SeaWorld Posts Wider-than-expected Loss As Attendance Falls

SeaWorld Entertainment Inc. said Thursday it had a net loss of $25.4 million, or 29 cents a share, in the fourth quarter, wider than the loss of $13.0 million, or 14 cents a share, posted in the year-earlier period. Excluding restructuring costs, the company had a loss of 21 cents a share, compared with the FactSet consensus for a loss of 15 cents a share. Revenue came to $264.5 million, down from $272.0 million a year ago, but ahead of the FactSet consensus of $253 million. Attendance at the company's sea parks fell to 22.4 million in the quarter from 23.4 million a year ago. Total revenue per capita fell to $60.60 from $60.91. The company said its search for a new CEO is on track. "On the operational side, we are starting to see early signs of improvement in our business trends; however, the bulk of the year remains ahead of us," Interim Chief Executive David D'Alessandro said in a statement. Shares were not yet active in premarket trade, but have gained about 21% in the last three months, outperforming the S&P 500's 2% gain.

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