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The Florida Coral Rescue Center (FCRC), managed by SeaWorld, has successfully documented the first reproduction of the threatened rough cactus coral, a significant step for coral conservation. Over the past weeks, hundreds of larvae were released by these corals, which are critical for the restoration of Florida's severely impacted coral reefs. Despite being the largest coral holding facility in the U.S., FCRC is at maximum capacity. The center cares for over 700 corals, including 18 species affected by the Stony Coral Tissue Loss Disease, which has devastated coral populations in Florida and beyond.
SeaWorld Entertainment, Inc. (NYSE: SEAS) will announce its first quarter financial results on May 5, 2022, before the market opens. A live conference call will occur at 9 a.m. Eastern Time on the same day and will be accessible via the company's website. For those unable to attend live, a replay will be available starting at 12 p.m. Eastern Time that day and lasting until May 12, 2022. SeaWorld continues to focus on animal welfare and has cared for nearly 39,900 animals in need, underscoring its commitment to conservation.
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SeaWorld has announced an expansion of its manatee critical care facility in Orlando, Florida. This project will include a new three pool complex, adding 200,000 gallons of water and doubling their critical care capacity to treat over 60 manatees, the largest in Florida and the U.S. The expansion is vital due to the Unusual Mortality Event affecting manatees. The buildout began in 2022 and is expected to finish in early 2023. SeaWorld's commitment to manatee care showcases its leading role in animal rescue and rehabilitation efforts.
SeaWorld has transferred two manatees to Georgia Aquarium as part of a partnership to enhance manatee rehabilitation efforts amid a crisis in Florida. Due to a significant mortality event, SeaWorld's Rescue Center is facing capacity issues. The manatees, a juvenile male and female, were rescued last December and are receiving care at Georgia Aquarium's facilities. In 2021, over 1,100 manatees died primarily from starvation linked to pollution and poor water quality. This collaboration aims to provide better care for the endangered species, with both facilities committed to their rehabilitation and eventual return to the wild.
SeaWorld Entertainment has replenished its share repurchase program by $228.2 million, raising the total authorized amount to $250 million. The program allows for repurchases through various methods, with no fixed time limit, and aims to enhance shareholder value. The timing and number of shares repurchased will depend on market conditions, company liquidity, and legal requirements. As a leader in animal welfare and entertainment, SeaWorld continues to support animal rescue and rehabilitation, showcasing its commitment to environmental conservation.
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