SeaWorld Entertainment Inc has released its third quarter 2022 earnings, and the company saw total revenue increase 8.4% to a record $565.2 million with attendance at 7.3 million visitors.
The good news for the company is that it's earning more, and customers are spending more when the are in the parks.
The downside is that despite strong trading figures, Hurricane Ian led to an estimated 90,000 fewer guests, and international and group visitors are still not back to pre-Covid levels.
Admissions revenue rose 5.7% while food, merchandise and other revenue jumped 12.1%.
Attendance was up 1.5% from a year ago to 7.3 million guests, but compared with the same period of pre-pandemic 2019, attendance was down 9.7%.
We had a meaningful impact from adverse weather in the quarter, including Hurricane Ian, that we estimate led to 90,000 less guest visits during the quarter; international and group visitation are still not back to pre-Covid levels; our staffing is still not at optimized levels; and inflationary pressures continue to impact our costs," said Chief Executive Mark Swanson.
Interestingly during the investors call, SeaWorld executives said beyond the new attractions coming to the theme parks, the company will also focus on other ways to improve the guest experience, including investing in park infrastructure and technology and creating and/or enhancing new animal habitats and food and beverage outlets.
"Looking ahead, we are very excited about our plans for 2023 and the investments that we have made and will be making that we expect will drive meaningful growth and new records in revenue and Adjusted EBITDA," concluded Swanson.
The Company has announced its line-up of new rides, attractions, events and upgrades, including, something new and meaningful in every one of its parks.
This line-up includes, among others:
Pipeline: The Surf Coaster at SeaWorld Orlando
Serengeti Flyer swing at Busch Gardens Tampa Bay
Darkoaster straddle coaster at Busch Gardens Williamsburg
Arctic Rescue rollercoaster at SeaWorld San Diego
Catapult Falls flume coaster at SeaWorld San Antonio
Riptide Race waterslide at Water Country USA
a refresh of Laguna Grill at Discovery Cove
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