Theme park operator SeaWorld Entertainment (SEAS) reported mixed results for its second quarter, as attendance was up slightly but in-park spending climbed 6.4% year-on-year.
The Orlando, Fla.-based company said revenue rose 3.6% to $406 million in the three months ended June 30, while the consensus on Capital IQ was for $411.8 million.
SeaWorld said attendance in the quarter benefited from a calendar shift related to the later timing of Easter and spring break this year, as well as positive reception to new rides and attractions along with marketing and communications strategies.
Offsetting the upbeat factors was poor weather in June at most of its parks, the company said.
Admissions revenue rose 0.9% to $227.8 million while food, merchandise and other revenue jumped 7.3% to $178.2 million. Attendance was up 0.8% to 6.46 million while in-park spending per capita rose 6.4% to $27.57.
“While we are pleased with our second-quarter and first six months results, we have the opportunity to do a lot better,” said Gus Antorcha, the company’s chief executive. “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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