Investing Blog

Finance Blogs » Investing » ‘Blackfish’ sinking SeaWorld stock?

‘Blackfish’ sinking SeaWorld stock?

By Sheyna Steiner · Bankrate.com
Thursday, August 14, 2014
Posted: 4 pm ET

SeaWorld's stock plummeted yesterday after an earnings report showed that revenue is down and the company missed earnings estimates. The stock fell about 36 percent since Tuesday.

© Ramon grosso dolarea/Shutterstock.com

The documentary "Blackfish" could be eating into the company's profits. The earnings report released by SeaWorld this week did admit that attendance has fallen this year as a result of recently proposed legislation in California that was introduced following the CNN documentary.

Revenue was down $6.1 million, or 1 percent, since last year at the same time. Year-to-date, revenue is down 5 percent from the first six months of 2013.

From the SeaWorld press release:

Overall attendance for the quarter improved due to a shift in the timing of Easter into the second quarter in 2014 along with favorable weather compared to the same quarter in 2013. This increase was offset by lower attendance at the company's destination parks due to a combination of factors, including a late start to summer for some schools in the company's key source markets, new attraction offerings at competitor destination parks, and a delay in the opening of one of the company's new attractions. In addition, the company believes attendance in the quarter was impacted by demand pressures related to recent media attention surrounding proposed legislation in the state of California.

The Orca Welfare and Safety Act, introduced earlier this year in California, would ban the use of orcas for performance or entertainment purposes. The vote on the bill was delayed to research the issue.

Screening investments for environmental, social and/or corporate governance factors, or ESG, is also known as socially responsible investing. Investors can actually have an impact on company policies.

How do ESG issues influence your investing?

Get more Investing News with our free weekly newsletter.

Follow me on Twitter @SheynaSteiner.

***
Senior investing reporter Sheyna Steiner is a co-author of "Future Millionaires' Guidebook," an e-book written by Bankrate editors and reporters. It's available at all the major e-book retailers.

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
22 Comments
PattieMac
August 16, 2014 at 11:44 pm

We can all see these animals on TV these days. Set them free!

Sally
August 16, 2014 at 10:43 pm

Please don't make the argument that zoos and shows are necessary so that people can see these animals up close. You don't need to watch a whale or a tiger do tricks in order to appreciate them. It isn't educational at all, it's entertainment.

Add a comment

(Comments may take 5-10 minutes to appear)