ORLANDO, Fla. _ Attendance slipped at SeaWorld Entertainment's Florida attractions in the second quarter because of a shift in holiday timing and a decline in Latin American attendance.
The company reported a second-quarter 7.6 percent decline in attendance company-wide, primarily due to a decrease in visitors at the company's Florida parks.
The Orlando-based company reported an adjusted net income of $18 million in the second quarter, slightly lower than the $18.7 million reported the previous year. SeaWorld generated $371.1 million in revenue, a decrease of $20.5 million, compared to the second quarter of 2015.
The company forecast that its earnings before interest, taxes, depreciation and amortization would be in the range of $310 million to $340 million this year. In May, SeaWorld forecasted an adjusted EBITDA of between $335 million to $365 million.
Last year, the adjusted EBITDA was $361.1 million.
"While implementation of our plan through the first half of 2016 is delivering early indications of progress outside of Florida, second quarter overall was below expectation we shared in May," said SeaWorld President and Chief Executive Officer Joel Manby in an earnings report.
Manby said the "overall downturn" in the Orlando market in the second part of June contributed to the decline. July monthly attendance for SeaWorld's Florida properties, however, increased 4 percent year-over-year.
The opening of two new attractions, Mako at SeaWorld Orlando and Cobra's Curse at Busch Gardens Tampa Bay, is being credited for the boost.
"Early indications for the third quarter have also been encouraging as our new rides are receiving positive reviews," said Manby in the report.
