$PRKS

SeaWorld Entertainment, Inc.

CIK:0001564902|SEC Filings

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net revenues:
Total revenues	$ 483,320	$ 490,212	$ 761,614	$ 777,161
Costs and expenses:
Cost of food, merchandise and other revenues	38,065	37,173	59,712	60,132
Operating expenses (exclusive of depreciation and amortization shown separately below)	215,723	204,789	386,965	366,059
Selling, general and administrative expenses	66,591	64,402	114,659	108,539
Severance and other separation costs	45	408	808	408
Depreciation and amortization	45,786	42,974	90,853	84,669
Total costs and expenses	366,210	349,746	652,997	619,807
Operating income	117,110	140,466	108,617	157,354
Other expense (income), net	17	216	(217)	193
Interest expense	32,394	33,951	64,129	68,058
Income before income taxes	84,699	106,299	44,705	89,103
Provision for income taxes	21,430	26,191	15,504	25,128
Net income	$ 63,269	$ 80,108	$ 29,201	$ 63,975
Earnings per share:
Earnings per share, basic	$ 1.36	$ 1.46	$ 0.61	$ 1.16
Earnings per share, diluted	$ 1.34	$ 1.45	$ 0.6	$ 1.15
Weighted average common shares outstanding:
Basic	46,674	54,991	48,040	55,005
Diluted	47,168	55,411	48,525	55,436
Admissions [Member]
Net revenues:
Total revenues	$ 244,081	$ 255,740	$ 391,584	$ 411,855
Food, Merchandise and Other [Member]
Net revenues:
Total revenues	$ 239,239	$ 234,472	$ 370,030	$ 365,306

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net income	$ 29,201	$ 63,975
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	90,853	84,669
Amortization of debt issuance costs and discounts	2,152	2,217
Deferred income tax provision	12,339	19,396
Equity-based compensation	10,167	8,096
Other, including loss on sale or disposal of assets, net	13,245	12,994
Changes in assets and liabilities:
Accounts receivable	(24,443)	(17,875)
Inventories	(7,183)	(7,689)
Prepaid expenses and other current assets	(9,624)	(23,978)
Accounts payable and accrued expenses	30,714	6,398
Accrued salaries, wages and benefits	1,201	1,582
Deferred revenue	75,264	58,019
Other accrued liabilities	10,305	1,576
Right of use assets and operating lease liabilities	473	209
Other assets and liabilities	2,138	(2,678)
Net cash provided by operating activities	236,802	206,911
Investing Activities:
Capital expenditures	(138,183)	(110,464)
Net cash used in investing activities	(138,183)	(110,464)
Financing Activities:
Repayments of long-term debt	(7,712)	(7,711)
Proceeds from draws on revolving credit facility	150,000	0
Repayments of revolving credit facility	(100,000)	0
Purchase of treasury stock	(220,280)	(9,195)
Payment of tax withholdings on equity-based compensation through shares withheld	(1,113)	(1,178)
Exercise of stock options	297	395
Other financing activities	(497)	(730)
Net cash used in financing activities	(179,305)	(18,419)
Change in Cash and Cash Equivalents	(80,686)	78,028
Cash and Cash Equivalents - Beginning of period	99,762	115,893
Cash and Cash Equivalents--End of period	19,076	193,921
Supplemental Disclosure of Noncash Investing and Financing Activities
Capital expenditures in accounts payable	50,040	44,431
Excise tax accrued on treasury stock repurchases	2,111	0
Right of use assets obtained in exchange for new operating lease liabilities	15,783	0
Cash paid for income taxes, net	$ 4,227	$ 14,720

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 19,076	$ 99,762
Accounts receivable, net	100,326	77,287
Inventories	58,930	51,628
Prepaid expenses and other current assets	65,396	54,117
Total current assets	243,728	282,794
Property and equipment, at cost	4,265,233	4,136,832
Accumulated depreciation	(2,296,684)	(2,219,562)
Property and equipment, net	1,968,549	1,917,270
Goodwill	66,278	66,278
Trade names/trademarks, net	157,846	157,846
Right of use assets-operating leases	138,883	125,410
Deferred tax assets, net	5,673	2,478
Other assets, net	60,523	64,198
Total assets	2,641,480	2,616,274
Current liabilities:
Accounts payable and accrued expenses	194,568	152,939
Current maturities of long-term debt	15,423	15,423
Operating lease liabilities	3,254	4,216
Accrued salaries, wages and benefits	28,247	27,046
Deferred revenue	211,896	143,325
Other accrued liabilities	56,450	41,783
Total current liabilities	509,838	384,732
Long-term debt, net	2,262,148	2,217,708
Long-term operating lease liabilities	125,834	110,926
Deferred tax liabilities, net	274,026	258,492
Other liabilities	86,655	80,222
Total liabilities	3,258,501	3,052,080
Commitments and contingencies (Note 8)
Stockholders’ Deficit:
Preferred stock, $0.01 par value - authorized, 100,000,000 shares, no shares issued or outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.01 par value - authorized, 1,000,000,000 shares; 97,447,598 and 97,330,004 shares issued at June 30, 2026 and December 31, 2025, respectively	974	973
Additional paid-in capital	755,139	745,789
Retained earnings	835,150	805,949
Treasury stock, at cost (52,116,919 and 46,236,087 shares at June 30, 2026 and December 31, 2025)	(2,208,284)	(1,988,517)
Total stockholders’ deficit	(617,021)	(435,806)
Total liabilities and stockholders’ deficit	$ 2,641,480	$ 2,616,274