SeaWorld losses widen for the year, CEO Manby departs

Posted: 7:35 AM, Feb 27, 2018
Updated: 2018-02-27 15:36:03Z

ORLANDO, Fla. (AP) - SeaWorld is posting a fourth-quarter loss of $20.4 million and says CEO Joel Manby is stepping down.

John Reilly, the chief parks operations officer, will take over on an interim basis.

On a per-share basis, the Orlando, Florida, company had a loss of 24 cents, which is worse than the per-share loss of 18 cents that Wall Street had expected, according to Zacks Investment Research.

Quarterly revenue of $265.5 million beat out analyst projections for $260.1 million.

Annual losses widened to $202.4 million, or $2.36 per share. Revenue was $1.26 billion.

Shares of SeaWorld Entertainment Inc. rose about 2 percent before the opening bell Tuesday.