Earnings release
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SEAWORLD ENTERTAINMENT . NEWS RELEASE SeaWorld Entertainment , Inc. Reports Third Quarter and First Nine Months 2021 Results 11/9/2021 ORLANDO , Fla . , Nov. 9 , 2021 / PRNewswire / -- SeaWorld Entertainment , Inc. ( NYSE : SEAS ) , a leading theme park and entertainment company , today reported its financial results for the third quarter and first nine months of fiscal year 2021. [ 1 ] Third Quarter 2021 Highlights • Attendance was 7.2 million guests , an increase of 5.7 million guests from the third quarter of 2020. Compared to the third quarter of 2019 , attendance declined by 0.9 million guests or 11.0 % . • Total revenue was $ 521.2 million , an increase of $ 415.1 million from the third quarter of 2020. Compared to the third quarter of 2019 , total revenue increased by $ 47.5 million or 10.0 % . • Net income was $ 102.1 million , the second highest third quarter net income for the Company , an increase of $ 181.3 million from the third quarter of 2020. Compared to the third quarter of 2019 , net income increased by $ 4.1 million or 4.2 % . • Adjusted EBITDA [ 2 ] was a record $ 265.3 million an increase of $ 276.5 million from the third quarter of 2020 . Compared to the third quarter of 2019 , Adjusted EBITDA increased by $ 58.4 million or 28.2 % . • Total revenue per capita increased 6.2 % to $ 72.13 from the third quarter of 2020. Admission per capita increased 1.7 % to $ 41.06 while in - park per capita spending increased 12.8 % to $ 31.07 from the third quarter of 2020. Compared to the third quarter of 2019 , total revenue per capita increased 23.7 % , admission per capita increased 24.4 % , and in - park per capita spending increased 22.8 % . First Nine Months 2021 Highlights • Attendance was 15.2 million guests , an increase of 11.1 million guests from the first nine months of 2020 . Compared to the first nine months of 2019 , attendance declined by 2.7 million guests or 14.9 % . • Total revenue was $ 1,132.9 million , an increase of $ 855.2 million from the first nine months of 2020 . Compared to the first nine months of 2019 , total revenue increased by $ 32.7 million or 3.0 % . • Net income was a record $ 185.0 million , an increase of $ 451.8 million from the first nine months of 2020 . Compared to the first nine months of 2019 , net income increased by $ 71.3 million or 62.7 % . • Adjusted EBITDA was a record $ 509.3 million , an increase of $ 605.2 million from the first nine months of 2020. Compared to the first nine months of 2019 , Adjusted EBITDA increased by $ 136.3 million or 36.5 % . • Total revenue per capita increased 11.1 % to $ 74.29 from the first nine months of 2020. Admission per capita increased 6.0 % to $ 41.69 while in - park per capita spending increased 18.5 % to $ 32.61 from the first nine months of 2020. Compared to the first nine months of 2019 , total revenue per capita increased 21.0 % , admission per capita increased 19.6 % , and in - park per capita spending increased 23.0 % . Other Highlights • As of September 30 , 2021 , the Company's total available liquidity was $ 918.1 million , including $ 553.6 million of cash and cash equivalents on its balance sheet and $ 364.5 million available on its revolving credit facility . • Cash flow from operations was $ 168.4 million and $ 416.4 million for the three and nine months ended September 30 , 2021 , respectively . Free Cash Flow [ 2 ] was $ 139.7 million and $ 342.8 million for the three and nine months ended September 30 , 2021 , respectively .