SeaWorld’s Second-Quarter Earnings Preview Forecasts a 95% Year-Over-Year Revenue Drop
After long closures of its marine mammal parks with their widely noted orca and dolphin shows, SeaWorld Parks & Entertainment (NYSE: SEAS) published an update on its operations today, which included preliminary results for the second quarter of 2020. Closures caused by COVID-19 caused a plunge in quarterly total revenue, which dropped from $406 million to $18 million year over year, a decrease of almost 95.6%.
Net loss is estimated to be in the neighborhood of $105 million. The company also reports it had approximately $376 million in cash on hand at the end of June.
Image source: Getty Images.
Source Fool.com
