Gaylord Entertainment Co. withdrew its 2010 outlook on Monday, saying flooding in Tennessee will likely affect its results over the next two quarters.
Gaylord's stock dropped $4.79, or 14.2 percent, to $28.96 in midday trading. Over the past year, the shares have traded between $9.52 and $34.55.
The company said the Gaylord Opryland Resort was damaged by flooding as the nearby Cumberland River breached its levees. The resort's approximately 1,500 guests and workers have been evacuated to a nearby shelter.
The complex is anticipated to be closed for several months. The property is covered by insurance up to $50 million, Gaylord said, and will be inspected for damage as soon as possible. The company is currently determining how to handle conventions that are booked over the next few months.
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