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SeaWorld shares sink to record low as attendance keeps falling
Source: The Guardian
SeaWorld shares sink to record low as attendance keeps falling
The aquatic theme park company said 494,000 fewer people visited
its parks in the three months to the end of June compared with the
same period a year earlier
Rupert Neate in New York
Thursday 4 August 2016 16.52 BST
SeaWorld shares sank to a record low on Thursday after the controversial aquatic theme park company reported further falls in attendance and profits.
The company, which induces killer whales, dolphins and sea lions to perform tricks to entertain the public, said 494,000 fewer people visited its parks in the three months to the end of June compared with the same period a year earlier.
The 7.7% drop in attendance, from 6.5 to six million, knocked more than $16m off SeaWorld’s quarterly earnings and spooked analysts and investors, sending the company’s shares down 14.2% to $12.74 by 11am – a record low.
Joel Manby, SeaWorld’s chief executive, who had promised investors that the company would return to growth following a major turnaround strategy announced last year, was forced to apologise to shareholders for the “disappointing” results on a conference call.
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The aquatic theme park company said 494,000 fewer people visited
its parks in the three months to the end of June compared with the
same period a year earlier
Rupert Neate in New York
Thursday 4 August 2016 16.52 BST
SeaWorld shares sank to a record low on Thursday after the controversial aquatic theme park company reported further falls in attendance and profits.
The company, which induces killer whales, dolphins and sea lions to perform tricks to entertain the public, said 494,000 fewer people visited its parks in the three months to the end of June compared with the same period a year earlier.
The 7.7% drop in attendance, from 6.5 to six million, knocked more than $16m off SeaWorld’s quarterly earnings and spooked analysts and investors, sending the company’s shares down 14.2% to $12.74 by 11am – a record low.
Joel Manby, SeaWorld’s chief executive, who had promised investors that the company would return to growth following a major turnaround strategy announced last year, was forced to apologise to shareholders for the “disappointing” results on a conference call.
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Read more: https://www.theguardian.com/us-news/2016/aug/04/seaworld-shares-sink-record-low-attendance-falling
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