United Parks & Resorts(US:PRKS)2025-11-06 11:36Attendance and Guest Metrics - Attendance in Q3 2025 was 6.8 million guests, a decrease of approximately 240,000 guests or 3.4% from Q3 2024[8] - Attendance for the first nine months of 2025 was 16.4 million guests, a decrease of approximately 252,000 guests or 1.5% from the first nine months of 2024[16] - Attendance for the three months ended September 30, 2025, was 6,789 thousand, a decrease of 3.4% compared to 7,029 thousand in 2024[43] Financial Performance - Total revenue for Q3 2025 was $511.9 million, a decrease of $34.1 million or 6.2% from Q3 2024[8] - Total revenue for the first nine months of 2025 was $1,289.0 million, a decrease of $51.9 million or 3.9% from the first nine months of 2024[16] - For the three months ended September 30, 2025, total revenues decreased by 6.2% to $511.8 million compared to $545.9 million in the same period of 2024[35] - Admissions revenue for the three months ended September 30, 2025, was $268.6 million, down 9.5% from $296.9 million in 2024[35] - Net income for Q3 2025 was $89.3 million, a decrease of $30.4 million or 25.4% from Q3 2024[8] - Net income for the first nine months of 2025 was $153.3 million, a decrease of $46.3 million or 23.2% from the first nine months of 2024[16] - Net income for the three months ended September 30, 2025, was $89.3 million, down 25.4% from $119.6 million in 2024[35] - Basic earnings per share for the three months ended September 30, 2025, was $1.62, compared to $2.09 in the same period of 2024[35] EBITDA and Cash Flow - Adjusted EBITDA for Q3 2025 was $216.3 million, a decrease of $42.1 million or 16.3% from Q3 2024[8] - Adjusted EBITDA for the three months ended September 30, 2025, was $216.3 million, a decrease of 42.1% from $258.4 million in 2024[36] - Free Cash Flow is highlighted as a crucial liquidity measure, although it excludes mandatory debt service requirements, which are significant[28] Capital Expenditures and Debt - Capital expenditures for the nine months ended September 30, 2025, totaled $222.2 million, down $54.98 million from 2024[36] - Total long-term debt, including current maturities, decreased to $2,251,875 thousand from $2,263,442 thousand, a reduction of 0.5%[39] - Capital expenditures for the nine months ended September 30, 2025, totaled $167,227 thousand, down 24.7% from $222,207 thousand in the same period of 2024[41] Company Operations and Future Plans - The company has repurchased over 635,000 shares for an aggregate total of approximately $32.2 million from the beginning of Q3 through November 4, 2025[8] - The company is set to launch several new attractions in 2026, including SEAQuest: Legends of the Deep and Barracuda Strike[14] - United Parks & Resorts Inc. operates 13 parks across the U.S. and Abu Dhabi, offering a diverse portfolio of experiences and caring for one of the largest zoological collections globally[30] - The Company has a legacy of rescuing over 42,000 animals in need, showcasing its commitment to animal welfare[30] Risks and Forward-Looking Statements - Forward-looking statements indicate potential risks affecting attendance and guest spending, including economic uncertainties and labor shortages[32] - The Company acknowledges that actual results may vary materially from forward-looking statements due to various uncontrollable factors[32] - Risks include increased labor costs, regulatory changes, and the impact of public health events on business operations[32] - The Company is subject to complex federal and state regulations, which can change and affect operations[32] - The Company undertakes no obligation to update forward-looking statements unless required by law, reflecting management's opinions as of the date of the press release[33]