Company name:
SeaWorld Entertainment Inc
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IPO SHARE PRICE:$27.00
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IPO DATE:April 19, 2013
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TICKER:SEAS
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MAIN STOCK EXCHANGE:New York Stock Exchange
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CURRENT HQ LOCATION:6240 Sea Harbor Drive Orlando Florida 32821
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
SeaWorld Entertainment Inc
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Income Statement
(USD in thousand)
Selected Quarter:
31-Dec
2020
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
100%
59.7% —
Admission revenue
40.3% —
Food merchandise and other
Selected Quarter:
31-Dec
2020
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
115.2%
68.2% —
Operating expenses
23.7% —
Depreciation and amortization
14.6% —
Selling general and administrative
8.5% —
Cost of food merchandise and other revenues
0.1% —
Severance and other separation costs
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Cost of food merchandise and other revenues
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17,213 | 32,006 | 37,843 | 21,891 | 13,104 | 1,153 | 9,298 | 13,157 | 36,712 | 52,628 | ||||||||||||||||
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Operating expenses
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149,885 | 170,398 | 175,634 | 153,740 | 132,999 | 59,049 | 91,337 | 105,088 | 388,473 | 420,352 | ||||||||||||||||
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Selling general and administrative
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42,764 | 67,205 | 64,632 | 87,100 | 26,954 | 21,104 | 24,335 | 22,492 | 94,885 | 89,968 | ||||||||||||||||
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Depreciation and amortization
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39,450 | 40,053 | 40,822 | 40,232 | 38,013 | 37,941 | 38,052 | 36,540 | 150,546 | 146,160 | ||||||||||||||||
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Goodwill impairment
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- | - | - | - | - | - | - | - | - | - | ||||||||||||||||
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Severance and other separation costs
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2,566 | 66 | 1,207 | 337 | 65 | 9 | 2,581 | 171 | 2,826 | 684 | ||||||||||||||||
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Restructuring and other related costs
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- | - | - | - | - | - | - | - | - | - | ||||||||||||||||
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Restructuring and other separation costs
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2,566 | 66 | 1,207 | - | - | - | - | - | - | - | ||||||||||||||||
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Total expenses
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251,878 | 309,728 | 320,138 | 303,300 | 211,135 | 119,256 | 165,603 | 177,448 | 673,442 | 709,792 |
Selected Quarter:
31-Dec
2020
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
15.2%
15.2% —
Operating Income
Key metric that shows earnings potential of the company's business model
Selected Quarter:
31-Dec
2020
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
Selected Quarter:
31-Dec
2020
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
15.2%
15.2% —
EBIT
Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Quarter:
31-Dec
2020
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
14.2%
6.4% —
Income tax expense or benefit
20.6% —
Interest expense
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Interest expense
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20,797 | 21,803 | 21,463 | 20,115 | 19,153 | 21,908 | 28,145 | 31,701 | 100,907 | 126,804 | ||||||||||||||||
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Income before income taxes
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(52,127) | 74,540 | 132,151 | (25,560) | (76,715) | (123,137) | (87,629) | (55,365) | (342,846) | (221,460) | ||||||||||||||||
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Income tax expense or benefit TEST - ODD
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(15,107) | 21,889 | 34,123 | (1,377) | (20,196) | 7,892 | (8,392) | (9,829) | (30,525) | (39,316) |
Selected Quarter:
31-Dec
2020
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
29.6%
29.6% —
Net income (loss)
It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
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Net income (loss)
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($37,020) | $52,651 | $98,028 | ($24,183) | ($56,519) | ($131,029) | ($79,237) | ($45,536) | ($312,321) | ($182,144) | ||||||||||||||||
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Unrealized gain (loss) on derivatives
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(2,064) | (2,866) | 374 | 713 | 704 | 855 | - | - | 1,559 | - | ||||||||||||||||
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Comprehensive income (loss)
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(39,084) | 49,785 | 98,402 | (23,470) | (55,815) | (130,174) | (79,237) | (45,536) | (310,762) | (182,144) |
Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Selected Quarter:
31-Dec
2020
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)
Selected Quarter:
31-Dec
2020
2020
Dividends
Dividend is fraction of Earnings that is paid out in cash form to investor now; It's important to watch out that dividends don't exceed EPS on continuous basis as it is a sign that management is manipulating investor's perception of value of the company