SeaWorld Entertainment (SEAS) Tops Q3 EPS by 6c
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SeaWorld Entertainment (NYSE: SEAS) reported Q3 EPS of $1.14, $0.06 better than the analyst estimate of $1.08. Revenue for the quarter came in at $485.3 million versus the consensus estimate of $484.55 million.
Third quarter total attendance was relatively flat. Attendance at the company's Florida park locations increased 1.3% in the third quarter, reflecting a positive impact from its capital investments in new attractions, which more than offset a decline in attendance from Latin America, an overall softness in the Orlando market and the impact of Hurricane Hermine. Absent the Latin America impact, attendance in Florida would have increased 4.0% in the third quarter.
The following updated guidance is based on the company's performance in the first nine months of 2016, recent developments including the impact of Hurricane Matthew on the company's fourth quarter attendance, and current management expectations regarding attendance. All financial guidance amounts are estimates subject to change, including as a result of matters discussed under the "Forward-Looking Statements" caption below and the company undertakes no obligation to update its guidance. With only one quarter left in the 2016 reporting year, the company is narrowing the range of its guidance, and it now expects Adjusted EBITDA for 2016 to be in the range of $310 million to $330 million.
For earnings history and earnings-related data on SeaWorld Entertainment (SEAS) click here.
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