SeaWorld Entertainment (NYSE:SEAS) earnings for the amusement park company’s third quarter of 2019 have SEAS stock up. This is despite it reporting diluted earnings per share of $1.24 and revenue of $473.70 million. For comparison, Wall Street was looking for EPS of $1.40 on revenue of $489.75 million.
Let’s see what else went down in the most recent SeaWorld Entertainment earnings report.
- Diluted per-share earnings are up 12.7% from $1.10 in the third quarter of 2018.
- Revenue saw a 2% drop YoY from $483.20 million.
- Net income for the Q3 SeaWorld Entertainment earnings report comes in at $98 million.
- That’s a 2.1% increase over its net income of $96 million from the same time last year.
- Attendance of 8.1 million during the quarter was down 2.60% from 8.30 million in the same period of the year prior.
Marc Swanson, the interim CEO of SeaWorld Entertainment, says this about the Q3 SEAS stock earnings.
“We are pleased with the progress we have made this year towards optimizing our business and operations. While we are disappointed with our financial results in the quarter, we believe these results would have been stronger – and that we would have grown attendance, total revenue and Adjusted EBITDA – absent unusually unfavorable weather, a negative calendar shift and a significant overspend of certain marketing related expenses.”
The SeaWorld Entertainment earnings report also includes a guidance update. This has the company saying it expects Adjusted EBITDA to come in closer to the high end of its outlook. This is between $475 million and $500 million.
SEAS stock closed out the day up 10.85%.
As of this writing, William White did not hold a position in any of the aforementioned securities.