United Parks & Resorts Inc · Q2 2023 earnings

Briefing

SeaWorld Entertainment, Inc. experienced a decrease in attendance, total revenue, and net income compared to the second quarter of 2022, but saw an increase in total revenue per capita.

SeaWorld Entertainment, Inc. reported a decrease in attendance and revenue for the second quarter of 2023. Attendance was 6.1 million, a decrease of approximately 0.1 million guests from the second quarter of 2022. Total revenue was $496.0 million, a decrease of $8.8 million or 1.7% from the second quarter of 2022. Net income was $87.1 million, a decrease of $29.6 million or 25.3% from the second quarter of 2022.

• Attendance was 6.1 million guests, a decrease of approximately 0.1 million guests from the second quarter of 2022.
• Total revenue was $496.0 million, a decrease of $8.8 million or 1.7% from the second quarter of 2022.
• Net income was $87.1 million, a decrease of $29.6 million or 25.3% from the second quarter of 2022.
• Total revenue per capita increased 0.3% to a record $80.80 from the second quarter of 2022.

Headline financials

Revenue & EPS history

We have made significant investments in our business this year and will continue to make investments to improve the guest experience, allow us to generate more revenue and make us a more efficient and profitable business – we expect these investments to yield very attractive returns. We are currently planning new initiatives for the balance of this year and next year that will make us an even stronger, more profitable and more resilient business. We have high confidence in the plans we are executing on today and for the future and in our ability to deliver substantial operational and financial improvements that will lead to meaningful increases in shareholder value.