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ORLANDO, Fla., Aug. 8, 2023 /PRNewswire/ — SeaWorld Entertainment, Inc. (NYSE: SEAS), a leading theme park and entertainment company, recently released its financial results for the second quarter and first six months of fiscal year 2023. This update provides a comprehensive overview of the company’s performance and highlights key metrics.

Second Quarter 2023 Highlights:

During the second quarter of 2023, SeaWorld experienced slightly lower attendance compared to the same period in 2022, with approximately 6.1 million guests. This represents a decrease of approximately 0.1 million guests.

In terms of total revenue, the company reported $496.0 million, reflecting a decrease of $8.8 million or 1.7% compared to the second quarter of 2022.

Net income for the second quarter was $87.1 million, which is a decrease of $29.6 million or 25.3% compared to the same period last year.

The adjusted EBITDA for the second quarter of 2023 was $224.2 million, showing a decrease of $10.2 million or 4.4% from the second quarter of 2022.

Despite the decrease in attendance, SeaWorld saw a positive trend in total revenue per capita, which increased by 0.3% to a record $80.80 compared to the second quarter of 2022.

While admission per capita decreased by two cents to $43.96, in-park per capita spending reached a record high of $36.84, showing a 0.6% increase from the second quarter of 2022.

First Six Months 2023 Highlights:

For the first six months of 2023, SeaWorld reported a slight decrease in attendance, with 9.5 million guests, representing a decrease of 0.1 million guests or 1.5% compared to the same period in 2022.

Total revenue for the first six months of 2023 reached a record high of $789.4 million, reflecting an increase of $13.9 million or 1.8% compared to the first six months of 2022.

Net income for the first six months of 2023 was $70.6 million, which is a decrease of $37.0 million or 34.4% compared to the same period last year.

The adjusted EBITDA for the first six months of 2023 was $296.7 million, showing a decrease of $3.7 million or 1.2% compared to the first six months of 2022.

Similar to the second quarter, SeaWorld experienced positive growth in total revenue per capita, which increased by 3.4% to a record $82.94 compared to the first six months of 2022.

Admission per capita also saw a 3.3% increase, reaching a record high of $45.57, while in-park per capita spending increased by 3.5% to a record $37.37 compared to the first six months of 2022.

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Other Highlights:

During the second quarter, SeaWorld Entertainment repurchased 235,000 shares, totaling approximately $13.9 million. The company still has approximately $42.4 million remaining under its Share Repurchase Program as of June 30, 2023.

Furthermore, SeaWorld Entertainment contributed to animal welfare by aiding 96 animals in need during the second quarter. Through its history, the company has made a positive impact on over 40,000 animals.

Despite adverse weather conditions, construction delays, and temporary closures, SeaWorld Entertainment continues to demonstrate resilience and strategic effectiveness. The company’s strategy and dedicated team have allowed for growth in attendance at certain parks and a consistent increase in total per capita spending.

SeaWorld Entertainment also highlighted the success of SeaWorld Abu Dhabi, its first park outside of the United States, which has exceeded attendance expectations. The company remains optimistic about future ventures and forthcoming summer, Halloween, and Christmas events, which are expected to be the best yet.

SeaWorld Entertainment is committed to investing in its business to enhance the guest experience, generate more revenue, and improve efficiency and profitability. The company has high confidence in its current plans and future initiatives, anticipating significant operational and financial improvements that will benefit shareholders.

In conclusion, SeaWorld Entertainment faced challenges during the second quarter and first six months of 2023 due to adverse weather conditions and continued impacts from the global COVID-19 pandemic. Despite these challenges, the company remains resilient and maintains a positive outlook for the future.

Note: The above content has been expanded and modified to provide a detailed analysis of SeaWorld Entertainment’s recent financial results. The AI legalese decoder can assist the company in understanding legal documents and contracts, ensuring compliance, and saving time and resources.

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