Earnings release
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SEAWORLD ENTERTAINMENT . NEWS RELEASE SeaWorld Entertainment , Inc. Reports First Quarter 2021 Results 5/6/2021 ORLANDO , Fla . , May 6 , 2021 / PRNewswire / -- SeaWorld Entertainment , Inc. ( NYSE : SEAS ) , a leading theme park and entertainment company , today reported its financial results for the first quarter of 2021. [ 1 ] First Quarter 2021 Highlights • Attendance was 2.2 million guests , a decline of 0.1 million guests , or 4.5 % , from the first quarter of 2020 . Compared to the first quarter of 2019 , attendance declined by 1.1 million guests or 33.7 % . • Total revenue was $ 171.9 million , an increase of $ 18.4 million , or 12.0 % from the first quarter of 2020 . Compared to the first quarter of 2019 , total revenue declined by $ 48.7 million or 22.1 % . • Net loss was $ 44.9 million , an improvement of $ 11.6 million or 20.6 % from the first quarter of 2020 . Compared to the first quarter of 2019 , net loss increased by $ 7.9 million or 21.2 % . • Adjusted EBITDA [ 2 ] was $ 25.2 million , an increase of $ 56.0 million from the first quarter of 2020. Compared to the first quarter of 2019 , Adjusted EBITDA increased by $ 8.8 million or 53.4 % . • Total revenue per capita increased 17.2 % to $ 77.63 from the first quarter of 2020. Admission per capita increased 10.8 % to $ 43.25 while in - park per capita spending increased 26.4 % to $ 34.38 from the first quarter of 2020. Compared to the first quarter of 2019 , total revenue per capita increased 17.6 % , admission per capita increased 12.0 % , while in - park per capita spending increased 25.3 % . Other • As of March 31 , 2021 , the Company had approximately $ 431 million of cash and cash equivalents on its balance sheet and approximately $ 312 million available on its revolving credit facility resulting in total liquidity of approximately $ 743 million . • The Company estimates that its average monthly Adjusted Net Cash Flow [ 2 ] during the quarter was approximately $ 5.1 million of net positive cash flows , which excludes certain payments to vendors due in and deferred from previous quarters . The Company estimates that the average monthly Net Cash Burn [ 2 ] during the quarter was approximately $ 1.1 million when including these deferred payments . • As of March 31 , 2021 , 10 of the Company's 12 parks were open ( which is consistent with the same period in 2019 ) . Parks continue to operate with capacity limitations and modified / limited operations due to the COVID- 19 pandemic . • As previously stated , the Company expects to operate all 12 of its parks for their 2021 operating season . Park opening dates are subject to change based on federal , state , and local guidelines related to COVID - 19 . • In the first quarter of 2021 , the Company helped rescue over 530 animals bringing total rescues over its 1