SeaWorld Entertainment, showing no signs of a retreat from a rebound that began early last year, recorded a modest 1% gain in attendance during the second quarter, which includes the first part of its crucial summer season, the company reported Tuesday.
While growing at a slower rate than a year ago at this time, visitation was up by 100,000, bringing the total number of guests to 6.5 million during the quarter ending June 30. It also marks the sixth consecutive quarter of attendance gains by the Orlando-based theme park company.
Revenue growth during the quarter was even stronger, rising by 3.6% to $406 million, although it fell short of Wall Street expectations.
SeaWorld, however, outperformed Wall Street forecasts in net income, which surged 132% to $52.7 million _ a new record, Antorcha said. Earnings per share were 64 cents, up by 146 percent.
Attendance growth during the second quarter benefited in part from a slightly later Easter holiday and spring break, helping make up for poor weather at most of the company's 12 parks, especially in June, SeaWorld said. The company also credited a strong lineup of new attractions, favorable pricing and continued marketing.
"As you know, we featured a new ride, attraction and/or event at almost all of our parks this year and guest reception has been positive," CEO Gus Antorcha said in a statement. He added, however, that the company can do better.
"We will continue to refine our pricing and marketing strategies to drive revenue, improve operating efficiencies and increase operating margins, and we are confident we will deliver the significantly improved financial results this company is capable of achieving."
A year earlier, attendance and revenue both rose by 5 percent, with 290,000 more guests visiting SeaWorld parks compared with the second quarter of 2017.
The continued turnaround has been fueled by a number of factors, key among them, the company's renewed focus on thrill rides and a commitment to introduce more engaging attractions at a more frequent pace.
The San Diego park's second coaster in two years debuted in May, and work is underway on a third coaster, Mako, billed as the park's tallest roller coaster yet, at 153 feet high. Tidal Twister, the newest coaster, has been bedeviled by operational issues and currently is closed. Since opening to the public on May 24, it's been shut down twice and has now been closed more days than it's been open.
Also still closed is the park's decades old Bayside Skyride, which has not reopened since February when a gust of wind caused it to abruptly stop mid-ride. A total of 16 people had to be rescued. Last week, the park started conducting some mechanical tests of the individual gondolas, but there is still no word on when the ride will resume operation.
Continued financial gains by SeaWorld Entertainment seem to indicate that the years-long backlash from the 2013 "Blackfish" anti-captivity documentary is finally subsiding, People for the Ethical Treatment of Animals, though, has more recently shifted its focus from killer whales to dolphins. It has been attacking the company for how it cares for its population of dolphins, particularly in the Dolphin Days shows where trainers ride atop the mammals.
