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Mar 31, 2025
United Parks & Resorts Q1 2025 Earnings Report
Reported First Quarter 2025 Results
Key Takeaways
United Parks & Resorts Inc. reported a decrease in total revenue and attendance for the first quarter of 2025, primarily attributed to the timing of the Easter and Spring Break holidays shifting to the second quarter. Despite the calendar shift, in-park per capita spending increased to a record level. The company remains optimistic about the remainder of the year with new attractions and positive forward bookings.
Attendance decreased by 1.7% to 3.4 million guests.
Total revenue decreased by 3.5% to $286.9 million.
Net loss increased by 44.0% to $16.1 million.
In-park per capita spending increased by 1.1% to a record $38.58.
Revenue by Segment
Forward Guidance
The company expects new records in revenue and Adjusted EBITDA in 2025, driven by significant investments in new attractions and positive trends in forward bookings.
Positive Outlook
- Exciting line-up of new rides, attractions, and events across parks.
- Improved in-park venues and offerings.
- 2025 bookings for Discovery Cove are running ahead of 2024.
- 2025 group bookings are running ahead of 2024.
- 2025 international ticket sales are running ahead of 2024.
Challenges Ahead
- Results in Q1 negatively impacted by timing of Easter and Spring Break.
- Shift of peak operating days impacted admissions per capita and in-park per capita in Q1.
- Certain timing related impacts increased expenses in Q1 2025 compared to Q1 2024.
- Highly competitive theme park industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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