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Why SeaWorld Entertainment (SEAS) Is Higher on Friday

Stocks in this article: SEAS

NEW YORK (TheStreet) -- SeaWorld Entertainment (SEAS) is climbing higher on Friday after posting an uptick in sales while net losses were in line with estimates. 

By early afternoon, shares had added 2.2% to $32.20. 

The theme park chain saw revenue increase 3% in the three months to December to $272 million, boosted by a jump in revenue per capita but partially offset by decreased turnout.

Analysts surveyed by Thomson Reuters had anticipated $271.4 million in revenue. 

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Quarterly attendance declined by 1.4% to 4.5 million across its portfolio of parks, though in SeaWorld-branded parks alone attendance hit a record fourth-quarter high. SeaWorld attendance came in spite of increased pressure from activists and the release of Blackfish, a documentary investigating SeaWorld's treatment of its captive orcas. 

During a post-earnings conference call, CEO Jim Atchison said of the film, "With respect to the impact on our business, as much as we're asked it, we can see no noticeable impact."

The company reported a net loss of 15 cents a share in the three months to December, in line with analysts' expectations but wider than a loss of 11 cents in the year-ago quarter.

SeaWorld noted due to the seasonal nature of its business, it isn't unusual for it to see losses in the first and fourth quarters which are more than offset by a profit surge in the warmer-weather months.

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