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Nov. 9, 2021, 7:02 a.m. EST

SeaWorld stock set to fall after profit and revenue missed expectations, while attendance beat

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By Tomi Kilgore

Shares of SeaWorld Entertainment Inc. /zigman2/quotes/210357674/composite SEAS -2.17% were indicated down about 2% in premarket trading Tuesday, after the theme park operator reported third-quarter earnings that fell short of forecasts, as all theme parks were open without COVID-19-related capacity limitations but international travel restrictions limited group-related attendance. The company swung to net income of $102.1 million, or $1.28 a share, from a loss of $79.2 million, or $1.01 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.66. Total revenue jumped nearly fivefold to $521.2 million from $106.1 million, but was below the FactSet consensus of $536.6 million. Attendance of 7.2 million was down from 8.1 million in the same quarter of pre-pandemic 2019, but topped the FactSet consensus of 6.6 million, while total revenue per capita of $72.13 was up 23.7% from 2019 and above expectations of $61.00. "Our pricing and product strategies, along with the strong consumer demand environment, continued to drive higher realized pricing and strong guest spending in the quarter," said Chief Executive Marc Swanson. The stock has soared 117.7% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.55% has gained 25.2%.

/zigman2/quotes/210357674/composite
US : U.S.: NYSE
$ 61.87
-1.37 -2.17%
Volume: 49,741
Jan. 18, 2022 9:56a
P/E Ratio
36.20
Dividend Yield
N/A
Market Cap
$4.89 billion
Rev. per Employee
$559,559
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/zigman2/quotes/210599714/realtime
US : S&P US
4,590.54
-72.31 -1.55%
Volume: 376.62M
Jan. 18, 2022 9:57a
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