SeaWorld Entertainment posts 4Q gains, slight increases in attendance and revenue for the year

Posted Monday, March 2, 2020 5:04 PM | Contributed by Jeff

From the press release:

Fourth Quarter 2019 Highlights

  • Attendance increased 2.2%, to 4.7 million guests from the fourth quarter of 2018.
  • Total revenue increased by $18.0 million, or 6.4%, to $298.0 million from the fourth quarter of 2018.
  • Net loss increased by $13.1 million, to $24.2 million from the fourth quarter of 2018.
  • Adjusted EBITDA[1] increased by $19.3 million, or 29.9%, to $83.9 million from the fourth quarter of 2018.

Fiscal 2019 Highlights

  • Attendance increased 0.2%, to 22.6 million guests from fiscal 2018.
  • Total revenue increased by $26.0 million, or 1.9%, to $1.4 billion from fiscal 2018.
  • Net income increased by $44.7 million, or 99.8%, to a record $89.5 million from fiscal 2018.
  • Adjusted EBITDA increased by $55.6 million, or 13.9%, to a record $456.9 million from fiscal 2018.

"We are pleased to report a strong finish to the year with record-setting performance in the fourth quarter and fiscal year," said Serge Rivera, Chief Executive Officer of SeaWorld Entertainment, Inc. "Despite continued unfavorable weather during the quarter, we continued to grow attendance and total revenue per capita and executed on our cost and efficiency initiatives. Our strategic focus on new rides, attractions and events in every park every year, improved marketing, communications and pricing strategies and a relentless focus on cost efficiency initiatives has resulted in significant increases in attendance, revenue, and Adjusted EBITDA over the last two years."

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