Continue Reading Below
The Orlando, Fla.-based amusement-park company on Thursday posted a loss of $79.2 million for the third quarter, or $1.01 a share, compared with a profit of $98 million, or $1.24 a share, in the same period last year. Analysts polled by FactSet were expecting losses of 83 cents a share.
Revenue fell 78% to $106.1 million. Analysts were looking for $99.1 million.
Attendance fell 80% to 1.6 million guests for the quarter. Admissions revenue per person rose 22% to $40.39. In-park spending per person rose 8.9% to $27.55.
The company’s 10 of 12 parks were operating at the end of September, said Marc Swanson, SeaWorld’s interim chief executive.
The company in September laid off some of the park and corporate employees it furloughed earlier this year, joining companies that are making their job reductions permanent as they reassess staffing plans and settle in for a long period of uncertainty during the Covid-19 pandemic.
SeaWorld had a liquidity of about $800 million as of Sept. 30, it said.