SeaWorld Entertainment Inc. saw attendance and profit generated from its 12 parks dip in the fourth quarter, the company said Tuesday.
The Orlando-based theme park operator posted a net loss of $11.9 million, or 14 cents a share, in the three-month period ended Dec. 31 — larger than the $9.1 million loss projected by analysts. During the same period last year, SeaWorld posted a loss of $11 million, or 13 cents a share.
Attendance during the fourth quarter fell by about 30,000 people, which the company attributed to Hurricane Matthew and declining visits from Latin America. Improved attendance at SeaWorld’s California and Texas parks “largely offset” decreases elsewhere.
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Fourth-quarter revenue was slightly down year-over-year. SeaWorld saw $267.6 million in receipts compared with $267.9 million the previous year. Analysts had projected the park operator would see receipts of about $269.3 million.
SeaWorld reported $1.34 billion in revenue for 2016, roughly 2 percent less than the $1.37 billion took in during 2015.
The company posted a net loss of $12.5 million, or 15 cents a share, for 2016. In 2015, the company posted $49.1 million in net income, or 57 cents a share.
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The park operator said attendance declined by 471,000 visitors in 2016, a drop of 2.1 percent from the previous year, in part because of bad weather and evaporating visits from Brazilian tourists at its park in Orlando during the second quarter and at its parks in the northeastern U.S. during the third quarter, the company said.
However, SeaWorld said it saw a bump in attendance at its San Antonio park, though it did not give exact figures.
“Building on the platform for growth we established in 2016, we are energized going into 2017 as we launch some of the most innovative new rides and attractions in our history, while deploying our capital more efficiently,” SeaWorld CEO and President Joel Manby said in a statement.
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