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SeaWorld Stock Sees Movement on Attendance Spike

SeaWorld stock was on the move Tuesday following the release of an preliminary attendance update for the quarter ending Sept. 30.

SeaWorld Stock Sees Movement on Attendance Spike

According to the SeaWorld Entertainment (NYSE:SEAS) preliminary results, the company saw attendance for the most recent quarter increase by 10% when compared to the third quarter of 2017. This had it serving an additional 700,000 guests during the quarter.

SeaWorld stock was also likely moving today with the release of preliminary revenue for its third quarter of 2018. The company says that preliminary revenue for the quarter is up $41 million, or 9%, from the same time last year. SEAS revenue for the third quarter of 2017 was $437.70 million.

If SEAS’ preliminary revenue results for the third quarter of 2018 are accurate, it could be good news for SeaWorld stock. It would have the company reporting revenue of roughly $478.70 million. This would have it beating out Wall Street’s revenue estimate of $462.23 million for the quarter.

SeaWorld stock may also be getting a boost from the company’s preliminary year-to-date attendance and revenue results. The entertainment company says that attendance so far for 2018 is up 1.4 million, or 9%.

When it comes to preliminary year-to-date revenue, SeaWorld says that it is up about $90 million when compared to the same period from last year. This also represents a 9% increase from the previous first three quarter of 2017.

SEAS stock started off on Tuesday up 7%. However, the stock is now down slightly as of Tuesday afternoon. SEAS stock is also up 115% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/10/seaworld-stock-moves-on-attendance-spike/.

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