SEAS - SeaWorld Entertainment drops after weather-impacted earnings results disappoint

2023-08-08 08:53:09 ET

SeaWorld Entertainment ( NYSE: SEAS ) traded lower in the premarket session on Tuesday after missing estimates on both lines of its Q2 earnings report .

Revenue fell 1.7% during the quarter to $496M, with attendance down by 4.4%. The theme park operator noted that some combination of unusually hot and cold weather, rain, and/or the fallout from Canadian wildfires impacted most of its markets during the quarter. Total revenue per capita was up 0.3% to $80.80, with admissions per capital level from a year ago at $43.96 and in-park per capita spending up 0.6% Y/Y to $36.84. SeaWorld ( SEAS ) said the admission per capita decrease was primarily due to the net impact of the admissions product mix, partially offset by the realization of higher prices in its admission products resulting from strategic pricing efforts when compared to the prior year quarter. Adjusted EBITDA fell 4.4% during the quarter to $224.2M.

Shares of SeaWorld Entertainment fell 3.19% in premarket trading to $52.60 vs. the 52-week trading range of $44.38 to $68.20.

More on SeaWorld Entertainment:

• Weather check: Cedar Fair is the second theme park operator to link traffic drop to outside conditions
• Growth metrics on SeaWorld
• Seeking Alpha's Quant Rating for SeaWorld

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