This is Why SeaWorld Shares Exploded on Monday

Shares of SeaWorld were gaining steam on Monday after posting better than expected second quarter results.

The company saw its shares rise 18% after the theme park operator revealed that attendance is increasing again.

It’s been years of struggle for SeaWorld since “Blackfish” came out, a documentary that alleged the company had mishandled orcas.

For the second-quarter, SeaWorld reported revenue of $391.9 million, up from $373.8 million last year. It was also ahead of the $371.0 million FactSet consensus. Attendance for the quarter was als up nearly 5% to 6.4 million guests.

“The results were driven by our new strategic pricing strategies, new marketing and communications initiatives and the positive reception of our new rides, attractions and events,” said John Reilly, SeaWorld’s interim chief executive.

“In addition, we continued to experience a double-digit increase in season pass sales revenue and an increase in total revenue per capita driven by a 6.5% increase in in-park per capita spending.”

Disclaimer: We have no position in SeaWorld Entertainment Inc. (NYSE: SEAS) and have not been compensated for this article.