SeaWorld Entertainment, Inc. (NYSE: SEAS), a theme park and entertainment company, announced its financial results for the fourth quarter of 2017. Shares of the company increased around 2% before the opening bell Tuesday.
According to the company, revenue for the fourth quarter was $265.5 million, beating analysts’ estimates of $260.1 million. In addition, the company reported a loss of $0.24 per share, which is worse than the loss of $0.18 per share estimated by analysts.
For full year 2017, total revenues were $1.26 billion, net loss was reported to be $202.4 million, including a non-cash goodwill impairment charge of $215.1 million. Adjusted EBITDA for 2017 was $300.8 million, according to the company.
“We are encouraged by the improvements we saw in the business in the fourth quarter,” John Reilly, the Interim Chief Executive Officer of SeaWorld Entertainment, said in the statement on Tuesday.
“Looking ahead to 2018 we are excited to see positive trends. Year-to-date attendance and season pass sales to date have increased year-over-year, led by our SeaWorld San Diego park which is rebounding from a difficult 2017,” said Reilly. “With our highly compelling product lineup, updated pricing strategies and aggressive marketing and advertising plans, we are confident that we are well-positioned to deliver strong financial performance in 2018.”