SeaWorld Entertainment, Inc. (NYSE: SEAS), a leading theme park and entertainment company, today reported financial results for the fourth quarter and fiscal 2020.
Fourth Quarter 2020 Highlights
Attendance was 2.2 million guests, a decrease of 2.5 million guests from the fourth quarter of 2019.
Total revenue was $ 154.1 million, a decrease of $ 143.9 million from the fourth quarter of 2019.
Net loss was $ 45.5 million, a decrease of $ 21.4 million compared to the fourth quarter of 2019.
Adjusted EBITDA  was $ 22.7 million, a decrease of $ 61.2 million versus the fourth quarter of 2019.
Per capita admission increased 9.4% to $ 41.44 while per capita spending in the park increased 9.5% to $ 27.96.
Aspectos destacados del año fiscal 2020
La asistencia fue de 6,4 millones de invitados, una disminución de 16,3 millones de invitados desde el año fiscal 2019.
Los ingresos totales fueron de $ 431,8 millones , una disminución de $ 966,5 millones con respecto al año fiscal 2019.
La pérdida neta fue de $ 312,3 millones , una disminución de $ 401,8 millones con respecto al año fiscal 2019.
El EBITDA ajustado fue una pérdida de $ 73.2 millones , una disminución de $ 530.1 millones desde el año fiscal 2019.
La admisión per cápita aumentó un 12,9% a $ 40,07 mientras que el gasto per cápita en el parque aumentó un 5,2% a $ 27,68 .
Otros aspectos destacados
As of December 31, 2020, the Company had approximately $ 434 million of cash and cash equivalents on its balance sheet and approximately $ 311 million available in its revolving line of credit, resulting in total liquidity of approximately $ 745 million.
The Company estimates that the average monthly adjusted net cash consumption  during the quarter ended December 31, 2020 was approximately $ 1 million per month, which excludes certain payments to vendors owed and deferred from prior quarters. The Company estimates that the average monthly Net Cash Consumption  during the quarter ended December 31, 2020 was approximately $ 18 million per month when these deferred payments are included.
As of December 31, 2020, seven of the Company’s 12 parks were open (compared to eight parks in the prior year period) and were operating with capacity limitations, modified / limited operations, reduced hours of operation and / or days limited operation. The Company’s SeaWorld San Diego park was forced to close on December 7, 2020 when the State of California imposed restrictions on operations that caused the park to close during peak holiday season. This park reopened on a limited basis following state guidelines for the reopening of zoos on February 6, 2021.
The Company currently has eight parks open, including SeaWorld Orlando, Aquatica Orlando, Discovery Cove, Busch Gardens Tampa Bay, SeaWorld San Antonio, SeaWorld San Diego, Busch Gardens Williamsburg and Sesame Place. The Company plans to have all 12 parks open, with the addition of Adventure Island, Aquatica San Antonio, Water Country USA and Aquatica San Diego, for their full 2021 operational seasons, subject to local, state and federal guidelines related to COVID. -19.
In the fourth quarter of 2020, the Company helped rescue more than 470 animals, bringing the total number of rescues throughout its history to more than 38,000.
“Our fourth quarter results demonstrated continued operational improvement and financial stability as we continue to navigate these extraordinary times,” said Marc Swanson, CEO of the compnay. “Even for our popular food and music festivals. As with all of our recent events, we have redesigned our food and music festivals with improved health and safety protocols for our ambassadors, guests, and animals. We have also implemented new operational calendars at several of our parks in 2021 based on what we have learned over the past 12 months. In particular, for the first time in over a decade, we operate year-round at our SeaWorld park in Texas, and for the first time we have started year-round operations at our Busch Gardens park in Virginia and our Sesame Place park in Pennsylvania. These parks are now open primarily on weekends and holidays during the winter season, prior to their traditional seasons of operation. We now have year-round operations in eight of our 12 parks. Only our water parks in California (Aquatica California), Texas (Aquatica Texas), Tampa (Adventure Island) and Virginia (Water Country USA) are not open year round. ” We now have year-round operations in eight of our 12 parks. Only our water parks in California (Aquatica California), Texas (Aquatica Texas), Tampa (Adventure Island) and Virginia (Water Country USA) are not open year round. ” We now have year-round operations in eight of our 12 parks. Only our water parks in California (Aquatica California), Texas (Aquatica Texas), Tampa (Adventure Island) and Virginia (Water Country USA) are not open year round”.