SeaWorld Entertainment, Inc. (SEAS) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Company Participants Matthew Stroud - VP, IR Marc Swanson - CEO Michelle Adams - CFO & Treasurer Conference Call Participants Steven Wieczynski - Stifel, Nicolaus & Company Philip Cusick - JPMorgan Chase & Co. James Hardiman - Citigroup Eric Wold - B. Riley Securities Benjamin Chaiken - Crédit Suisse Michael Swartz - SunTrust Chris Woronka - Deutsche Bank Paul Golding - Macquarie Research Barton Crockett - Rosenbl ...

SeaWorld Entertainment, Inc. (SEAS) Q1 2022 Earnings Conference Call May 5, 2022 9:00 AM ET Company Participants Matthew Stroud - Vice President, Investor Relations Marc Swanson - Chief Executive Officer Elizabeth Gulacsy - Chief Financial Officer & Treasurer Conference Call Participants Steve Wieczynski - Stifel James Hardiman - Citi Chris Woronka - Deutsche Bank Ben Chaiken - Crédit Suisse Barton Crockett - Rosenblatt Securities Michael Swartz - Truist Securities Paul Golding - Macquarie Philip Cusick - J ...

Cautionary Statements This presentation contains "forward-looking statements" within the meaning of U.S. federal securities laws. All statements contained in this presentation other than statements of historical facts are forward-looking statements. You can identify forward-looking statements by the use of words such as "might," "will," "may," "should," "estimates," "expects," "continues," "contemplates," "anticipates," "projects," "plans," "potential," "predicts," "intends," "believes," "forecasts," "futur ...

Financial Data and Key Metrics Changes - In Q4 2021, the company generated record total revenue of $370.8 million, an increase of $72.8 million or 24.4% compared to Q4 2019 [15] - Record net income of $71.5 million was reported, compared to a net loss of $24.2 million in Q4 2019 [18] - Adjusted EBITDA reached a record $152.8 million, an increase of $68.8 million or 82% compared to Q4 2019 [18] - For the full year 2021, total revenue was a record $1.5 billion, an increase of $105.5 million or 7.5% compared to 2019 [19] - Record adjusted EBITDA for the full year was $662 million, an increase of $205.1 million compared to 2019 [20] Business Line Data and Key Metrics Changes - Attendance in Q4 2021 increased by 5.4% compared to Q4 2019, with a 20% increase when excluding international and group-related attendance [15][19] - Total revenue per capita in Q4 2021 was $74.87, up from $63.42 in Q4 2019, driven by higher admissions and in-park spending [16] - In-park per capita spending increased by 22.3% to $31.22 compared to Q4 2019 [16] Market Data and Key Metrics Changes - The company ended 2021 with over $800 million in available liquidity, including $443.7 million in cash and cash equivalents [8] - The deferred revenue balance as of the end of Q4 was $154.8 million, an increase of approximately 48.2% compared to December 2019 [21] Company Strategy and Development Direction - The company is focused on enhancing its parks with new rides and attractions, with a robust investment plan for future growth [7] - There is an emphasis on improving digital capabilities, including mobile app and CRM implementations, to enhance guest experience and operational efficiency [8] - The company is exploring inorganic growth opportunities related to hotels, new parks, and international expansion [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering operational and financial improvements, despite challenges from COVID-19 [5] - The company anticipates that the return of international and group attendance will significantly boost revenue [52] - Management highlighted the importance of cost reduction strategies to offset inflationary pressures [31] Other Important Information - The company received numerous industry honors in 2021, including recognition for its parks and attractions [9] - The company plans to spend approximately $150 million on core capital expenditures and an additional $30 million to $50 million on growth-related projects in 2022 [22] Q&A Session Summary Question: How should we think about the opportunity to grow EBITDA from current levels? - Management noted that attendance is still down compared to 2019, indicating potential for significant growth if attendance levels return [30] Question: What are some of the strategic opportunities the company is considering? - Management mentioned flexibility in using excess capital for investments, strategic opportunities, and potential M&A [34] Question: What is the expected contribution of Sesame Place to attendance and revenue? - Management expressed optimism about better margin and attendance profiles for the new park compared to the previous one [36] Question: How does the company view the labor environment and wage inflation in 2022? - Management is focused on finding efficiencies to offset labor costs and is expanding the use of international workers [43] Question: How much of the recent inflation has the company offset? - Management is continuously identifying efficiencies to mitigate inflationary pressures, particularly in labor and supply chain [48]

SeaWorld Entertainment, Inc. (SEAS) Q3 2021 Earnings Conference Call November 9, 2021 9:00 AM ET Company Participants Matthew Stroud – Investor Relations Marc Swanson – Chief Executive Officer Elizabeth Gulacsy – Chief Financial Officer and Treasurer Conference Call Participants Steve Wieczynski – Stifel Michael Swartz – SunTrust Operator Good morning, and welcome the SeaWorld Parks & Entertainment Third Quarter 2021 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructi ...

SeaWorld Entertainment, Inc. (SEAS) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Matthew Stroud – VP-Investor Relations Marc Swanson – Chief Executive Officer Elizabeth Gulacsy – Chief Financial Officer and Treasurer Conference Call Participants Michael Swartz – Truist Steven Wieczynski – Stifel James Hardiman – Wedbush Securities Brett Andress – KeyBanc Capital Markets Good day, and welcome to the SeaWorld Parks and Entertainment Second Quarter 2021 Earnings Conference Ca ...

Cautionary Statements This presentation contains "forward-looking statements" within the meaning of U.S. federal securities laws. All statements contained in this presentation other than statements of historical facts are forward-looking statements. You can identify forward-looking statements by the use of words such as "might," "will," "may," "should," "estimates," "expects," "continues," "contemplates," "anticipates," "projects," "plans," "potential," "predicts," "intends," "believes," "forecasts," "futur ...

Financial Data and Key Metrics Changes - Attendance in Q4 2020 decreased by approximately 2.5 million guests or 53% compared to the prior year quarter, showing an improvement from an 81% decline in Q3 2020 [37][38] - Revenue for Q4 2020 was $154 million, a decrease of $144 million or 48% compared to Q4 2019, primarily due to lower attendance [38] - Adjusted EBITDA for Q4 2020 was $22.7 million, a decline of $61.2 million compared to the prior year quarter, reflecting the impact of COVID-19 [43] - The net loss for Q4 2020 was $45.5 million, compared to a net loss of $24.2 million in Q4 2019 [42] Business Line Data and Key Metrics Changes - Total revenue per capita increased by 9.4% to $69.40 in Q4 2020, driven by strong improvements in both admissions and in-park spending [39] - Admissions per capita increased by 9.4% to $41.44, primarily due to higher prices in admission products [39] - In-park per capita spending increased by 9.5% to $27.96, attributed to increased guest spending and higher realized prices [40] Market Data and Key Metrics Changes - Monthly attendance trends showed a decline of 40% in October, 47% in November, and 44% in December, excluding parks in Virginia and California [19] - As of December 31, 2020, the current deferred revenue balance was $130.8 million, an increase of approximately 25% from December 2019 [51] Company Strategy and Development Direction - The company plans to have all 12 parks open for the full 2021 operating season, subject to local, state, and federal guidelines related to COVID-19 [15] - The company has implemented new operating calendars and year-round operations at several parks, indicating a shift towards more consistent revenue generation [13][14] - The focus remains on driving attendance and total revenue while eliminating unnecessary costs and identifying more efficient operational methods [59] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about attendance trends and the potential for revenue growth, particularly with the upcoming spring and summer seasons [78][80] - The company has identified approximately $100 million in cost savings from its 2019 cost base, which is expected to enhance profitability when attendance levels return to pre-pandemic levels [31][33] - Management emphasized the importance of safety and guest experience while implementing cost-saving measures [97] Other Important Information - The company reported a net loss for the fiscal year 2020 of $312.3 million, a significant decline from a net income of $89.5 million in 2019 [49] - The cash and cash equivalents balance as of December 31, 2020, was approximately $434 million, with total liquidity of about $745 million [54] Q&A Session Summary Question: Insights on higher per capita spending and cost savings - Management indicated that approximately half of the identified cost savings are fixed, while the other half is variable, which will return as attendance grows [68] Question: Impact of potential minimum wage increases on labor costs - Management acknowledged potential inflationary pressures but emphasized efforts to offset these costs through efficiencies and automation [72] Question: Indicators of demand for the back half of the year - Management noted that the pass base is at 70% of its peak in 2019, with strong early indicators for bookings and sales [78] Question: Current park mix and attendance trends - Management reported that local visitation was over 50% in Q4, with a meaningful amount of attendance still coming from outside local areas [86] Question: International expansion strategies - Management expressed interest in international opportunities, particularly in Abu Dhabi and potential markets like China [95] Question: Customer experience in light of labor efficiencies - Management assured that safety and guest experience remain priorities while implementing cost initiatives [97] Question: Capacity limits and trends in Orlando - Management stated that capacity limitations are driven by social distancing requirements, with expectations for gradual increases as guidelines change [105]

SeaWorld Entertainment, Inc. (SEAS) Q3 2020 Earnings Call November 5, 2020 9:00 AM ET Executives Matthew Stroud - SeaWorld Entertainment, Inc. Marc G. Swanson - SeaWorld Entertainment, Inc. Elizabeth Castro Gulacsy - SeaWorld Entertainment, Inc. Analysts Steven Moyer Wieczynski - Stifel, Nicolaus & Co., Inc. Stephen Grambling - Goldman Sachs & Co. LLC Paul Golding - Macquarie Capital (USA), Inc. Anna Lizzul - JPMorgan Securities LLC Brett Andress - KeyBanc Capital Markets, Inc. Benjamin Chaiken - Credit Sui ...

SeaWorld Entertainment, Inc. (SEAS) Q2 2020 Earnings Call August 10, 2020 9:00 AM ET Executives Matthew Stroud - SeaWorld Entertainment, Inc. Marc G. Swanson - SeaWorld Entertainment, Inc. Elizabeth Castro Gulacsy - SeaWorld Entertainment, Inc. Analysts Steven Moyer Wieczynski - Stifel, Nicolaus & Co., Inc. James Hardiman - Wedbush Securities, Inc. Brett Andress - KeyBanc Capital Markets, Inc. Timothy Conder - Wells Fargo Securities LLC Jason B. Bazinet - Citigroup Global Markets, Inc. Paul Golding - Macqua ...