SeaWorld Entertainment: Preliminary Q2 Results Slightly Declining
"Pipeline" at SeaWorld Orlando. Photo: Julian Tschech
(eap) For the second quarter (Q2) of its fiscal year (FY) 2023, ended on June 30, SeaWorld Entertainment reports a slight downward trend in attendance and revenue, according to the preliminary (unaudited) figures. According to these, an estimated total of around 6.1 million guests visited the group’s theme and water parks in the second quarter of this year, compared to 6.3 million guests in the same period of 2022. The company attributes this decline primarily to unfavorable weather conditions, which also had an impact on daily business during the peak season.
In parallel to the decrease in visitor numbers, also revenues in Q2 2023 are declining with some estimated 494-497 million US dollars (approx. 452-455 million euros at the current exchange rate). Compared to the same time period last year, this key figure was 504.8 million US dollars (some 462 million euros). Increased interest expenses contribute to a downturn in net income, which for Q2 2023 is estimated at some 85-88 million US dollars (approx. 77.8-81 million euros). In Q2 2022 net income was 116.6 million US dollars (106.7 million euros). Adjusted EBITDA is estimated at 222-225 million US dollars (203-206 million euros), compared to 234.4 million US dollars (214 million euros) last year. These preliminary results for Q2 2023 are currently audited, the official report is expected to be filed no later than August 9th, 2023.
SeaWorld Entertainment’s portfolio includes the SeaWorld® Parks, Busch Gardens Tampa (FL) and Busch Gardens Williamsburg (VA), the Aquatica® water parks, Sesame Place® parks and the Sea Rescue® centers. The SeaWorld theme parks, in particular, are currently undergoing a strong transformation that involves increased investment in rollercoasters and attractions, while at the same time limiting the range of marine animal shows and encounters. According to its own statements, the SeaWorld group will continue to pursue its focus on knowledge transfer through edutainment and active nature and species conservation in marine environments.
New attractions were recently added to parks including Busch Gardens Williamsburg, where “DarKoaster” opened as North America’s first Indoor Straddle Coaster (supplied by Intamin). At SeaWorld Orlando, guests can now surf through the park on the new “Pipeline” roller coaster (by Bolliger & Mabillard, read more about both attractions in our latest magazine issue EAP 4/2023). ■
