SeaWorld Entertainment's Q3 Revenue Faces Heat From Adverse Weather
Portfolio Pulse from Shivani Kumaresan
SeaWorld Entertainment Inc (SEAS) reported a Q3 FY23 sales decline of 3% YoY to $548.2 million, missing the analyst consensus estimate. The decrease in attendance was primarily due to adverse weather conditions. Revenue per capita decreased 0.2% YoY, while in-park per capita spending rose 1.6%. Adjusted EBITDA decreased 2.8% YoY. EPS of $1.92 beat the analyst consensus estimate. The company held $215.2 million in cash and equivalents as of June 30, 2023.
November 08, 2023 | 4:44 pm
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SeaWorld's Q3 FY23 sales and attendance were negatively impacted by adverse weather conditions. However, EPS beat estimates and in-park spending rose.
The decrease in sales and attendance due to adverse weather conditions could negatively impact SeaWorld's stock price in the short term. However, the increase in in-park spending and the EPS beating estimates could mitigate this impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100