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Mar 31, 2022
United Parks & Resorts Q1 2022 Earnings Report
Reported record financial results in Q1 2022, with attendance and revenue increases, and the smallest net loss reported in a first quarter.
Key Takeaways
SeaWorld Entertainment, Inc. reported record financial results for the first quarter of 2022. Attendance increased by 53.7% compared to Q1 2021, reaching 3.4 million guests. Total revenues reached a record of $270.7 million, a 57.5% increase from the previous year. The net loss was $9.0 million, the smallest net loss the Company has reported in a first quarter.
Attendance increased by 53.7% from the first quarter of 2021, reaching 3.4 million guests.
Total revenues was a record $270.7 million, up 57.5% from the first quarter of 2021.
Net loss was $9.0 million, an improvement of 80.0% from the first quarter of 2021.
Adjusted EBITDA was a record $65.9 million, an increase of 161.8% from the first quarter of 2021.
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
Forward demand indicators are encouraging, the pass base is at a record high, international and group business is returning, and pricing power and efficiency initiatives are expected to offset cost pressures and expand margins. New rides and attractions have been well-received, and the new Sesame Place San Diego park is showing promising early results. The company expects to continue delivering operational and financial improvements, leading to meaningful increases in shareholder value.
Positive Outlook
- Forward demand indicators are encouraging.
- Pass base is at a record high.
- International and group business is returning.
- Pricing power and efficiency initiatives are expected to offset cost pressures and expand margins.
- New rides and attractions have been well-received.
Revenue & Expenses
Visualization of income flow from segment revenue to net income