USA: SeaWorld Entertainment Reports Preliminary Financial Year 2016 Results
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Yesterday, SeaWorld Entertainment, Inc. reported first preliminary results of the past 2016 financial year. According to the report, total revenues are expected to be 1.344 billion US Dollar (approx. 1.272 billion Euros) generated in all belonging parks, the total attendance was approx. 22 million guests in 2016.
“[...] We are encouraged to see the continued positive results of our efforts. We look forward to communicating more specifics during our earnings call next week, once our results are finalized, but based on our preliminary estimates, we expect to exceed the high end of the 2016 Adjusted EBITDA guidance range provided in November 2016,” said Joel Manby, President and CEO of SeaWorld Entertainment, Inc. “We are also exploring a possible debt refinancing transaction in order to improve our capital structure by extending maturities and improving certain other terms of our debt,” he added.
Currently, the operating group finds itself in a restructuring phase – last year, the company announced to stop its orca breeding program in all respective parks and to replace the controversial whale shows by other forms of animal presentation (cf. EAP news from March 21st, 2016). (eap)
