United Parks & Resorts Inc. Reports First Quarter 2025 Results

Core Insights - United Parks & Resorts Inc. reported strong financial results for Q1 2025 despite challenges from the timing of Easter and Spring Break holidays, which shifted to Q2 compared to the previous year [3][6] - In-park per capita spending reached a record level, increasing by 1.1% for the quarter, marking growth for 19 of the last 20 quarters [3][6] - The company anticipates significant revenue and Adjusted EBITDA growth for 2025, driven by new attractions and improved offerings across its parks [3][4] Financial Performance - Attendance for Q1 2025 was approximately 3.4 million guests, a decrease of 59,000 guests or 1.7% from Q1 2024 [6][7] - Total revenue was $286.9 million, down $10.5 million or 3.5% from the same quarter in 2024 [6][9] - The net loss for the quarter was $16.1 million, an increase of $4.9 million from Q1 2024 [6][9] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million or 14.8% from the prior year [6][9] Key Metrics - Total revenue per capita decreased by 1.8% to $84.62, while admission per capita fell by 4.2% to $46.04 [6][31] - In-park per capita spending increased to $38.58, reflecting a 1.1% rise [6][31] - The company repurchased approximately 100,000 shares for about $4.6 million during the quarter [10][6] Future Outlook - The company is optimistic about 2025 bookings for its Discovery Cove property, group bookings, and international ticket sales, all of which are ahead of 2024 [3][4] - Significant investments have been made in new rides and attractions, with a focus on enhancing guest experiences [3][4] - The company expects to achieve new records in revenue and Adjusted EBITDA in 2025, with 75% of historical attendance and revenue opportunities still ahead as of April 30, 2025 [3][4] New Attractions - New attractions include "Jewels of the Sea" at SeaWorld San Diego and "Expedition Odyssey" at SeaWorld Orlando, among others [4][12] - The company continues to enhance its offerings with family-friendly attractions and themed events across its parks [4][12] Animal Rescue Efforts - In Q1 2025, the company aided 205 animals in need, contributing to a total of over 42,000 animals helped throughout its history [11][12] - The company is recognized as a leader in animal rescue, working closely with various agencies to provide urgent care to wildlife [12][22]