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Sep 30, 2021
United Parks & Resorts Q3 2021 Earnings Report
Reported strong financial results with increased revenue, net income, and adjusted EBITDA, driven by pricing strategies and strong guest spending.
Key Takeaways
SeaWorld Entertainment, Inc. reported a strong third quarter, with significant increases in total revenue, net income, and Adjusted EBITDA compared to both 2020 and 2019. The company generated among its highest revenue and net income ever reported and another quarter of record Adjusted EBITDA. Total revenue was $521.2 million, net income was $102.1 million, and Adjusted EBITDA was $265.3 million.
Attendance was 7.2 million guests, an increase of 5.7 million guests from Q3 2020, but a decrease of 0.9 million guests compared to Q3 2019.
Total revenue increased to $521.2 million, a $415.1 million increase from Q3 2020 and a $47.5 million increase from Q3 2019.
Net income reached $102.1 million, a $181.3 million increase from Q3 2020 and a $4.1 million increase from Q3 2019.
Adjusted EBITDA was a record $265.3 million, a $276.5 million increase from Q3 2020 and a $58.4 million increase from Q3 2019.
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 anticipates a significant and exciting lineup of new rides, attractions, events, and upgrades in 2022, including the opening of Sesame Place San Diego in March 2022. These initiatives are expected to drive meaningful attendance and revenue growth.
Positive Outlook
- New rides and attractions across all parks.
- Expansion of popular Christmas events.
- Opening of Sesame Place San Diego.
- Strong consumer demand environment.
- Continued focus on pricing and product strategies.
Challenges Ahead
- Limited international guest attendance.
- Limited group-related attendance.
- Unfavorable calendar shift.
- Weather-impacted days.
- COVID-19 pandemic impacts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income