SeaWorld Entertainment Posts Narrower Q1 Loss

reported a narrower-than-expected loss for the first quarter. The Orlando, Florida-based company posted a quarterly loss of $43.6 million, or $0.51 per share, versus a year-ago loss of $49.2 million, or $0.56 per share. Its revenue rose around 1 percent to $214.6 million. However, analysts were projecting a loss of $0.59 per share on revenue of $210.84 million. The average estimate among 3 Estimize users was for a loss of $0.52 per share and revenue of $217.93 million. In the latest quarter, attendance rose 5.6 percent. Revenue generated per capita slipped 4.2 percent to $66.77, versus $69.72, a year ago. In-park per capita spending slipped 1.7 percent to $24.19 in the first quarter. Adjusted EBITDA in the first quarter was a loss of $3.8 million, versus a year-ago loss of $15.0 million. "The timing of Easter, our consumer event programs, strong passholder visitation and increased promotional offerings helped drive attendance growth in the first quarter," said Joel Manby, President and Chief Executive Officer of SeaWorld Entertainment, Inc. "Looking ahead to the remainder of the year, we remain cautious as the first quarter accounts for a relatively small portion of full year attendance, competitive pressures remain in Orlando and our marketing and reputation campaigns are still in their early stages." SeaWorld Entertainment shares fell 2.46 percent to $21.01 in pre-market trading.