Credit: SeaWorldSeaWorld saw a steady decline in revenue during its quarter two results, despite a new Park opening overseas.
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SeaWorld Reports Its Q2 Earnings, and They’re Not Great
Ashley Carter on Twitter reported this morning on the Q2 earnings report that recently came out of SeaWorld, the major waterpark and theme Park that operates in four different theme Parks across the World, with a major one being in Orlando, Florida, not too far from Disney World and Universal Orlando Resort. According to the recent revenue reports, the numbers seem to be down despite a brand-new SeaWorld opening in Abu Dhabi in the middle east. Here are the numbers as they stand now:
- Attendance dropped by 165,000 Guests, bringing in a total of 6.1 million
- The company did blame the decline in Guests attending the Parks due to “adverse weather” across most markets.
- A decrease of $8.8 million, bringing the total for Q2 to $496 million
- Net income dropped by $29.6 million, bringing a total for Q2 to $87.1 million
CEO Marc Swanson had some interesting things to say about this Q2 report.
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According to SeaWorld CEO Marc Swanson, he was pleased to report on another quarter of “solid financial results despite the impact of significantly adverse weather.” The CEO mentioned that the in-Park revenue closures and related disruptions due to construction delays, along with the shift timing of new rides opening, led to the steady decline in Park attendance across the market. SeaWorld opened a new theme Park in the middle east, specifically in Abu Dhabi, its first theme Park outside of the United States. CEO Mark Swanson also had some choice words about the grand opening of this new theme Park overseas.
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We are really proud of this park, happy to see attendance well ahead of expectations to date and excited for what this park will deliver over time.
In the earnings call, Swanson says the company continues to make progress on its hotel plans, stating that they are currently “refining” their design planning on their first hotel and expect to begin opening in 2026. Despite declining revenue and attendance across the board, Swanson also mentioned how SeaWorld is “extremely excited” about the new investments and initiatives coming to its Parks in 2024. Swanson said there will be something “new” for each Park next year, and more news about these new “additions” will come soon.