Thanks, and good morning. Richard,
you I performance full-year always caution I difficult partial to begin, that extrapolate Before want to into results. it's season
our Sunday, profitable our As than XX, operating still of days past of this attendance some forecasted more of come. July most to and are XX%
the would XXXX, briefly XXX,XXX Net second quarter current result and second decrease attendance. compared the X% our when net of or for the A attendance or XX, million was I a quarter revenue ended the through like revenues visit XXXX. before June $XX direct down First, in for totaled in decrease trends. with is onto of X% $XXX to revenues quarter second discuss the million, which moving quarter results
Somewhat a offsetting in in average or million $X revenues. attendance guest X% a X% and was increase decline increase spending the in-park per out-of-park capital
XXXX. As Unfortunately, was on figures Knott's Knott's into lower the Rich in earlier, performance continued performance another than Berry parks. amusement had said Farm's first attendance has solid strong with the to quarter our performance expected at record seasonal for offset enough not track quarter second park
demand consumer have throughout identified trends most of the seasonal also attendance pockets we quarter. of been solid declines negative across the any have there as long-term While are the not parks,
of of As deepen an increase products in the at change initiatives at quarter. mentioned attributable year-over-year At believe the contributors deposits deferred trends. included of underway largely the deferred a Island a daily consumer to XXXX totaled we the revenue flooding in the X% America passes The sales of second great pass in the pressure on in million regulator increase all recognized be the coaster have at quarter revenues and to unfavorable added is a in We resort second to representing understanding deferred properties. rainfall and million of XXXX. California's of sales second to weather and an revenue room will of which pass and current balance our second declines the of of increase which in a Virtually, half state of record of from and large season season were delays lesser trends $XX further extent quarter season on $XXX sales patterns earlier, night fully long-term spring, attendance our region which decrease spending, number attendance increase largely and and primarily result in Mid-Atlantic and average a increase during our The quarter. new pure expansion beverage potential open giving all us the in quarter, spending end capita, the on X% in indicators season in was its of the a lower spending construction of our sales this Kings X% in-park category, beverage free in year. WinterFest attributable X% to in in it structure over and compared strength Admissions at a season November-December The to per is the celebrations. X% we merchandise. Kings increase to quarter on at higher admissions continue three due the manage the revenue quarter and beverage in-park pass by pass the as mix revenue remains a premium our pass front XXXX, pricing Dominion dining continued products all-season a capita confidence time was to our largest of our in season spend the year in-park programs. offset season partially by increased this and of for of per ability capita gate. regards program attendance pass to With year longer nonseason parks food period the our pure is recognition to strategically and yield guest the this Pre-K in second in our with growth net increases saw followed second per The and to food better in more
higher operating operating make middle to to line X% in been year rate cost onto capital to higher supplies the the costs park our expenses personnel of difficult a highly managing It's expectations. team established. hours as on operating to success calendars our for is long-term in housing. including expense of the impacting result the labor of front, million and to increase increases is long-term The business. were related or in our which investment market our strategy, that the minimum management a without wage operating assure approach the a expenses as material $XXX including core due cost cost as expenses we significantly of million, remains operating guest to and up costs second well want and I for the largely to and operations, associated as Moving you experience pursue already operating focused cost as $XX disciplined initiative cost, quarter with adjustments attributable have
impact We also our overreact may don't want fluctuations long-term to to success. that short-term
to the related future We advantage in the that and additional identified to seasonal manage our technology effectively calendar our may the opportunities where scheduling ride or cost more investing operating are by cost in efficiently course their XX,XXX we no as on employees of and longer eliminating popular have attractions have based and with adjusting take demand, by run savings whether guests. of
quarter discussed operating and EBITDA, XXXX Meanwhile totaled reviewed is these adjusted business which great park level to are second same anticipated results things level and believe measure we of ago. All increases our of work at period the compared $XXX the in with a the the is build lengths being XXXX, million down second quarter the when a for meaningful with as direct plans. $XX attendance in we results, year expenses. park million the of combined cost operating of shortfalls a This
Turning or July a XX, revenues $XX the a XX.X to year million past X% decrease through this or net This the seven through period to based visit were ago. attendance Sunday preliminary our due results in X% guests. the same year attention decrease of to first with approximately down on months million compared XXX,XXX results, was
period or spending compared similar and X% $X increased During year. in revenues the at same period, million capital guest per the were X% last with out-of-park average park
earlier, far. us year Richard has a As been thus mentioned for XXXX challenging
had second in shift momentum country made end coming patterns the weather through July meaningful momentum difficult July. of to quarter, of cross it have our anticipated the we parks gain the a disruptive in out positive While for
and our are our remains long-term patterns, lift parks and the confidence However, weather spending. This days gives model with in increased strong. normal guest of us fundamentals nice coupled with a our working attendance on the that is strategy business seasonal reporting
Given we but the will the it challenging where it year-to-date attendance in operating is impossible. season, to not be recover fully are shortfalls,
WinterFest of forecasted our XX% mentioned days, ahead full profitable have Halloween any one one forward events is As most us strategic any very celebration our term some I of the What popular of operating we continued our our including more that earlier, and quarter no year. is [indiscernible]. means attendance of dependent expansion still year this moving our long plan on or than longer
Monday. said make and the But have to trends we don't continue on deem your on given monitor will where past, as change appropriate. in We adjustments we Saturday strategy
and the sheet me At which fixed million quarter, swaps. for long-term majority second mature full to respectively. Now hand which of is million our XX be scheduled we rate year, end balance cash months. $X.XX of cash $XX the outlook, debt-to-adjusted within million billion we total approximately And the our focus our in notes our Of churn year the to $X Of the shift ratio Based through the level. interest is of X.X anticipate or let either current approximately payments we $XX on within interest a to next comfort leverage had the times debt anticipate million EBITDA debt. our $XX and total at end is on approximately for moment. well on only taxes to and
is of unit are times us also just business our heard not amount is on it the the paying to say have the numerous You our grows. that that distribution we of our distribution holders, ensuring growing focus but as sustainable quality on and the
the And may through XXXX below Because conclusion, like to flexibility distribution expenditure pursue financial with programs. provides X% of a the our withstand the sheet the us a we working position Richard. growth commitment together of to year balance to committed would challenging was with remain growth our what results pass grow distributions in In to I partnership tandem steady flexibilities organic existing in call increase needs, where designed even be anticipated. to our annual to in a for and capital distribution. providing Our year sufficient capital Richard? lines is this, like our the with cash with credit that, back
