SeaWorld Entertainment Inc.
SEAS,
posted better-than-expected earnings for the third quarter early Tuesday, as visitors to its parks increased despite some bad weather. The theme park operator had net income of $123.6 million, or $1.92 a share, for the quarter, down from $134.6 million, or $1.99 a share, in the year-earlier period. Revenue fell 3% to $548.2 million. The FactSet consensus was for EPS of $1.90 and revenue of $547.0 million. “We are pleased to report another quarter of solid financial results despite the impact of unusual and significantly adverse weather in our peak operating season across most of our markets.” CEO Marc Swanson said in a statement. 2024 revenue bookings are trending up by a double-digit percentage amount and the company is expecting a pass benefits program to drive an increase in pass sales for the year, he added. The stock was not yet active premarket but has fallen 12% in the year to date, while the S&P 500
SPX,
has gained 14%.
