SeaWorld Posts Bigger-than-expected Quarter Loss As Revenue Falls Short

SeaWorld Entertainment Inc. said Tuesday it had a net loss of $11.9 million, or 14 cents a share, in the fourth quarter, after a loss of $11.0 million, or 13 cents a share, in the year-earlier period. The operator of 12 theme parks said revenue edged down to $267.6 million from $267.9 million a year ago. The FactSet consensus was for a loss of 10 cents a share and revenue of $269 million. Total attendance fell by about 30,000 guests, or 0.7%, due to the impact of Hurricane Matthew in October and an expected decline in Latin America. That was mostly offset by improved attendance at the company's Texas and California locations. The company said it expects to generate $40 million in savings from a program initiated in the quarter. Shares were not yet active in premarket trade, but have gained 5.6% in the last 12 months, while the S&P 500 has gained about 22%.