News Quarterly Financial Results

[thopping]

And anyway.... so regardless of one's views on the actual ticket prices, point germane to this thread is that SEAS has been focusing on the long-term health of the business and is structuring pricing models and new attraction plans in support of that. They have positive data points over the last year to include Q4 results that they view as validating their strategy, and the analyst community seemed happy with the progress on the earnings call.

So bottom line is a park needs to be financially healthy to remain in operation, and demonstrate a return to investors for new attraction investments. SEAS seems to be doing that, which is not only good for those who are fans of their properties, but also because a theme over the past few years (BGW boards) has been concern about whether SEAS was healthy enough to make such investments. It appears they are.

 

[Ultrasuede]

I remember the days of moderate viewpoints. Now it is either one extreme or another. Capitalism/Economics (or something...) only works well when people realize that wanting more for themselves...means they will have to end up paying more for it (since those other people want more as well)

 

[warfelg]

I don't see that as gouging... try riding everything except the wooden coasters and the haunted house at any other reasonably full-featured park for just $30, and see what they say...!

And it's just $38 to ride whatever you want, including all coasters and the haunted mansion, as many times as you like. That's actually a very reasonable price for what you get IMO. There are plenty of rides at Knoebels, and you can ride all day long -- after parking for zero dollars and gaining entry to the park for an additional zero dollars. Their older day pass prices were super low, but that doesn't mean they're gouging now.

When I went to the park last fall, I personally didn't care what the prices were five years ago, or seventeen years ago...

I should have said based on percentage increases Knoebles has made over that same time span as BGW. But yea still super affordable.

 

[Thomas]

Knoebels also doesn't charge for parking and has no taxes on food... it's easily one of the most affordable places to go in the Amusement Industry.

 

[b.mac]

Knoebels also doesn't charge for parking and has no taxes on food... it's easily one of the most affordable places to go in the Amusement Industry.

The free parking is absorbed through the ticket purchases because they lease the parking lot from a neighbor, which is why the daily handstamps went up in pricing over the past couple of years.

 

[Zimmy]

You know Zachary.... for an administrator of this forum you seem to think you walk on water.

Given Zachary's penchant for finding himself in situations that could cause his demise, I think this is unlikely. Just my opinion, so take that for what it is worth. Also I can't say that he does not think he walks on water because, at least in theory you can not prove a negative.

Don't worry! I have my membership for BGW this year. Maybe I'll finally get to meet you.

I am certain that is a huge relief to him because:

1. everyone knows he is nothing but a paid shill for Big Seaworld Entertainment!
2. Certainly meeting you is very high on his list of priorities for this season! I mean why would he not want to meet someone as polite, calm, factual, and pleasant as you?

But then, I'd probably get kicked out of the park!

That seems unlikely, as we have already established he is clearly being paid by BGW to say nothing but good things. Sure he has said the occasional wrong think thing, but that is just part of the plan! How else could he suck innocent people into his web of lies?!

No, your're you're (fixed that for you!) not worth the effort! You just continue with your dribble. Loser!! You can have your forum. Obviously opposing views have no place in your world!

What can I say, this is clearly all true. Gods know he has never back up any of his claims with hard data! Besides who else would want this swamp of lies and deceit?
DRAIN THE SWAMP!
DRAIN THE SWAMP!

Now, since they are reporting last years results and that was the first year of the membership program my comments are based on the admission changes they made last year when these results were being established.

I'm really glad you clarified that, because now the math makes perfect sense!

That's just my 2 cents worth Zachary! Yeah, I didn't round up like I did in my original post. pretty much I think you are worth maybe 2 cents but who knows.

Oh come on now, that was worth at least 5 cents!

LOCK HIM UP!
LOCK HIM UP!

 

[Zachary]

Anyway, SEAS' 2018 numbers look great to me–particularly in light of Cedar Fair and Six Flags results from last year. We shouldn't lose sight of that detail–Cedar Fair and Six Flags experienced something akin to stagnation last year despite aggressive attraction addition strategies while SEAS had a remarkably strong 2018.

 

[Nicole]

You know Zachary.... for an administrator of this forum you seem to think you walk on water.

Don't worry! I have my membership for BGW this year. Maybe I'll finally get to meet you. But then, I'd probably get kicked out of the park! No, your're not worth the effort! You just continue with your dribble. Loser!! You can have your forum. Obviously opposing views have no place in your world!

Now, since they are reporting last years results and that was the first year of the membership program my comments are based on the admission changes they made last year when these results were being established.

That's just my 2 cents worth Zachary! Yeah, I didn't round up like I did in my original post. pretty much I think you are worth maybe 2 cents but who knows.

Since you don’t seem to be aware, personal attacks violate our Rules.

 

[..…]

You know Zachary.... for an administrator of this forum you seem to think you walk on water.

Just throwing this out there...maybe he does walk on water? Just because no one has SEEN him do it doesn't necessarily mean he can't. In fact, I think I'll start considering ParkFans my church, all its members my brothers and sisters, and @Zachary the messiah. You're my brother now too, @Rothbury - as the chosen ones, we're all forgiven! Zachary will save us all! Can I get an amen and a hallelujah?

 

[Nicole]

Since you don’t seem to be aware, personal attacks violate our Rules.

Edit: I just counted and I believe there are actually enough personal attacks in this one post to ban @Rothbury. Just an observation.

 

[Zimmy]

Just throwing this out there...maybe he does walk on water? Just because no one has SEEN him do it doesn't necessarily mean he can't. In fact, I think I'll start considering ParkFans my church, all its members my brothers and sisters, and @Zachary the messiah. You're my brother now too, @Rothbury - as the chosen ones, we're all forgiven! Zachary will save us all! Can I get an amen and a hallelujah?

You know that just went straight to your messiah's head...

But back to can't prove a negative... If you maintain that he DOES walk on water, how can we say that he doesn't. It is the old teapot in orbit question. Unless we can't observe Zachary 24/7 and maybe he only walks on water in private. Maybe you can only know Zachary's speed or his direction so if we see him walk on water the waveform collapses and now he has no momentum and drowns...

Zachary walking on water as causality.

 

[Nicole]

So. Quarterly financials.

 

[belsaas]

So. Quarterly financials.

It's crazy they do financials in Quarters! That seems heavy. But I guess they probably get a lot from the pressed penny machines...

 

[GrandpaD]

Filed with the SEC, items include Zhonghong, new leadership, Walter Bogumil, and much more.

The annual meeting is June, 2019. First quarter financials will be May 7, 2019.

 

[Jahrules]

Some interesting stuff there. That does partially explain the potential sale article.

 

[Jahrules]

Conference call is 9:00 AM EST tomorrow (7-May).

Analysts forecasting an EPS of -$0.62 / share on revenue of $215.91m. [Source]

I'll be listening to the conference call and will post any relevant news mentioned in the meeting here.

Not likely to get too much info out of this relating to construction/new rides; but it's possible. Much more likely to get some interesting info out of the annual meeting next month.

 

[Jahrules]

Seas smashed it.

EPS of -0.44 on revenue of $220.6m

Far exceeded analyst predictions [Source]

I think the takeaway pre-call is that these results are strengthening the management belief in the strategic directions of the parks which includes the capital investments in new attractions.

 

[Alf33]

It's good to see that things overall seem to still be improving. But the one item that still bugs me is they are still carrying a lot of debt on the books. SEAS long term debt is $1.584B which is actually up by like $31m over the 4th quarter number. It would be nice to see this come down, which hopefully it will as time goes on once all the investments company wide are done.

 

[Jahrules]

Having digested the results more, I have some additional thoughts.

Analysts expected a loss of 0.62/share which would have been (52.2m). Actual loss of 0.44/share is a loss of (37m). A beat of estimates by 15m.

Nearly 5m came from higher than expected revenues (220.6 vs 215.93). The other 10m would then have been gained through cost cutting measures including the staff reductions. This is further highlighted where the report also mentions 2.6m was spent in compensation packages (severences).

We know in the last month, they've been cutting additional staff. Those figures would not be completely factored into this quarter's report as they've been paid for the majority of this past quarter.

In response to the above poster. This is to be expected as the company is still operating at a net loss. But with improvements like this, they are well on their way back to profitability.

 

[Jahrules]

One of the zonghong board members has resigned due to zonghong defaulting on debt and being taken over by shareholders. The other zonghong board member was asked to stay on based on his own merits.