SeaWorld Entertainment on Tuesday warned that attendance at its theme parks plunged in the second quarter — and blamed the summer heat wave for keeping visitors away.
The Orlando Fla.-based company — which has a portfolio that includes SeaWorld, Busch Gardens and Sesame Place — said 6.1 million guests visited its amusement parks
That’s down from 6.3 million in the previous quarter, which the report attributed to “adverse weather,” likely referencing triple-digit temperatures scorching swaths of the country.
The decrease in foot traffic has brought revenues down with it.
SeaWorld Entertainment forecast it will bring in between $494 million and $497 million when the company releases second-quarter earnings report by Aug. 8.
The estimates mean profits will tank at least $7.8 million compared to Q1, when SeaWorld’s parent company enjoyed $504.8 million in revenues.
Once costs are subtracted, the theme park will take home between $85 million and $88 million — down from $116.6 million the previous quarter.
“The decline in net income is primarily due to an increase in interest expense as well as a reduction in total revenues,” the preliminary report concluded.
SeaWorld’s stock dipped nearly 2% to $54.43.
Representatives for the company declined to comment further on the preliminary earnings report.
Walt Disney Co. — America’s largest theme-park operator — as well as Universal Studios owner Comcast Corp. have also seen wait times get shorter as foot traffic has waned.
At Walt Disney World and Disneyland, visitors have reportedly shied away from the Mouse House’s Orlando, Fla., hub due to exorbitant ticket prices.
In November, Disney jacked up ticket prices to all four of its theme parks.
The cost of entering Magic Kingdom nearly doubled, with the lowest price for a one-day ticket in Orlando location running for anywhere between $124 and $189 depending on date and demand.
Epcot’s ticket was hiked to between $114 and $179, while Disney’s Hollywood Studios costs $124 to $179. Disney’s Animal Kingdom was the only park to keep its current price range at $109 to $159.
Three of Disney World’s annual passes — the Incredi-Pass, Sorcerer and Pirate — also got a price increase amid surging demand.
Disney CEO Bob Iger has pushed back on reports of worrisome drops in Disney World’s attendance, claiming that foot traffic is down because of difficult comparisons with 2020, when Florida’s lax COVID restrictions sparked an unusual boom at the theme park.
Similar increases were seen at Disney’s Anaheim, Calif.’s Disneyland, where single-day ticket prices were raised by as much as 10%.
For reference, a one-day ticket to SeaWorld in Orlando — which has seven coasters, a waterpark, zoo and aquarium — costs $99.99.
Meanwhile, a ticket to Busch Gardens in Virginia — SeaWorld Entertainment’s amusement featuring eight roller coasters — is $84.99.
And Pennsylvania’s Sesame Place will cost visitors just $54.99 for one day.
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