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Dec 31, 2025
United Parks & Resorts Q4 2025 Earnings Report
United Parks & Resorts reported lower fourth quarter 2025 results with declines in attendance, revenue and net income, while maintaining record in-park per capita spending.
Key Takeaways
In Q4 2025, United Parks & Resorts generated lower revenue and earnings year over year due to decreased attendance and slightly lower per capita revenue, partially offset by record in-park spending. Adjusted results exclude a one-time non-cash bad debt write-off.
Total revenue decreased to 373547000 from 384384000 in the prior year quarter.
Attendance declined 2.6% to 4755000 guests.
Net income fell to 15053000, down 46.0% year over year.
Adjusted EBITDA decreased 20.3% to 115158000.
Revenue by Segment
Forward Guidance
The company expressed confidence in improved performance for 2026 driven by new attractions, enhanced marketing initiatives, disciplined cost management and strong booking trends.
Positive Outlook
- Discovery Cove advanced booking revenue up high single digits.
- Company-wide group booking revenue pacing up over 50%.
- New rides and attractions planned across parks in 2026.
- Heightened focus on cost management and operational efficiency.
- Sponsorship business viewed as a 30000000 revenue opportunity in coming years.
Challenges Ahead
- Uneven consumer environment impacting demand.
- Negative international tourism trends.
- Volatile weather during peak visitation periods.
- Fewer operating days compared to prior year quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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