Seaworld Entertainment (SEAS) Posts Q1 Loss of 56c/Share

Seaworld Entertainment (NYSE: SEAS) reported Q1 EPS of ($0.56), $0.09 worse than the analyst estimate of ($0.47). Revenue for the quarter came in at $212.3 million versus the consensus estimate of $217.51 million.

The decrease in revenue was primarily driven by a 13.0% decrease in attendance, partially offset by a total revenue per capita increase of 2.2% from $68.19 in the first quarter of 2013 to an all-time record of $69.72 in the first quarter of 2014. Attendance in the first quarter was impacted by a shift in the timing of Easter into the second quarter of 2014, which caused a shift in the Spring Break holiday period for schools in many of the Company's key source markets. Attendance was also impacted by adverse weather, particularly above average precipitation in the Florida market as well as below average temperatures in the Texas market for the first quarter of 2014.

Admission per capita, defined as admissions revenue divided by total attendance, increased by 3.6% from $43.56 in the first quarter of 2013 to $45.12 in the first quarter of 2014 primarily as a result of higher ticket pricing and the mix of ticket products sold. In-park per capita spending, calculated as food, merchandise and other revenue divided by total attendance, remained relatively flat at $24.60 in the first quarter of 2014 compared to $24.63 in the prior year quarter.

For earnings history and earnings-related data on Seaworld Entertainment (SEAS) click here.

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