SeaWorld loses $80M in 2014
SAN DIEGO – SeaWorld lost more than $80 million in 2014, according to its annual earnings report.
The Orlando-based company blames the loss on a decrease in attendance. One million fewer people visited SeaWorld in 2014 than the previous year.
SeaWorld reported an adjusted net loss of $25.4 million versus a net loss of $13 million a year ago. It generated $264 million in revenue versus $272 million the previous year.
The company continues to fight negative public perception after the release of the “Blackfish” documentary that focuses on the treatment of Orca whales at the park.
SeaWorld announced in December that its chief executive, Jim Atchison would step down and said it was planning to cut 300 jobs as part of restructuring at a cost of $12 million.
The park’s stock has gained 22 percent in the last three months, but its shares are down 40% from a year ago.
The company plans to discuss its earnings Thursday at 9 a.m.