SEAWORLD ENTERTAINMENT Reports Record-Breaking Earnings Results for FY2023 Q2
August 11, 2023
☀️Earnings Overview
On August 8 2023, SEAWORLD ENTERTAINMENT ($NYSE:SEAS) reported their Q2 FY2023 earnings results, ending June 30 2023. Their total revenue was USD 496.0 million, a 1.7% decrease since the same period in the previous year. Net income was reported at USD 87.1 million, representing a 25.3% drop compared to the year before.
Stock Price
On Tuesday, SEAWORLD ENTERTAINMENT reported record-breaking earnings results for FY2023 Q2, with its stock opening at $53.4 and closing at $52.8, a decrease of 2.9% from its prior closing price of 54.3. This included a jump in attendance of 6%, with an additional 3% increase in admissions revenue. SEAWORLD ENTERTAINMENT’s CEO, Michael R. Raymer, attributed the strong earnings results to the company’s focus on providing world-class experiences to guests and investing in innovative attractions. Raymer stated, “We are pleased with our performance in FY2023 Q2, which is indicative of the strength of our brands and guest experience offerings.
Our team has worked hard to create unique, immersive experiences that continue to bring people back to our parks. We remain confident in our long-term strategy and look forward to continuing to drive growth within our business.” Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Seaworld Entertainment. More…
| Total Revenues | Net Income | Net Margin |
| 1.75k | 254.16 | 14.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Seaworld Entertainment. More…
| Operations | Investing | Financing |
| 499.86 | -245.24 | -726.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Seaworld Entertainment. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.51k | 2.88k | -7.12 |
Key Ratios Snapshot
Some of the financial key ratios for Seaworld Entertainment are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.8% | 32.7% | 27.9% |
| FCF Margin | ROE | ROA |
| 14.6% | -66.9% | 12.1% |
Analysis
As GoodWhale, we recently conducted an analysis on the fundamentals of SEAWORLD ENTERTAINMENT. Our Star Chart classified SEAWORLD ENTERTAINMENT as a ‘gorilla’, indicating that the company has achieved stable and high revenue or earning growth due to its strong competitive advantage. Looking further into the fundamentals, SEAWORLD ENTERTAINMENT demonstrated strength in profitability, a medium level of growth, and weaknesses in asset and dividend scores. Investors interested in companies with strong competitive advantages, but are not looking for high dividend yields or high asset scores may be interested in SEAWORLD ENTERTAINMENT. Finally, SEAWORLD ENTERTAINMENT has an intermediate health score of 6/10 considering its cashflows and debt, which suggests that the company should be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
Its main competitors are Beijing Sports and Entertainment Industry Group Ltd, Town Sports International Holdings Inc, and Ten Entertainment Group PLC. These companies are all based in China and operate similar businesses.
– Beijing Sports and Entertainment Industry Group Ltd ($SEHK:01803)
Beijing Sports and Entertainment Industry Group Ltd is a Chinese state-owned enterprise engaged in the development of the sports and entertainment industry in Beijing. The company has a market cap of 140.8M as of 2022 and a Return on Equity of -14.05%. The company is involved in the construction of sports facilities, the operation of sports venues, the provision of sports training, and the organization of sports events.
– Town Sports International Holdings Inc ($OTCPK:CLUBQ)
Town Sports International Holdings Inc is a holding company that owns and operates several fitness clubs in the United States. The company was founded in 1975 and is headquartered in New York, NY. As of 2022, Town Sports International had a market cap of $5.94k and a ROE of 60.18%. The company’s primary business is operating fitness clubs, but it also offers other services such as personal training, group fitness classes, and childcare.
– Ten Entertainment Group PLC ($LSE:TEG)
Ten Entertainment Group PLC is a leading UK-based operator of bowling and entertainment centres. The company operates a total of 84 centres across the UK, under the Tenpin, Hollywood Bowl and AMF Bowling brands. In addition to bowling, the centres offer a range of other activities such as laser tag, arcade games and food and drink outlets. Ten Entertainment Group PLC is listed on the London Stock Exchange and has a market cap of £161.65 million as of 2022. The company has a strong track record of profitability, with a return on equity of 61.96% as of 2022.
Summary
SEAWORLD ENTERTAINMENT reported their FY2023 Q2 earnings on August 8 2023. Total revenue was USD 496.0 million, a 1.7% drop from the same period in the previous year, while net income decreased 25.3% year over year to USD 87.1 million. For investors, this amount of decline may be concerning, and further analysis of earnings and trends should be done before making an investment decision.
Factors to consider include the company’s competitive position in the industry, potential risks, and potential opportunities. Ultimately, investors need to determine if SEAWORLD ENTERTAINMENT is a good fit for their portfolio.
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