SeaWorld Posts Record Revenue, Earnings in 2021

February 24, 2022, 1:03 PM · The SeaWorld Entertainment theme parks this morning reported record revenue and earnings for 2021.

Attendance at the company's theme and water parks was down 10.7%, to 20.2 million visitors in 2021 from the 22.6 million who visited in 2019, so the company's recovery from the pandemic that closed its parks in 2020 is not yet complete. But financially, SeaWorld is doing better than ever, with total revenue rising to a record of $1.5 billion in 2021. Adjusted EBITDA was a record $662 million for the year, rising 44.9% from 2019's $456.9 million.

Increases in per capita guest spending both on admission and in-park helped drive the revenue gains, with total revenue per capita increasing 20.4% from 2019 to $74.43 in 2021.

SeaWorld is spending part of that windfall to boost its stock price. During the fourth quarter of 2021, SeaWorld repurchased approximately 2.2 million shares of common stock, at a total cost of approximately $133 million.

For the fourth quarter of 2021, SeaWorld reported an attendance increase of 5.4% from the same period in 2019, to five million visitors in the quarter. Total revenue for the quarter increased to $370.8 million for the three-month period, amplified again by increases in guest spending.

"These results are a testament to the tireless work of our incredible team, the demonstrated resiliency of our business model and the continued successful implementation of our proven business plan and strategies," Chief Executive Officer Marc Swanson said. "Our fourth quarter and fiscal year financial performance would have been even better if not for limited international guest attendance and reduced group-related attendance related to the impacts of Covid-19."

SeaWorld is opening a rebranded Sesame Place park in the San Diego area next month, leading an expansion of new attractions across the chain, including the Ice Breaker roller coaster at SeaWorld Orlando this month, to be followed by official openings of Iron Gwazi at Busch Gardens Tampa Bay, Pantheon at Busch Gardens Williamsburg, and Emperor at SeaWorld San Diego next month.

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Replies (1)

February 27, 2022 at 2:50 PM

Thank you @Robert for sharing this interesting news about SeaWorld company. We know that it is becoming the most popular American theme park and entertainment company day by day. I really enjoyed their rides and all the other services. Actually, I am a student at California State University. I struggled to write my academic paper about business, So then luckily my friend suggest me this website where I got many example essay ideas on this topic that can help me to complete my academic assignment. Anyway, My passion is being a businessman and traveling around the world.

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