Skip to main content

Market Overview

UPDATE: SeaWorld Entertainment Posts Downbeat Q2 Results, Lowers FY14 Outlook


Shares of SeaWorld Entertainment (NYSE: SEAS) dipped more than 10% in pre-market trading after the company reported downbeat second-quarter results and lowered its full-year forecast.

The Orlando, Florida-based company posted a quarterly profit of $37.3 million, or $0.43 per share, versus a year-ago loss of $15.9 million, or $0.18 per share. Excluding non-recurring items, the company earned $0.43 per share.

Its sales slipped 1% to $405.2 million from $411.3 million. However, analysts were expecting earnings of $0.60 per share on revenue of $448.37 million.

Its revenue per capita fell 1.8% in the quarter. Adjusted EBITDA fell to $126.1 million from $127.0 million. Attendance rose 0.3% to 6.6 million.

For 2014, SeaWorld now projects sales to drop 6% to 7% versus $1.46 billion in 2013.

SeaWorld also announced a $250 million share repurchase program effective January 1, 2015.

"We were pleased to report attendance growth in the quarter despite a challenging industry and competitive environment and a tough comparison to the prior year quarter, which included the attendance benefit from opening our largest expansion ever at SeaWorld Orlando. The increase in attendance results from the shift in the timing of Easter and favorable weather, partially offset by lower attendance at our destination parks," Jim Atchison, CEO and President of SeaWorld Entertainment said.

SeaWorld shares tumbled 10.12% to $25.30 in pre-market trading.


Related Articles (SEAS)

View Comments and Join the Discussion!

Posted-In: profitEarnings News Guidance Buybacks

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at