SeaWorld Profit Swells in 2012

[Shane]

SeaWorld Entertainment Inc. reported net income of $77.4 million for 2012, a 305 percent increase from net income of $19.1 million in 2011.

SeaWorld disclosed its 2012 total profit in an amendment to its initial public offering, filed with the U.S. Securities and Exchange Commission. Previously, the company had only disclosed financial information for the first nine months of 2012.

Revenue for the full year of 2012 was $1.4 billion, a 7 percent increase from revenue of $1.3 billion in 2011. Gains in revenue from admissions, food and merchandise outpaced increases in expenses, the filing said.

SeaWorld, headquartered in Orlando and the parent company of Busch Gardens Tampa and Adventure Island, filed for an IPO in December. It has not yet disclosed how much money it plans to raise, how many shares it plans to sell or the price at which it will sell shares.

In its amended filing, dated March 25, SeaWorld added seven underwriters to the original six underwriters working on the IPO. Newly added were Blackstone Advisor Partners, Lazard Capital Markets, Macquarie Capital, KeyBanc Capital Markets, Nomura Securities, Drexel Hamilton & Associates, and Samuel A. Ramirez & Co., in addition to original underwriters Goldman Sachs, JPMorgan Securities, Citigroup Global Markets, BofA Merrill Lynch, Barclays Capital and Wells Fargo Securities.

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[pandorazboxx]

That's good, hopefully that will translate into more rides and shows, better wages for employees, and a better overall experience at the parks.

 

[Unagi]

I bet the Brazilian tourists in Orlando have a lot to do with that so SeaWorld P&E needs to send a big "Obrigado" to that country!

Here's an article talking about their influx to Florida: http://www.cnn.com/2012/01/24/travel/brazilian-tourist-invasion

On my recent visit in early January, the parks were filled with nothing but Brazilians. I had never witnessed such a busy an off-season in Orlando and Tampa. I heard more Brazilian Portuguese spoken than English or Spanish. Even at BGT all the park maps printed in Portuguese were wiped out by early afternoon.

 

[James]

As long as there are teenagers in the world wanting a job, wages will never go up.

 

[Party Rocker]

As long as there are teenagers in the world wanting a job, wages will never go up.

Aha! They have been going up, slowly but surely! Remember, slow and steady wins!

I honestly don't see anything major new coming out of that profit right away. I think they are probably work on small things and then save the rest. They tend to be conservative from time to time.

 

[Haberdasher1973]

I bet the Brazilian tourists in Orlando have a lot to do with that so SeaWorld P&E needs to send a big "Obrigado" to that country!

Here's an article talking about their influx to Florida: http://www.cnn.com/2012/01/24/travel/brazilian-tourist-invasion

On my recent visit in early January, the parks were filled with nothing but Brazilians. I had never witnessed such a busy an off-season in Orlando and Tampa. I heard more Brazilian Portuguese spoken than English or Spanish. Even at BGT all the park maps printed in Portuguese were wiped out by early afternoon.

The Orlando parks are like that every January/February: wall-to-wall Brazilians... In fact, Universal hired a huge group of seasonals from Brazil in late December.

SW San Antonio has been doing HUGE numbers and Orlando has been doing well, too.

 

[I305Evan]

I wonder how much of an increase there will be this year with the raised food and drink prices -_-

 

[Unagi]

The Orlando parks are like that every January/February: wall-to-wall Brazilians... In fact, Universal hired a huge group of seasonals from Brazil in late December.

SW San Antonio has been doing HUGE numbers and Orlando has been doing well, too.

It's a recent occurrence. I've visited the Orlando Parks around that time in 2004, 2006, 2007 and 2008 and have never seen as many as I did on my recent visit. As a matter of fact, the parks were pretty dead when I went those times.

Now they visit in droves year-round. My friend in São Paulo told me he sees many offers for flights to Florida that are actually cheaper than flying within Brazil. Their economy is doing well right now and Florida seems to be the #1 destination for them.

 

[Parkgoer]

The Orlando parks are like that every January/February: wall-to-wall Brazilians... In fact, Universal hired a huge group of seasonals from Brazil in late December.

SW San Antonio has been doing HUGE numbers and Orlando has been doing well, too.

It's a recent occurrence. I've visited the Orlando Parks around that time in 2004, 2006, 2007 and 2008 and have never seen as many as I did on my recent visit. As a matter of fact, the parks were pretty dead when I went those times.

Now they visit in droves year-round. My friend in São Paulo told me he sees many offers for flights to Florida that are actually cheaper than flying within Brazil. Their economy is doing well right now and Florida seems to be the #1 destination for them.

Uprise in ads and offers catered to that market has increased substantially. Hence why WDW is significantly down in European visitors and WAY WAY up in Latin American guests. Most of the latter do not demand much quality... but then again the locals tore of DLP pretty good too.