SeaWorld earnings rise, revenue beat expectations

SeaWorld earnings rise, revenue beat expectations

SeaWorld Entertainment Inc. SEAS, -1.57% reported third-quarter earnings that rose from a year ago and revenue that exceeded expectations, as new pricing strategies and marketing initiatives helped drive improved attendance. The stock was still inactive in premarket trade. Net income increased to $95.99 million, or $1.11 a share, from $55.03 million, or 64 cents a share, in the same period a year ago. The results include $3.9 million in severance-related costs. The FactSet consensus for net earnings per share was $1.09. Total revenue rose 10.4% to $483.2 million, above the FactSet consensus of $475.4 million, as attendance grew 9.7% to 8.3 million guests to match expectations. Admission per capital fell 3.7% to $33.54, below the FactSet consensus of $33.70, but total revenue per capita rose 0.7% to $57.91 to top expectations of $57.6. The stock has run up 94% year to date, while the S&P 500 SPX, -0.63% has gained 1.9%.

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