SeaWorld Reports Record Revenue; Shares Remain Neutral
SeaWorld (NYSE: SEAS) reported its fourth quarter and full year 2013 results on Thursday, March 13, 2014.
The company posted numerous improvements which include record revenue and record adjusted EBITDA. Despite record numbers and beating analysts' estimates, shares of the leading theme park and Entertainment Company are down $0.11 per share or 0.35 percent to $31.40.
The company reported record revenue of $1.4603 billion in 2013, which represented a three percent increase or $36.5 million, when compared to 2012. The theme park company also posted revenue of $272 million for the fourth-quarter; analysts expected revenue of 271.4 million.
For the fourth-quarter of 2013 the company posted a loss of $0.13 per share, which was a penny better than what analysts had estimated.
Record EBITDA was also recorded at $439.1 million in 2013, this represented an increase of six percent or $23.9 million.
Jim Atchison, President and Chief Executive Officer, commented, “Driven by record fourth quarter total attendance at our SeaWorld-branded parks in Orlando, San Diego and San Antonio, I am pleased to report our third consecutive year of record revenue and Adjusted EBITDA."
Atchison continued, "We ended the year with Adjusted EBITDA of $439.1 million, at the high end of our previously provided guidance range. We are pleased to deliver on the financial and operating commitments we made in our first year as a public company. Delivering these results in a challenging operating environment is a testament to the strength of our brands, company, management team and, most importantly, our team members."
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