NYSE$PRKS

United Parks & Resorts Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record revenue and Adjusted EBITDA, and the second highest net income.

SeaWorld Entertainment, Inc. reported record total revenue of $390.5 million for Q4 2022, an increase of 5.3% compared to Q4 2021. Net income was $49.0 million, a decrease of $22.5 million from the fourth quarter of 2021. Attendance was 4.9 million guests, a decrease of approximately 16,000 guests from the fourth quarter of 2021.

  • Attendance was 4.9 million guests, a decrease of approximately 16,000 guests from the fourth quarter of 2021.
  • Total revenue was a record $390.5 million, an increase of $19.7 million or 5.3% from the fourth quarter of 2021.
  • Net income was $49.0 million, the second highest net income for the Company and a decrease of $22.5 million from the fourth quarter of 2021.
  • Total revenue per capita increased 5.7% to a record $79.10 from the fourth quarter of 2021.

Headline financials

Total Revenue

$391M

Previous: $371M+5.3%
EPS (adj)

$0.76

Previous: $0.92-17.4%
Attendance

4.9M

Previous: 5.0M-2.0%
Total Revenue per Capita

$79.10

Previous: $74.87+5.6%
Admission per Capita

$45.63

Previous: $43.65+4.5%
In-Park per Capita Spending

$33.47

Previous: $31.22+7.2%
Capital Expenditures

$50M

Previous: $55.3M-9.6%
Free Cash Flow

$45.7M

Previous: $31.3M+46.1%
Net Income

$49M

Previous: $71.5M-31.5%
Operating Income

$102M

Previous: $85.3M+19.4%
Gross Profit

$147M

Previous: $142M+3.4%
Cash & Equivalents

$79.2M

Previous: $444M-82.2%
Total Assets

$2.33B

Previous: $2.61B-10.9%
Stock-Based Comp

$4.18M

Previous: $16.6M-74.7%

Revenue & EPS history

United Parks & Resorts · Revenue · Quarterly

$391M

Q4 2022+5.3%vs Q4 2021
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

United Parks & Resorts · $391M total across 2 segments · Q4 2022

  • Admissions
    $225M+4.2%
  • Food, merchandise & other
    $165M+6.9%

Forward guidance

The Company expects meaningful growth and new records in revenue and Adjusted EBITDA for 2023.

Tailwinds

  • Exceptional line up of new rides
  • Exceptional line up of new attractions
  • Exceptional line up of new events
  • New and improved in park venues
  • New and improved offerings

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.3%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+3.7%

Avg return

30 days after

48%

27 / 56 earnings

Positive

+21.1%

Q2 2018

Best reaction

-36.1%

Q2 2014

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-7.2%-8.0%+12.2%
Q4 2025+6.2%+1.5%-12.0%
Q3 2025-24.2%-25.7%-23.1%
Q1 2025+3.8%+4.3%-10.0%
Q4 2024-3.2%-7.0%-15.2%
Q3 2024-0.1%+0.0%+5.2%
Q2 2024+0.7%+1.2%+11.5%
Q1 2024+9.2%+9.5%+2.9%
Q4 2023+5.2%+9.8%+15.2%
Q3 2023-3.1%-0.5%+9.9%
Q2 2023-5.9%-5.3%-11.1%
Q1 2023+4.5%+1.5%+2.7%
Q4 2022+1.6%+4.1%-7.7%
Q3 2022-1.3%+0.3%-6.9%
Q2 2022+7.5%+7.8%+4.7%
Q1 2022-9.6%-16.3%-19.7%
Q4 2021+7.1%-1.4%+8.7%
Q3 2021-6.0%-7.7%-6.7%
Q2 2021+19.6%+16.0%+8.9%
Q1 2021+0.9%-0.5%+5.2%
Q4 2020+20.1%+17.0%+22.7%
Q3 2020+1.9%+16.5%+27.7%
Q2 2020+7.2%+12.4%+27.6%
Q1 2020-5.4%-17.2%+30.8%
Q4 2019-7.0%-11.1%-54.1%
Q3 2019+13.5%+14.0%+14.9%
Q2 2019+2.9%+12.9%-1.0%
Q1 2019+3.8%+4.1%+17.5%
Q4 2018+6.6%+7.7%+1.8%
Q3 2018-3.1%-5.9%+5.6%
Q2 2018+21.1%+18.3%+42.2%
Q1 2018+5.6%+7.8%+28.6%
Q4 2017-7.1%-6.9%-5.8%
Q3 2017+8.8%+8.6%+15.2%
Q2 2017-6.1%-6.2%-9.3%
Q1 2017+8.7%+4.9%-5.1%
Q4 2016+0.6%-3.1%-9.9%
Q3 2016+15.1%+19.3%+30.5%
Q2 2016-11.0%-12.5%-11.3%
Q1 2016-5.1%
Q4 2015-10.3%
Q3 2015-7.1%
Q2 2015+3.8%
Q1 2015-2.6%
Q4 2014-7.9%
Q3 2014-8.5%
Q2 2014-36.1%
Q1 2014-0.8%
Q4 2011-2.5%
Q4 2013+0.6%
Q3 2012-4.0%
Q3 2013-3.9%
Q2 2012-7.8%
Q2 2013-4.2%
Q1 2012+0.7%
Q1 2013-1.7%
Q4 2012

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