SeaWorld Entertainment Clocks 5.3% Topline Growth In Q4, Attendance Slides Due To Adverse Weather, Hurricanes

SeaWorld Entertainment Inc SEAS reported fourth-quarter FY22 sales growth of 5.3% year-on-year to $390.5 million, beating the consensus of $382.1 million.
Attendance was 4.9 million guests, down by 16,000 from last year. Attendance increased by 5.1% versus 4Q19.
Adverse weather unfavorably impacted attendance during the quarter.
Revenue per capita increased 5.7% Y/Y to $79.10, and in-park per capita spending rose 7.2% to $33.47.
Total costs and expenses rose 1.1% Y/Y to $288.65 million.
Operating margin was 26.1%, up by 308 bps, as the operating income improved by 19.4% Y/Y.
Adjusted EBITDA decreased by 185 bps to 39.4% as the adjusted EBITDA remained flattish Y/Y.
EPS of $0.76 topped the analyst consensus of $0.73.
The company held $79.2 million in cash and equivalents. Cash flow from operations totaled $95.7 million in the quarter, with a free cash flow of $45.7 million.
CEO Marc Swanson said, "Results for the fourth quarter versus the prior year would have been even better if it weren't for significant adverse weather impacts in most of our markets during the November and December holiday period and the negative impact of Hurricane Ian in October and Hurricane Nicole in November. We estimate that these combined weather-related impacts reduced attendance by approximately 249,000 guest visits during the quarter. We continued to drive growth in total per caps, including during our Halloween and Christmas events during the quarter, demonstrating the effectiveness of our revenue strategies, our pricing power, and the strength of consumer spending in our parks."
Price Action: SEAS shares traded higher by 2.52% at $65.62 on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SeaWorld Entertainment Clocks 5.3% Topline Growth In Q4, Attendance Slides Due To Adverse Weather, Hurricanes