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Jun 30, 2022
United Parks & Resorts Q2 2022 Earnings Report
Reported record total revenue and Adjusted EBITDA, with attendance and per capita spending increases.
Key Takeaways
SeaWorld Entertainment, Inc. reported a record total revenue of $504.8 million for the second quarter of 2022, an increase of 14.8% compared to the second quarter of 2021. Net income was $116.6 million, and Adjusted EBITDA was a record $234.4 million. Attendance increased by 7.8% to 6.3 million guests, and total revenue per capita increased by 6.4% to $80.59.
Attendance was 6.3 million guests, an increase of 7.8% from Q2 2021.
Total revenue was a record $504.8 million, an increase of 14.8% from Q2 2021.
Net income was $116.6 million, a decrease of 8.7% from Q2 2021.
Total revenue per capita increased 6.4% to a record $80.59 from Q2 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
Preliminary July revenue continued to grow versus a record July 2021 and was up approximately 20% compared to July 2019 and the company looks forward to closing out what they expect to be another solid summer.
Positive Outlook
- Preliminary July revenue continued to grow versus a record July 2021
- July revenue was up approximately 20% compared to July 2019
- Excited about popular Halloween events scheduled at SeaWorld, Busch Gardens and Sesame Place parks
- Building on the strength of last year, including the return of “Howl-O-Scream” at SeaWorld Orlando and SeaWorld San Diego
- First year of the Count’s Halloween Spooktacular at newest park, Sesame Place San Diego
Challenges Ahead
- Results still do not reflect a normalized operating environment
- Still have significant scope to improve execution and financial results
- International and group related visitation is better than 2021 but not yet back to pre-COVID levels
- Staffing improved over the course of the second quarter, but we are still not yet at optimized staffing levels
- Inflationary pressures while moderating, continue to impact costs across the enterprise
Revenue & Expenses
Visualization of income flow from segment revenue to net income