ORLANDO — SeaWorld Entertainment Inc., which owns Busch Gardens in Tampa, said Wednesday that its third-quarter earnings fell 28 percent from a year earlier as attendance at its theme parks declined.
Shares of the Orlando-based company plunged 9.4 percent to close at $16.85 on Wednesday.
SeaWorld has been battling negative publicity surrounding its treatment of killer whales after Blackfish, a documentary that aired last year, suggested its treatment of the mammals provokes violent behavior in them and has led to the death of trainers.
Attendance at its theme parks fell 5.6 percent to 8.4 million in the third quarter from 8.9 million in the same period a year ago, SeaWorld said.
SeaWorld earned $87.2 million, or $1 per share, in the quarter ended Sept. 30, compared with $120.7 million, or $1.34 per share, a year earlier.
Earnings, adjusted for one-time gains and costs, were $1.01 per share. The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
Revenue fell 7.9 percent to $495.8 million in the period. That number beat the $494.2 million analysts expected, according to Zacks.
Shares of SeaWorld are down 31 percent since its initial public offering in April 2013, having fallen 36 percent since the start of this year.