United Parks & Resorts Q1 2024 Earnings Report
Key Takeaways
United Parks & Resorts reported a record total revenue of $297.4 million, a 1.4% increase from Q1 2023. Attendance increased by 2.1% to 3.5 million guests. Net loss was $11.2 million, an improvement of $5.3 million from the prior year. Adjusted EBITDA reached a record $79.2 million, up 9.3% year-over-year.
Attendance increased by 2.1% year-over-year, reaching 3.5 million guests.
Total revenue reached a record $297.4 million, a 1.4% increase compared to Q1 2023.
Net loss improved by $5.3 million from the first quarter of 2023, totaling $11.2 million.
Adjusted EBITDA was a record $79.2 million, reflecting a 9.3% increase from the previous year.
United Parks & Resorts
United Parks & Resorts
United Parks & Resorts Revenue by Segment
Forward Guidance
The company continues to expect to deliver new records in revenue and Adjusted EBITDA for 2024.
Positive Outlook
- Exceptional line-up of new, one-of-a kind rides, attractions and events
- Improved in park venues and offerings across our parks
- Launched SeaWorld Parks 60th anniversary celebration featuring special events, shows and attractions that will continue throughout the year
- Encouraged by the booking trends at our Discovery Cove property
- Group bookings which are running well ahead of 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income