SeaWorld reports Q1 EPS (44c), consensus (63c)
Reports Q1 revenue $220.58M, consensus $215.91M. Attendance increased by 100,000 or 3.6%, to 3.3M guests from the Q1 of 2018. Reports Q1 revenue per capita $66.04. "We are pleased with our first quarter results that exceeded the prior year quarter. Increased attendance and revenue growth and the realization and flow through of cost savings are demonstrating improved operating leverage," said Gus Antorcha, CEO of SeaWorld. "Attendance and revenue primarily benefitted from increased demand and increased in park spending which was partially offset by impacts from unfavorable weather in some of our parks and the shift in the timing of Easter and school spring break in some of our markets from the first quarter to the second quarter. Our improved results reflect our focus on improved marketing and communications initiatives, new pricing strategies, and the favorable guest reception to our new rides and compelling attractions and events. Our results also reflect the impact of our successful and ongoing efforts to reduce costs. Despite this solid start to the year, we know we still have significant opportunity for further improvement."