Active Runners Buzz:SeaWorld Entertainment Inc (NYSE:SEAS)

On Tuesday, Shares of SeaWorld Entertainment Inc (NYSE:SEAS), subtract -0.30% and closed at $16.66 in the last trading session. The last trading range of the stock ranges between $16.60 and $16.94. The company’s Market capitalization is $1.46 Billion with the total Outstanding Shares of 88.97 million. During the 52-week trading session the minimum price at which share price traded, registered at $11.77 and reached to max level of $21.84. The EPS of company is strolling at -0.16. SeaWorld Entertainment, Inc. (SEAS), a leading theme park and entertainment company that owns and operates twelve theme parks, recently stated its financial results for the third quarter ended September 30, 2016.

Overview

Total revenues were $485.3 million, as contrast to $496.9 million in the third quarter of 2015. Net income was $65.7 million, or $0.77 per diluted share, as contrast to net income of $98.0 million, or $1.14 per diluted share, in the third quarter of 2015.

Third quarter total attendance was relatively flat. Attendance at the company’s Florida park locations raised 1.3% in the third quarter, reflecting a positive impact from its capital investments in new attractions, which more than offset a decline in attendance from Latin America, an overall softness in the Orlando market and the impact of Hurricane Hermine. Absent the Latin America impact, attendance in Florida would have raised 4.0% in the third quarter.

Attendance trends in California and Texas continued to show improvement for the first nine months of 2016 over the same nine-month period in 2015.

Following a fundamental review of the company’s cost structure, the company is executing a comprehensive cost optimization program that is expected to reduce costs by about $65 million, with a targeted $40 million in net savings by the end of 2018.

2016 Adjusted EBITDA[1] guidance range narrowed to $310 million to $330 million.

As formerly declared, the company declared a cash dividend of $0.10 per share to all common stockholders of record at the close of business on September 29, 2016 and suspended future quarterly dividends to allow greater flexibility to deploy capital to the opportunities that offer the greatest long term returns to shareholders.

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