SeaWorld Entertainment Corporate News (Old Leadership Thread)

[HandsomePete]

Practically all of the major tourist attractions on Yas Island are owned by Miral (Sea World included), so they’re the Oriental Land Company equivalent. They’ll write a check to United Parks probably based on various percentages of each revenue source, like admissions, F&B, merch, and then probably some sort of base marketing/IP fee.

Financial statement implication is obviously higher revenue but that revenue will flow down to profit at a higher margin than the rest of the owned and operated locations.

 

[GAcoaster]

SeaWorld's Q2 numbers seem to be making Wall St. happy. Their stock is up on their earnings release:

https://finance.yahoo.com/news/united-parks-resorts-inc-reports-103000956.html

 

[UniversalRBLX]

Their results are relatively flat to last year, revenue solely up to due to higher prices through in-park spending.

Admission Revenue Down -2.2% | Admission Per Capita Down -2.9%
Food/Merch/Other Up 3.3% | Per Capita Up 2.5%
Operating Expenses Down -2.2%
Operating Income Up 5.8%
Attendance Up 0.3%

So admission revenue went down, however attendance went up... so those promos are working to get people in. Expenses are down -2.2% so it's helping their bottom line. Food/Merch costs were up, so SeaWorld has been cutting on labor/other expenses, which is pretty obvious when visiting the parks. Q3 is their biggest quarter, so it'll be interesting to see if this trend continues.

 

[GAcoaster]

United Parks is offering free tickets to the first responders and the line workers who have been working so hard to restore the power in the wake of the hurricanes:

– Company Announcement - FT.com

The latest company information, including net asset values, performance, holding & sectors weighting, changes in voting rights, and directors and dealings.

markets.ft.com