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3rd Quarter 2016 Quarterly Report

11/13/16 at 12:07pm in 3rd Quarter 2016 Quarterly Report (Latest Edit: 11/13/16 at 12:08pm by Alf33.)
Post: #1
Here's some info from the quarterly report for the 3rd quarter of this year.

"During the three months ended September 30, 2016, we hosted approximately 8.3 million guests in our theme parks, including approximately 1.1 million international guests, and generated total revenues of $485.3 million and net income of $65.7 million.  During the nine months ended September 30, 2016, we hosted approximately 17.6 million guests in our theme parks, including approximately 2.3 million international guests, generated total revenues of $1.08 billion and generated a net loss of $0.6 million."

"Attendance in the third quarter of 2016 declined by 30,000 guests, or 0.4%, and was primarily impacted by adverse weather at our Northeast park locations along with a decline in international attendance, mainly from the Latin America market which decreased by approximately 93,000 guests, or 28%, compared to the third quarter of 2015.  The impact of these factors was largely offset by increased attendance in Texas, which mainly benefited from the new gate at its water park, and increased attendance in Florida during the third quarter (an increase of approximately 46,000 guests).  We believe this improvement in Florida results from new attractions which helped drive domestic attendance despite a decline in international guests, an overall decline in hotel occupancy in the Orlando market and the effects of Hurricane Hermine at our Florida park locations."

"Looking ahead to the fourth quarter and 2017, we have introduced strategic season pass promotions and other ticket offers, expanded on our special events and announced an extensive 2017 new line-up of attractions, shows and events. We expect to invest approximately $175.0 million in capital spending on new attractions for 2017, one of the largest new attraction years in our more than 50 year history.  Based on early indicators, season pass sales appear to be strong as a result of the initiatives in place. However, we remain cautious as fourth quarter attendance was impacted early on by Hurricane Matthew in October which forced the closure of our parks in both Orlando and Williamsburg."
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