SeaWorld Entertainment, Inc. (NYSE:SEAS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 09:00 am ET


SeaWorld Entertainment, Inc. (NYSE:SEAS) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the SeaWorld Third Quarter 2019 Earnings Conference Call. [Operator instructions]

I would now like to turn the conference over to Matthew Stroud, Vice President of Investor Relations. Please go ahead, sir.

Matthew Stroud

Thank you, and good morning, everyone.

Welcome to SeaWorld's third quarter 2019 earnings conference call. Today's call is being webcast and recorded. Press release was issued this morning and is

available on our Investor Relations website at Replay information for this call can be found in the press release and will be available on our website following the call.

Joining me this morning are Marc Swanson, Interim Chief Executive Officer; Elizabeth Gulacsy, Interim Chief Financial Officer and Chief Accounting Officer; and Sergio Rivera, recently appointed Chief Executive Officer, whose first official day will be Monday, November 11. This morning, we will review our third quarter 2019 financial results, and then we'll open up the call to your questions.

Before we begin, I'd like to remind everyone that our comments today will contain forward-looking statements within the meaning of the federal securities laws. These statements are subject to a number of risks and uncertainties that could cause actual results to be materially different from those forward-looking statements, including those identified in the Risks Factors section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. These factors may be updated from time to time and will be included in our filings with the SEC that are available on our website. We undertake no obligation to update any forward-looking statements.

In addition, on the call we may reference adjusted EBITDA and free cash flow, which are non-GAAP financial measures. More information regarding our forward-looking statements and reconciliations of adjusted EBITDA and free cash flow to the most comparable GAAP measure is included in our earnings release available on our website and can also be found in our filings with the SEC.

Now I would like to turn the call over to Marc Swanson. Marc?

Marc Swanson

Thank you, Matthew. Good morning, everyone, and thank you for joining us.

I am very excited to have the opportunity to introduce Serg to everyone today. As outlined in our press release this morning, Serg will be officially joining as CEO on Monday. Elizabeth and I will take you through the quarter and answer your questions today, but we thought it would be good for you to briefly hear from Serg.

I'll pass the call over to Serg for some brief remarks and then Elizabeth and I will take you through the quarter. Serg?

Sergio Rivera

Thank you, Marc. Good morning, everyone.

I am excited to be here at SeaWorld Entertainment. The Company has an exceptional business model, irreplaceable set of assets and an incredibly talented group of ambassadors who are delivering extraordinary service and experiences to all our guests. I've been out to most of our parks over the past several weeks, and it's been really incredible to see how special these parks