SeaWorld Announces 2020 Financial Results

February 25, 2021, 10:39 AM · SeaWorld Entertainment today reported a 72 percent decline in attendance, from 22.62 million guests in 2019 to 6.37 million in 2020, due to the pandemic. That resulted in a 69 percent in revenue for the year and a net loss of $312 million in 2020.

However, SeaWorld also reported a nearly 10 percent increase in per capita revenue in 2020, up to $67.75 per visitor, driven by increases in both admission and in-park spending per capita. And SeaWorld's Interim Chief Executive Officer pointed to financial improvement during the fourth quarter relative to the rest of what has been an historically tough year.

"We are pleased we generated positive Adjusted EBITDA in the quarter and our net cash flows approached breakeven, excluding deferred vendor payments, reflecting our continued focus on expense and cash management and improving attendance and operating trends," Marc Swanson said. "I am pleased with our strong total revenue per capita performance during the quarter, despite Covid-19 operational impacts and a higher mix of season pass guests when compared to the prior year. Our pricing and product strategies are working, and our guests are spending when they visit our parks."

Swanson also noted that SeaWorld Entertainment's theme parks have moved to year-round operation and are all open, at least on weekends, at this time, with the exception of some water parks.

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