First the consumers spoke out against SeaWorld, and now Wall Street is speaking.
SeaWorld Entertainment, Inc. (SEAS)'s stock took a dive Wednesday, in response to the company's announcement of low second-quarter earnings. Analysts polled by Thomson Reuters had estimated that SeaWorld's earnings would amount to 59 cents per share in the second quarter, but the company fell short, reporting 43 cents a share instead.
"Today is a great victory for dolphins and humanity -- it also shows that socially conscious films like ‘Blackfish' and ‘The Cove' have power to change the World. I've been waiting for this day for ten years," says Louie Psihoyos, the director of "The Cove." "There will be no recovering for [SeaWorld] now -- at least not while they have dolphins in their concrete bathtubs. "
As the Orlando Sentinel reports, although weather and the timing of the Easter holiday worked in the park's favor, overall attendance bumped up just 0.3 percent -- and the guests who did visit spent less money. The total revenue for the most recent quarter was $405.2 million, a decrease of 1 percent compared to the company's earnings in the same quarter last year.
[By 11:30 a.m. eastern Wednesday, SeaWorld's stock (NYSE:SEAS) fell dramatically, diving roughly 30 percent; via Yahoo]