Beyond 'Blackfish': SeaWorld attendance, stock rally [Business News Network (BNN) Energy & Resources (Canada)]
SeaWorld Entertainment, Inc. (SEAS)
Last seaworld entertainment, inc. earnings: 2/26 06:30 am
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Source: Business News Network
Beyond 'Blackfish': SeaWorld attendance, stock rally SeaWorld Entertainment Inc. (SEAS.N), the theme-park operator battling criticism over its use of killer whales as attractions, kicked off its biggest rally in five years after attendance rebounded last quarter. The company also posted a smaller loss than Wall Street expected, helping fuel hopes that the embattled brand is forging a turnaround. The shares surged as much as 17 per cent to US$18.50, the biggest intraday gain since April 2013. SeaWorld had seen visitor traffic slide after the 2013 documentary “Blackfish” criticized its treatment of orcas. As part of its comeback plan, the company has ended orca breeding at its parks and introduced new attractions such as roller coasters that don’t involve animals. Attendance at the Orlando, Florida-based company rose 15 per cent to 3.2 million guests in the quarter ended March 31, helped by a relatively early Easter holiday. The loss amounted to 73 cents a share, compared with an estima
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