As it reported year-over-year drops in third-quarter revenue and profit Tuesday, SeaWorld Entertainment said it is aggressively cutting costs.
SeaWorld generated $485.3 million in revenue during the third quarter, compared with $496.9 million the previous year.
Net income was $65.7 million, or 77 cents per diluted share. That compares with net income of $98.0 million, or $1.14 per share, a year ago. The results missed analysts’ estimates.
Overall, attendance was relatively flat. Visitation at the company’s Florida park locations increased 1.3% in the third quarter. SeaWorld attributed that to new attractions.