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SeaWorld Entertainment (NYSE:SEAS) reported a year-over-year decline in its third quarter revenue and profits due to a drop in attendance at its theme and water parks. The Orlando, Florida-based company said its revenue decreased 3% or by $17 million year-over-year to $548.2 million, ahead of Wall Street estimates of $547.77 million.
SeaWorld Entertainment Inc. SEAS, -0.02% posted better-than-expected earnings for the third quarter early Tuesday, as visitors to its parks increased despite some bad weather. The theme park operator had net income of $123.6 million, or $1.92 a share, for the quarter, down from $134.6 million, or $1.99 a share, in the year-earlier period.
SeaWorld (SEAS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
ORLANDO, Fla. , Oct. 11, 2023 /PRNewswire/ -- SeaWorld Entertainment, Inc. (NYSE: SEAS) announced today that it will release its third quarter financial results before the market opens on Wednesday, November 8, 2023.
Disneyland Resort is launching limited ticket offer for kids aged 3 to 9 at U.S. parks for $50 a day
Disneyland Resort is launching a limited, special ticket offer for children aged 3 to 9, offering access to a Disneyland Resort park for just $50 a child per day.
SeaWorld Entertainment's shares have been negatively impacted by bad weather, causing a decline in revenue, profits, and cash flows. Despite the temporary setbacks, some metrics have held up relatively well, such as revenue and a marginal increase in total revenue per capita. The company's future performance is uncertain, but long-term investors may see an opportunity to buy a high-quality company at a discounted price.
SeaWorld has been sued by the city in which it operates San Diego over allegations it owes $12.2 million in unpaid rent, penalties and interest on its 200 acres of city-owned property. The lawsuit was announced on Thursday after the San Diego City Council in May voted in favor of suing SeaWorld if it did not pay its outstanding rent.
Over the weekend, intense rain and flooding stranded more than 70,000 people at Burning Man in the Nevada desert. It's the latest example of how extreme weather, exacerbated by climate change, impacted major North American attractions this summer.
The headline numbers for SeaWorld (SEAS) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
SeaWorld (SEAS) came out with quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $1.62 per share a year ago.