United Parks & Resorts Inc. (NYSE:PRKS) on Monday reported worse-than-expected first-quarter 2025 results.
The company reported a loss per share of 29 cents, missing the analyst consensus estimate of 21 cents loss. Quarterly sales stood at $286.9 million (down 3.5% year-over-year), missed the analyst view of $294 million.
Total revenue per capita fell 1.8% to $84.62; admissions dropped 4.2% to $46.04, while in-park spending rose 1.1% to a record $38.58.
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Attendance declined 1.7% year-over-year to 3.4 million, down by about 59,000 guests from the 2024 quarter.
The company repurchased 100,000 shares for $4.6 million and aided 205 wild animals, bringing its total rescued to over 42,000.
Adjusted EBITDA fell 14.8% year-over-year to $67.4 million, down $11.7 million year-over-year.
United Parks exited the quarter with cash and equivalents worth $75.665 million, lower than $115.893 million a year ago.
Total long-term debt (including current maturities) contracted to $2.259 billion from $2.263 billion in the year-ago period.
United Parks & Resorts Inc. Chief Executive Officer Marc Swanson said, “We are pleased to report another quarter of strong financial results.” He noted that first-quarter performance was negatively affected by the timing shift of Easter and Spring Break holidays into the second quarter this year, impacting admissions and in-park spending per capita due to the shift in peak operating days.
Swanson also cited timing-related expenses, adding, “First-quarter results were also impacted by certain timing related impacts that resulted in over five million dollars more of certain expenses being recorded in the first quarter of 2025 compared to the first quarter of 2024. We are also pleased to report that April 2025 attendance was up 8.1% compared to April 2024.”
He added that 2025 bookings for Discovery Cove, group bookings, and international ticket sales are all tracking ahead of 2024. “With approximately 75% of our historical attendance and revenue opportunity still ahead of us as of April 30, 2025, we continue to expect new records in revenue and Adjusted EBITDA in 2025.”
Price Action: PRKS shares are trading higher by 2.08% to $48.16 at the last check on Monday.
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