Core Points - SeaWorld Orlando is launching a promotion offering free draft beer for guests aged 21 and older, available daily from 12 p.m. until one hour before park close [1][4] - The park is hosting a Summer Spectacular celebration featuring new attractions, including a drone show and live entertainment [2][5] Promotions and Offers - Guests can enjoy one complimentary 7 oz. draft beer per visit, while Pass Members can receive up to two per day [1][4] - An Annual Pass promotion includes a free upgrade to the next tier, unlimited visits, and special benefits such as discounted drinks at select bars [5][6] New Attractions and Events - The newly opened Expedition Odyssey offers an immersive Arctic flying theater experience with real wildlife encounters [5] - A first-of-its-kind drone show will synchronize with music and transition into a fireworks display, enhancing the park's evening entertainment [5] - Other new shows include Hydro Surge, Baby Shark's Big Celebration, and fan-favorite events like the Shamu & Crew Parade and Rescue Tails [5] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation of marine life [7] - The organization has rescued over 42,000 animals and has contributed more than $20 million to conservation efforts globally [7]

Core Concept - SeaWorld Orlando has launched a new attraction called Expedition Odyssey, which offers an immersive Arctic experience combining advanced ride technology, real-world footage, and close encounters with Arctic wildlife [1][2][3] Attraction Features - Expedition Odyssey features a next-generation ride system with dynamic motion, providing a realistic experience as guests journey through glaciers, tundra, and the Arctic Ocean [2][3] - The attraction includes custom-shot video footage from remote Arctic locations, enhancing authenticity and guest immersion with wildlife such as polar bears, orcas, and beluga whales [3] Family-Friendly Experience - Designed for adventurers of all ages, Expedition Odyssey has a height requirement of only 39 inches, allowing families to enjoy the experience together [4] - The attraction is fully indoors, ensuring a year-round experience regardless of weather conditions [4] Animal Encounters - Guests can transition from the ride to real-life encounters with Arctic animals, including beluga whales, seals, and walruses [5] - A notable feature is Uki, an orphaned Pacific walrus calf, who is part of the attraction and provides a unique connection for guests [6] Additional Experiences - SeaWorld offers exclusive behind-the-scenes experiences, such as the Beluga Whales Up-Close Tour, allowing guests to learn about marine mammals [7] Promotional Offers - SeaWorld is currently running a Memorial Day Sale, offering up to 55% off on tickets, Fun Cards, and Annual Passes until May 18 [8][9] - The 2025 Fun Card is available for $139.99, providing park admission through December 31, 2025, at a lower price than a single-day ticket [9] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation of marine life [10] - The organization has rescued over 42,000 animals and has contributed more than $20 million to marine conservation efforts globally [10]

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $286.9 million, a decrease of $10.5 million or 3.5% compared to the first quarter of 2024, primarily due to decreases in admissions per capita and attendance [18][21] - Attendance decreased by approximately 59,000 guests or 1.7% year-over-year, with the Easter shift impacting attendance by approximately 140,000 guests [19][21] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million compared to the first quarter of 2024, influenced by revenue declines and timing-related expenses [21][22] Business Line Data and Key Metrics Changes - In-park per capita spending increased by 1.1%, marking growth for 19 of the last 20 quarters [6][21] - Admission per capita decreased by 4.2%, primarily due to a shift in peak visitation days and a change in the admissions product mix [19][21] - Operating expenses decreased by $3.6 million or 2.2%, attributed to a reduction in non-cash adjustments [20][21] Market Data and Key Metrics Changes - April 2025 attendance was up 8.1% compared to April 2024, indicating a positive trend despite the first quarter's challenges [7][18] - Year-to-date attendance through April showed approximately 1.3% growth on a fiscal basis [19] - International ticket sales were up low single digits year-over-year, with group bookings running ahead of the previous year [50][52] Company Strategy and Development Direction - The company is focused on significant investments in new rides, attractions, and events to enhance guest experiences and drive revenue [7][11] - Discussions are ongoing regarding the integration of branded hotels and unlocking the value of owned real estate [12][72] - The company is pursuing sponsorship opportunities, expecting to generate over $20 million in high-margin revenue over time [14][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving new records in revenue and adjusted EBITDA for 2025, with 75% of historical attendance and revenue opportunities still ahead [8][17] - The company is optimistic about the impact of new attractions and events, as well as the potential increase in visitation due to competitive market dynamics [34][65] - Management acknowledged economic uncertainties but emphasized the resilience of their business model [16][61] Other Important Information - The company repurchased 100,000 shares for approximately $4.6 million during the first quarter, indicating confidence in the stock's valuation [16][22] - The net total leverage ratio as of March 31, 2025, was 3.1 times, with total available liquidity of approximately $764 million [15][22] Q&A Session Summary Question: How does the company plan to bridge the first quarter loss to achieve record EBITDA? - Management highlighted strong April performance with attendance up over 8% and emphasized upcoming new rides and attractions as key drivers for growth [30][34] Question: What was the impact of Easter on April's performance? - Management noted that April's attendance benefited from the Easter shift and additional attendance beyond that, indicating a positive trend [41] Question: How is the company addressing international sales and group bookings? - Management reported low single-digit growth in international ticket sales and positive trends in group bookings, indicating a strong outlook [52][54] Question: What are the expectations regarding weather impacts for the year? - Management anticipates more normalized weather patterns compared to the previous year, which experienced significant hurricane impacts [61][62] Question: How is the company managing labor and marketing costs in light of competition? - Management indicated effective management of labor costs despite market pressures and strategic redeployment of marketing expenses to maximize impact [81][84]

Financial Data and Key Metrics Changes - In Q1 2025, total revenue was $286.9 million, a decrease of $10.5 million or 3.5% compared to Q1 2024, primarily due to decreases in admissions per capita and attendance [18][21] - Attendance decreased by approximately 59,000 guests or 1.7% year-over-year, with the Easter shift impacting attendance by about 140,000 guests [19][21] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million compared to the prior year, influenced by revenue declines and timing-related expenses [21][22] - The net loss for Q1 2025 was $16.1 million, compared to a net loss of $11.2 million in Q1 2024 [21] Business Line Data and Key Metrics Changes - In-park per capita spending increased by 1.1%, marking growth for 19 of the last 20 quarters [6][21] - Total revenue per capita decreased by 1.8%, with admissions per capita down 4.2% due to a shift in peak visitation days [19][21] Market Data and Key Metrics Changes - April 2025 attendance was up 8.1% compared to April 2024, indicating a positive trend despite the Q1 challenges [6][21] - Year-to-date attendance through April showed approximately 1.3% growth on a fiscal basis [19] Company Strategy and Development Direction - The company is focused on significant investments in new rides, attractions, and events to enhance guest experience and drive revenue [6][10] - There are ongoing discussions regarding integrating branded hotels into parks and unlocking the value of owned real estate [11][12] - The company is pursuing sponsorship opportunities, expecting to generate over $20 million in high-margin revenue over time [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving new records in revenue and adjusted EBITDA for 2025, with 75% of historical attendance and revenue opportunities still ahead [7][17] - The company is optimistic about the impact of new attractions and events, as well as the potential increase in visitors due to competitive attractions in the area [35][66] Other Important Information - The balance sheet remains strong, with a net total leverage ratio of 3.1 times and approximately $764 million in total available liquidity [14][22] - The company repurchased 100,000 shares for approximately $4.6 million during the first quarter, indicating confidence in the stock's valuation [16][22] Q&A Session Summary Question: How does the company plan to bridge the Q1 EBITDA loss to expected record levels? - Management highlighted strong April performance, with attendance up over 8%, and emphasized upcoming new rides and attractions as key drivers for growth [31][33] Question: What was the impact of Easter on April attendance? - Management noted that April's attendance benefited from the Easter shift, with additional attendance beyond that expected from the holiday [43] Question: How are international sales performing? - International ticket sales are up low single digits year-over-year, with group bookings also running ahead of last year [50][53] Question: What are the expectations regarding labor costs due to competition from Epic? - Management acknowledged planned labor increases but stated they have effectively managed costs and matched labor needs to attendance forecasts [82][83] Question: What is the company's strategy regarding capital allocation and buybacks? - Management indicated a focus on maximizing shareholder returns and mentioned that they are comfortable with the current leverage ratio while considering future buybacks [87][89]

Core Insights - United Parks & Resorts Inc. reported strong financial results for Q1 2025 despite challenges from the timing of Easter and Spring Break holidays, which shifted to Q2 compared to the previous year [3][6] - In-park per capita spending reached a record level, increasing by 1.1% for the quarter, marking growth for 19 of the last 20 quarters [3][6] - The company anticipates significant revenue and Adjusted EBITDA growth for 2025, driven by new attractions and improved offerings across its parks [3][4] Financial Performance - Attendance for Q1 2025 was approximately 3.4 million guests, a decrease of 59,000 guests or 1.7% from Q1 2024 [6][7] - Total revenue was $286.9 million, down $10.5 million or 3.5% from the same quarter in 2024 [6][9] - The net loss for the quarter was $16.1 million, an increase of $4.9 million from Q1 2024 [6][9] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million or 14.8% from the prior year [6][9] Key Metrics - Total revenue per capita decreased by 1.8% to $84.62, while admission per capita fell by 4.2% to $46.04 [6][31] - In-park per capita spending increased to $38.58, reflecting a 1.1% rise [6][31] - The company repurchased approximately 100,000 shares for about $4.6 million during the quarter [10][6] Future Outlook - The company is optimistic about 2025 bookings for its Discovery Cove property, group bookings, and international ticket sales, all of which are ahead of 2024 [3][4] - Significant investments have been made in new rides and attractions, with a focus on enhancing guest experiences [3][4] - The company expects to achieve new records in revenue and Adjusted EBITDA in 2025, with 75% of historical attendance and revenue opportunities still ahead as of April 30, 2025 [3][4] New Attractions - New attractions include "Jewels of the Sea" at SeaWorld San Diego and "Expedition Odyssey" at SeaWorld Orlando, among others [4][12] - The company continues to enhance its offerings with family-friendly attractions and themed events across its parks [4][12] Animal Rescue Efforts - In Q1 2025, the company aided 205 animals in need, contributing to a total of over 42,000 animals helped throughout its history [11][12] - The company is recognized as a leader in animal rescue, working closely with various agencies to provide urgent care to wildlife [12][22]

Core Concept - SeaWorld Orlando is set to open Expedition Odyssey, an innovative Arctic-themed attraction on May 1, 2025, which combines advanced ride technology with real-world footage and wildlife encounters to create an immersive experience [1][8]. Attraction Features - Expedition Odyssey features a next-generation ride system that offers a wide range of motion, enhancing the realism of the experience as guests navigate through glaciers, tundra, and the Arctic Ocean [2][3]. - The attraction includes custom-shot video footage from remote Arctic locations, providing authenticity and showcasing iconic Arctic wildlife such as polar bears, orcas, and walruses [3]. Family-Friendly Experience - Designed for adventurers of all ages, Expedition Odyssey has a height requirement of only 39 inches, allowing both children and adults to enjoy the experience together [4]. - The attraction is fully indoors, ensuring a year-round experience regardless of weather conditions [4]. Animal Encounters - After the ride, guests can engage in face-to-face encounters with real Arctic animals, including beluga whales and seals, enhancing the educational aspect of the attraction [5][6]. - Uki, a rescued Pacific walrus calf, will be introduced in her new habitat, providing a unique connection for guests [6]. Exclusive Experiences - SeaWorld offers behind-the-scenes experiences, such as the Beluga Whales Up-Close Tour, allowing guests to learn about marine mammals and their conservation [7]. Annual Pass Benefits - An Annual Pass provides unlimited visits, early access to Expedition Odyssey, free parking, and discounts on food and merchandise [9][10]. Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation, welcoming millions of guests annually [11]. - The company has a strong commitment to marine life conservation, having rescued over 41,000 animals and contributed more than $20 million to research initiatives [11].

Core Concept - SeaWorld Orlando has announced the launch of "Expedition Odyssey," a groundbreaking Arctic-themed attraction set to open in Spring 2025, combining advanced ride technology with immersive real-world footage and wildlife encounters [1][2][11]. Attraction Features - "Expedition Odyssey" is described as a first-of-its-kind adventure that merges dynamic motion, state-of-the-art visuals, and real animal interactions, providing an exhilarating journey through the Arctic environment [2][3]. - The attraction features a revolutionary ride system that allows for a wide range of motion, enabling guests to experience the fluidity of ocean currents while navigating through the Arctic [3][4]. - Guests will encounter real wildlife, including beluga whales and polar bears, through stunning live-shot video footage captured in remote Arctic locations, enhancing the immersive experience [5][6]. Guest Experience - The ride includes seamless transitions to real-world encounters with live Arctic animals, offering guests opportunities to learn about marine life and conservation [7][8]. - Designed to be family-friendly, the attraction has a height requirement of just 39 inches, making it accessible for both children and adults [9]. Company Commitment - SeaWorld emphasizes its commitment to innovation and conservation through this new attraction, aiming to create memorable experiences that resonate with guests [11]. - The company has a long-standing history of marine life conservation, having rescued over 41,000 animals and contributed more than $20 million to conservation efforts globally [13].