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SeaWorld Q2 net income beats estimates with 132% YOY rise

SeaWorld Entertainment Inc. on Aug. 6 reported better-than-expected results for the second quarter of 2019.

For the three months to June 30, the theme park operator said net income jumped 132% to $52.7 million from $22.7 million in the year-ago period, driven by revenue growth and the company's cost-efficiency initiatives.

Diluted EPS surged 146.2% to 64 cents, compared with 26 cents in the second quarter of 2018, beating the S&P Global Market Intelligence consensus normalized EPS estimate of 55 cents.

Total revenue grew 3.6% year over year to $406 million from $391.9 million, while attendance rose 0.8% to 6.5 million guests. SeaWorld attributed the increased attendance to the later timing of Easter and spring break in 2019 and its improved pricing, marketing and communication strategies.

Adjusted EBITDA amounted to $149.7 million, up 22.7% from $122 million in the year-ago period.