SeaWorld Entertainment, Inc. reports record third quarter 2013 results

By | November 13, 2013

SEAWORLD PARKS & ENTERTAINMENT LOGOORLANDO, Fla. — SeaWorld Entertainment, Inc. (NYSE: SEAS), a leading theme park and entertainment company, reported financial results for the third quarter of 2013.

Highlights for the Third Quarter of 2013

  • Record revenue of $538.4 million, an increase of $16.1 million, or 3%, compared to the third quarter of 2012.
  • Record Adjusted EBITDA[1] of $254.4 million, an increase of $22.8 million, or 10%, compared to the third quarter of 2012.
  • Record net income of $120.2 million, an increase of $27.9 million, or 30%, compared to the third quarter of 2012.
  • Free Cash Flow of $140.8 million, an increase of $18.3 million, or 15%, compared to the same period in 2012.
  • Increased guidance for full year 2013 Adjusted EBITDA to be in the range of $432 million to $442 million.
  • Declared a cash dividend of $0.20 per share (paid on October 1, 2013).

“The third quarter is an extremely important period for our Company as the summer travel season accounts for a significant portion of our full year revenue and earnings. Given that, I am pleased to announce record results in revenue, Adjusted EBITDA, and net income. Our performance was driven by strong results at our SeaWorld branded parks, continued benefits from our pricing and yield management efforts, and effective cost management,” Jim Atchison, President and Chief Executive Officer of SeaWorld Entertainment, Inc. said. “We remain on track to finish our third straight year of record revenues and earnings with significant free cash flow growth.”

For the complete report please visit the SeaWorld Entertainment website.


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