SeaWorld reports 2Q profit, but results disappoint, stock slides

MarketsAssociated Press

SeaWorld Entertainment Inc. (SEAS) on Wednesday reported a second-quarter profit after posting a loss in the same period a year ago. But the company's results fell short of analysts' expectations and shares slid.

The Orlando, Florida-based company reported net income of $37.3 million, or 43 cents per share, compared with a loss of $15.9 million, or 18 cents per share, in the same quarter a year ago.

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The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The company said revenue declined 1.5 percent to $405.2 million from $411.3 million in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $447.7 million, according to Zacks.

SeaWorld shares dropped $8.41, or 30 percent, to $19.74 in midday trading. The stock is down 31 percent this year.