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SeaWorld bounce back continues with strong first half results
POSTED 06 Aug 2019 . BY Andy Knaggs
We are confident we will deliver the significantly improved financial results this company is capable of achieving
– Gus Antorcha
SeaWorld has reported further growth in visitor numbers and revenue in its Q2 and half-year results, with total revenue reaching US$626.6m (€559.43m, £514.5m) for the first six months of 2019.

The company said that refined pricing, marketing and communication strategies, a positive reception to new rides, attractions and events, and a favourable calendar shift that moved Easter back later in 2019, were all contributors to its improved attendance results.

In the first six months of the year, 9.8 million guests attended the firm's parks – up by 1.7 per cent on the first half of 2018 – giving it net income of US$15.6m (€13.93m, £12.81m) for the half-year, and Adjusted EBITDA of US$166.1m (€148.32m, £136.37m) – an increase of almost 34 per cent compared to 2018.

The second-quarter results showed improvements on visitor numbers, total revenue, net income and Adjusted EBITDA compared to Q2 2018, with net income, in particular, faring well, although its 132 per cent improvement on 2018 was partly affected by pre-tax expenses associated with separation-related costs and a legal settlement accrual in Q2 2018.

SeaWorld CEO Gus Antorcha has recently revealed further details about its failed China projects in which its majority shareholder Zhonghong Group, which had purchased 21 per cent of SeaWorld's stock, defaulted on loan payments.

Within its half-yearly figures, SeaWorld said it has repurchased around 5.6 million common stock shares during Q2 2019, and on 2 August its board approved an extension to this programme. The company now has US$250m (€223.27m, £205.25m) available for future share repurchases.

The company also revealed that during Q2 2019 it helped rescue more than 780 animals, helping it to surpass 35,000 total rescues over its history.

Antorcha said of the results: "While we are pleased with our second quarter and first six months results, we have the opportunity to do a lot better. We will continue to refine our pricing and marketing strategies to drive revenue, improve operating efficiencies and increase operating margins, and we are confident we will deliver the significantly improved financial results this company is capable of achieving."
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Jobs . News . Products . Magazine
NEWS
SeaWorld bounce back continues with strong first half results
POSTED 06 Aug 2019 . BY Andy Knaggs
We are confident we will deliver the significantly improved financial results this company is capable of achieving
– Gus Antorcha
SeaWorld has reported further growth in visitor numbers and revenue in its Q2 and half-year results, with total revenue reaching US$626.6m (€559.43m, £514.5m) for the first six months of 2019.

The company said that refined pricing, marketing and communication strategies, a positive reception to new rides, attractions and events, and a favourable calendar shift that moved Easter back later in 2019, were all contributors to its improved attendance results.

In the first six months of the year, 9.8 million guests attended the firm's parks – up by 1.7 per cent on the first half of 2018 – giving it net income of US$15.6m (€13.93m, £12.81m) for the half-year, and Adjusted EBITDA of US$166.1m (€148.32m, £136.37m) – an increase of almost 34 per cent compared to 2018.

The second-quarter results showed improvements on visitor numbers, total revenue, net income and Adjusted EBITDA compared to Q2 2018, with net income, in particular, faring well, although its 132 per cent improvement on 2018 was partly affected by pre-tax expenses associated with separation-related costs and a legal settlement accrual in Q2 2018.

SeaWorld CEO Gus Antorcha has recently revealed further details about its failed China projects in which its majority shareholder Zhonghong Group, which had purchased 21 per cent of SeaWorld's stock, defaulted on loan payments.

Within its half-yearly figures, SeaWorld said it has repurchased around 5.6 million common stock shares during Q2 2019, and on 2 August its board approved an extension to this programme. The company now has US$250m (€223.27m, £205.25m) available for future share repurchases.

The company also revealed that during Q2 2019 it helped rescue more than 780 animals, helping it to surpass 35,000 total rescues over its history.

Antorcha said of the results: "While we are pleased with our second quarter and first six months results, we have the opportunity to do a lot better. We will continue to refine our pricing and marketing strategies to drive revenue, improve operating efficiencies and increase operating margins, and we are confident we will deliver the significantly improved financial results this company is capable of achieving."
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Sutton Hoo ancient royal burial site reopens following redevelopment
Sutton Hoo, the burial site of a 7th century Anglo-Saxon king in Suffolk, England, that achieved worldwide fame upon its discovery in 1938, has reopened following a £4m (US$4.85m, €4.37m) transformation.
Merlin reveals plans for Lego Movie World at California resort
Merlin has revealed plans for the largest new addition at its Legoland California resort since the park launched in 1999.
Arts Council England allocates £17.5m to local culture projects
Arts Council England has named 13 new additions to its Creative People and Places (CPP) project, which it says is about local people choosing, creating and taking part in the arts and culture on offer to them.
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DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
+ More profiles  
FEATURED SUPPLIER

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VIDEO GALLERY

Red Raion - Miko and the Spell of the Stone - Movie Trailer
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Jurassic War - Immersive tunnel movie trailer – Red Raion
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Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
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CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

16-19 Sep 2019

IAAPA Expo Europe 2019

Paris Expo Porte de Versailles, Paris, France
21-24 Sep 2019

ASTC 2019 Annual Conference

Ontario Science Centre, Toronto, Canada
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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