SeaWorld(US:SEAS)2025-05-12 10:38Attendance and Guest Metrics - Attendance for the first quarter of 2025 was 3.4 million guests, a decrease of approximately 59,000 guests or 1.7% from the first quarter of 2024[7] - April 2025 attendance was up 8.1% compared to April 2024[4] - Attendance for Q1 2025 was 3,391 thousand, a decline of 1.7% compared to 3,450 thousand in Q1 2024[37] Financial Performance - Total revenue for the first quarter was $286.9 million, a decrease of $10.5 million or 3.5% from the first quarter of 2024[7] - Net loss for the first quarter was $16.1 million, an increase of $4.9 million from the first quarter of 2024[7] - Adjusted EBITDA for the first quarter was $67.4 million, a decrease of $11.7 million or 14.8% from the first quarter of 2024[7] - Total revenues for Q1 2025 were $286.949 million, a decrease of 3.5% from $297.423 million in Q1 2024[29] - Admissions revenue decreased by 5.8% to $156.115 million compared to $165.809 million in the previous year[29] - Net loss for Q1 2025 was $16.133 million, representing a 44.0% increase in losses from $11.201 million in Q1 2024[29] - Operating income fell by 23.7% to $16.888 million from $22.141 million year-over-year[29] - Adjusted EBITDA for Q1 2025 was $67.440 million, down 14.8% from $79.154 million in Q1 2024[31] Revenue and Spending Metrics - In-park per capita spending increased 1.1% to a record $38.58 from the first quarter of 2024[7] - Total revenue per capita decreased 1.8% to $84.62 from the first quarter of 2024[7] - Admission per capita decreased 4.2% to $46.04 from the first quarter of 2024[7] - Total revenue per capita decreased by 1.8% to $84.62 from $86.21 year-over-year[37] - Admission revenue per capita declined by 4.2% to $46.04, while in-park per capita spending increased slightly by 1.1% to $38.58[37] Cash Flow and Debt - Cash and cash equivalents decreased to $75.665 million from $115.893 million as of March 31, 2024[33] - Total long-term debt remained relatively stable at $2.259 billion compared to $2.263 billion in the previous year[33] - The company reported a significant decline in net cash provided by operating activities, which fell by 64.0% to $25.715 million from $71.446 million[31] Capital Expenditures - Capital expenditures for Q1 2025 were $56.903 million, a decrease of 34.8% from $87.286 million in Q1 2024[31] - Total capital expenditures decreased by 34.8% to $56.903 million in Q1 2025 from $87.286 million in Q1 2024[35] - Core capital expenditures fell by 17.1% to $49.851 million, while expansion/ROI project expenditures dropped significantly by 74.1% to $7.052 million[35] Future Outlook - The company expects new records in revenue and Adjusted EBITDA in 2025, with approximately 75% of historical attendance and revenue opportunity still ahead as of April 30, 2025[4] - The company repurchased approximately 100,000 shares for an aggregate total of approximately $4.6 million during the first quarter[12] - Deferred revenue increased to $195.878 million from $152.655 million year-over-year[33]