SeaWorld Entertainment, Inc. (NYSE:SEAS) is a Florida-based theme park and entertainment company.
SeaWorld has been witnessing a decline in total revenue per capita mostly due to lower attendance. Negative publicity associated with captive whales and prolonged scrutiny of employee safety practices have hurt revenues in the recent past. Even promotional offerings have not been able to arrest the decline in traffic trends. Also, costs related to marketing and reputation campaigns hurt profits. Nevertheless, SeaWorld Entertainment is making every possible effort to regain customer confidence.
Investors should also note that earnings estimate for SEAS has mostly been downward for sometime. Last quarter, it posted a positive earnings surprise of 6.67%. However, this Florida-based company has missed earnings in three of the last four quarters with an average negative surprise of 12.72%.
Currently, SEAS has a Zacks Rank #3, but that could definitely change following SeaWorld Entertainment’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: SEAS missed on earnings. Our consensus earnings estimate called for EPS of $0.23 /share, and the company reported adjusted earnings of $0.21/ share instead. Investors should note that these figures take out stock option expenses.
Revenues: SEAS reported revenues of $371.1 million. This slightly missed our consensus estimate of $372 million.
Key Stats to Note: During the quarter, Admissions revenue declined 6% and Food, Merchandise and Other revenue declined 4%.
Stock Price: Shares was inactive in pre-market trading.
Check back later for our full write up on this SEAS earnings report later.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
SEAWORLD ENTERT (SEAS): Free Stock Analysis Report
Original post
Zacks Investment Research