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Mar 31, 2020
United Parks & Resorts Q1 2020 Earnings Report
SeaWorld Entertainment, Inc. experienced a significant decrease in revenue and attendance due to park closures caused by the COVID-19 pandemic.
Key Takeaways
SeaWorld Entertainment, Inc. reported a decrease in attendance and total revenue for the first quarter of 2020 due to the closure of all its parks on March 16, 2020, in response to the COVID-19 pandemic. Prior to the closures, the company had a strong start to the year with record-setting results through February. The company took proactive measures to strengthen its financial position and enhance liquidity.
Attendance decreased by 1.0 million guests to 2.3 million guests compared to Q1 2019.
Total revenue decreased by $67.0 million to $153.6 million compared to Q1 2019.
Net loss increased by $19.5 million to $56.5 million compared to Q1 2019.
Company closed on a $227.5 million private offering of 8.75% first-priority senior secured notes.
United Parks & Resorts
United Parks & Resorts
United Parks & Resorts Revenue by Segment
Revenue by Segment
Admissions Revenue
CapyFin.comFood, Merchandise and Other Revenue
CapyFin.com Forward Guidance
The Company estimates its average monthly net cash outflows will be between $20 million and $25 million per month while its parks remain closed and believes it can sustain its current level of monthly cash outflows into the fourth quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income