SeaWorld backlash drags on its earnings as turnaround continues

 
Billy Bambrough
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Killer Whale Kills Trainer Before Show At SeaWorld
SeaWorld has said it would stop breeding Orcas and end the shows featuring them (Source: Getty)

Controversial theme park operator SeaWorld Entertainment has missed earnings expectations for its eleventh quarter in a row.

SeaWorld reported second-quarter earnings of $17.8m, or 21 cents a share, from $5.8m in the same period a year ago.

Revenue fell to $371.1m from $391.6m, missing the analyst consensus of $375.2m, as attendance declined 7.6 per cent.

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Public scrutiny and criticism of SeaWorld’s treatment of its animals within the park has weighed on attendance, earnings, and the share price for years.

Shares in SeaWorld are down some 25 per cent this year.

The 2013 documentary Blackfish unleashed a tidal wave of negativity on the park.

“Our focus remains on implementing and delivering on our strategic plan of creating experiences that matter, providing distinct guest experiences that are fun and meaningful; driving organic and strategic revenue growth, addressing our challenges and operating with financial discipline,” said SeaWorld president and chief executive Joel Manby.

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“Though effecting the turnaround will take time, we are making progress and continue to take the actions necessary to return to sustainable growth.”

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