SeaWorld Stock Continues to Plummets

October 10, 2015 5:10 pm  |  Comments: 0  | Views: 1212
    

Ever since the documentary Blackfish was released, SeaWorld has been feeling the outrage regarding its continued policies of keeping orcas in captivity to breed for entertainment purposes. In a recent earnings report, SeaWorld Entertainment revealed that they suffered an 84% drop off in earnings for its second quarter, which is usually its busiest time of year. Chief Executive Joel Manby had this to say regarding the decline:

“Our attendance for the second quarter declined due to the timing of Easter, record levels of rainfall in Texas and continued brand challenges in California. These factors were partially offset by improved demand in our other park locations, including Florida.”

Currently, SeaWorld refuses to acknowledge that the decline in attendance is due to the public finding their treatment of their animals inhumane. However, they do agree that they need to find a way to rebrand in California in order to boost attendance. The hope is their two new roller coaster additions in 2016 will do just that.

Net income for the company was $5.8 million, taking its per share from $.43 cents to $.07 cents per share. Due to the continued fallout over their practices, SeaWorld has found some success in the new ad campaigns they’ve been running, however they believe there is a lot of damage to undo in order to fully course correct. We have to say, we agree.

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