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SeaWorld Entertainment, Inc. announced its preliminary financial results for the second quarter of 2023. While the company’s financial statements for the period ending June 30, 2023, are not yet complete, preliminary estimates indicate a decline in attendance compared to the same period in 2022. Adverse weather conditions, particularly during peak visitation periods, contributed to the decrease in attendance. Total revenues for the quarter are expected to be around $494-$497 million, lower than the $504.8 million recorded in Q2 2022. The decline in revenue is primarily attributed to the decrease in attendance, partially offset by an increase in revenue per guest. Net income for the quarter is expected to be approximately $85-$88 million, down from $116.6 million in Q2 2022. The decline in net income is mainly due to increased interest expenses and a reduction in total revenues. Adjusted EBITDA is projected to be approximately $222-$225 million, compared to $234.4 million in Q2 2022. As of June 30, 2023, the company expects to have a cash and cash equivalents balance of around $147 million. It’s important to note that these estimates are subject to change as the company finalizes its financial statements and disclosures for the quarter. The final results may differ significantly from the preliminary estimates. SeaWorld Entertainment, Inc. expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, by August 9, 2023.
