces the effect "Blackfish" with strong growth of assistance



SeaWorld Entertainment, in a change of years of disappointing profits, posted strong earnings in assistance and revenue during the third quarter, the company reported Monday.

The total visit during the crucial summer season increased by approximately 700,000 guests, an increase of 9.7 percent, while revenues increased 45.5 million dollars, or 10.4 percent, up to 483 million dollars, exceeding the expectations of Wall Street.

Meanwhile, net profits rose more than 74 percent to $ 96 million.

The Orlando-based company, Fla., Also saw strong results in the first nine months of the year until September 30, with 1.4 million more people going through lathes in the 12 parks of SeaWorld, an increase of almost 9 per cent. Revenues grew 9.5 percent, up to $ 1.09 million, compared to $ 997.8 million during the same period last year.

The quarterly report was not a total surprise, given that the company gave a preview last month of what should come in relation to an expected debt financing, which was recently completed.

The good news is a march marked for only a year when SeaWorld reported that assistance during the third quarter of 2017 fell by almost 9 percent, with 732,000 fewer people visiting the theme parks compared to the same period last year. It also represents the third consecutive quarter in which there were notable gains in attendance and income, indicating the possibility of a sustained rebound of the prolonged falls impelled by the documentary "Blackfish" of 2013 against captivity.

Interim CEO John Reilly has attributed the demonstration of the company to the effectiveness of its marketing message, pricing strategies and the new attractions and attractions that attract more visitor to the parks. It also boosted good results with a double digit increase in sales revenue for seasons during the third quarter.

Looking forward, he said 2019 "will have what I believe is our best formation of new rides, attractions and events with a new ride, attraction or event in almost all our 12 parks."

At the same time, Reilly added that the company remains a "laser focused on the identification and execution of additional cost savings and the creation of efficiencies that will improve our margins and lead to greater profitability."

For a time, SeaWorld has been cutting costs, including eliminating positions, to improve the financial performance of the company and also to aggressively promote its annual pass program to attract the closest visitors. It has recently unveiled a new multi-step program that will offer an annual park ticket for as low as $ 7.99 per month and only $ 19.99 per month, but with advantages such as nearby parking, reserved seats and free access to all 11 other parks owned by SeaWorld

SeaWorld does not break numbers for individual parks, but the lease payments made by the San Diego park to the city of San Diego for its Mission Bay site grew as the park acquires a higher revenue from tickets and sales of food and beverages.

During the summer months of June, July and August, payments to the city totaled almost $ 4.6 million, up 18 percent more than in the previous year.

The debut earlier this year of electric coaster Electric Eel has probably helped drive assistance locally, and the park is planning another mountain for next year.

The last change brought new confidence to the shareholders, increasing the stock price to more than $ 26 per share, almost twice as high as the beginning of the year.

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Twitter: @loriweisberg


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