#USA #Orlando #United Parks #Busch Gardens #SeaWorld

United Parks & Resorts Inc. Financial Performance Report for Q2 2025

United Parks & Resorts Inc. (NYSE: PRKS), a prominent player in the theme park and entertainment industry, presented its financial results for the second quarter of the fiscal year 2025. Despite some headwinds, such as adverse weather conditions, the company saw a slight increase in attendance while its overall revenue witnessed a drop compared to the same period in 2024.

Attendance Growth Amid Adversities

In Q2 2025, United Parks welcomed approximately 6.2 million guests, marking a modest rise of 48,000 attendees—or 0.8%—from the same quarter in the previous year. The uptick in attendance is primarily attributed to a favorable calendar shift that saw major holiday periods like Easter and Spring Break coincide with this quarter. However, this positive news was countered by significant weather-related challenges that impacted guest experiences.

Revenue Trends

The total revenue for the second quarter was reported at $490.2 million, down by $7.4 million from $497.6 million in Q2 2024, representing a 1.5% decrease. This decline can be traced back to a reduction in total revenue per capita, which was influenced by decreasing admissions per capita as well as in-park spending.

Financial Metrics Overview

• - Net Income: The company's net income fell to $80.1 million, down 12.1% compared to $91.1 million in Q2 2024.
• - Adjusted EBITDA: Adjusted EBITDA also saw a decline, dropping 5.4% to $206.3 million from $218.2 million a year prior.
• - Per Capita Revenue: The total revenue per capita decreased by 2.2%, landing at $78.64, with admissions per capita down by 3.9% to $41.03, while in-park spending remained relatively stable with a slight decrease of 0.4% to $37.61.

Year-to-Date Performance

The first half of 2025 also reflected challenges for United Parks. Attendance for the period reached 9.6 million guests, down by 11,000 or 0.1% from the prior year's first six months. The total revenue for this period was $777.2 million, which is a drop of 2.2% compared to the first half of 2024 when it reached $795 million. The net income for this period fell significantly as well, down 20% to $64 million from $79.9 million the previous year, alongside a 7.9% drop in adjusted EBITDA to $273.7 million.

Strategic Moves and Future Outlook

United Parks' leadership is keen on navigating these challenges, focusing on operational improvements and strategic plans to drive revenue and profitability growth. CEO Marc Swanson stated, "We remain optimistic about our forward booking trends, especially in group business and our Discovery Cove property, which are up mid to high single digits for the remainder of the year."

In addition to operational adjustments, the Board of Directors has moved to recommend a substantial $500 million share buyback program, pending approval from non-Hill Path shareholders. The company has laid out a clear proactive stance on leveraging its strong balance sheet to enhance shareholder value through this repurchase.

Animal Rescue and Corporate Responsibility

Besides financial metrics, United Parks continues to uphold its commitment to wildlife conservation, rescuing a noteworthy 500 animals in the second quarter alone, bringing its historical total to more than 42,000. This reflects the company's dedication to marine animal rescue and welfare.

As the summer progresses, United Parks is set to launch a series of popular events, including “Bands, Brew & BBQ” at SeaWorld Orlando, “Summer Spectacular” at SeaWorld San Diego, and various Halloween and Christmas events across its parks.

Conclusion

While United Parks & Resorts faces challenges in the current economic climate, its focus on operational efficiency, guest experience, and commitment to wildlife conservation positions the company for future growth. Stakeholders can expect updates on the progress as the company aims to turn around its performance in the upcoming months. A conference call is scheduled for August 7, 2025, at 9 a.m. Eastern Time to discuss these results in more detail.