SeaWorld Entertainment’s revenue and attendance declined in 2016 compared with the previous year, according to estimates the company released Tuesday morning.
Orlando-based SeaWorld will provide a complete earnings report to investors next week. The company reported the 2016 estimates early, it said, “in connection with a potential debt-financing transaction.”
The company expects revenues of $1.344 billion, down from $1.37 billion the previous year. The company’s theme and water parks drew about 22 million visitors last year. The previous year, they brought in 22.47 million people.
The stock closed at $19.31 Tuesday afternoon, up 0.49 percent.
In the summer, SeaWorld had said its attendance suffered because of an overall drop in Orlando tourism, especially in Brazilian visitors.
SeaWorld said Tuesday it expects to exceed the high end of the adjusted guidance provided in November. The company said then it expected earnings before interest, taxes, depreciation and amortization to be in the range of $310 million to $330 million.
“We are also exploring a possible debt-refinancing transaction in order to improve our capital structure by extending maturities and improving certain other terms of our debt,” Chief Executive Officer Joel Manby said in a news release.
SeaWorld will report complete earnings for the fourth quarter and full year the morning of Feb. 28. Executives will discuss them with analysts in a 9 a.m. conference call.
In the third quarter, SeaWorld’s year-over-year revenue dropped 2 percent to $485.3 million. Earnings per share declined to 77 cents from $1.14 the previous year.
spedicini@orlandosentinel.com or 407-420-5240; Twitter @SandraPedicini
