Just once I think. The penguin is pecking at a bike tire in town when the tire pops and makes a sudden noise when the air whooshes out. It wasn't that loud or anything, but it did startle me a bit.
There is occasional lighting but not the kind that lights up the whole screen of flashes in a strobe-light pattern. I am very sensitive to flashing (or even bright) lights and I consider the movie to be safe.