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Tuesday, May 8, 2018

SeaWorld reports spike in revenue, attendance in first quarter

Posted By on Tue, May 8, 2018 at 3:12 PM

  • Photo by Abi Skipp via Flickr
SeaWorld Entertainment finally has some good news for its investors.

The Orlando-based theme park company reported a $30.8 million increase in revenue to $217.2 million and a 15 percent increase in attendance to 3.2 million guests compared to the first quarter of 2017.

"We are happy about the progress we made in the first quarter and the continued positive results we are seeing year-to-date in April and are laser focused on continuing to execute as we enter the peak summer season," said interim SeaWorld CEO John Reilly in a statement. "Despite this strong start to the year, we know we have significant opportunity for further improvement."

Reilly added that the company's first quarter results were driven by "new marketing and communications initiatives, the anticipation and receptivity of our new rides, attractions and events, and new promotional pricing strategies." The revenue from season-pass sales and in-park spending also jumped 10 percent and 6 percent, respectively.

SeaWorld also reported a $62.8 million loss in its first quarter, which the company attributes to only five of its 12 parks being open for the full quarter. CNN Money reports SeaWorld stock has surged as much as 10 percent after the news.

The company has faced declining attendance and revenue since the release of the documentary Blackfish, which focused on SeaWorld's treatment of orca whales at its theme parks. SeaWorld is currently under federal investigation over comments executives made in 2014 about the impact of Blackfish and trading in the company's securities.

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