For the quarter ended March 2025, United Parks & Resorts (PRKS) reported revenue of $286.95 million, down 3.5% over the same period last year. EPS came in at -$0.29, compared to -$0.17 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $293.9 million, representing a surprise of -2.37%. The company delivered an EPS surprise of -26.09%, with the consensus EPS estimate being -$0.23.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Financial Data and Key Metrics Changes - In Q1 2025, total revenue was $286.9 million, a decrease of $10.5 million or 3.5% compared to Q1 2024, primarily due to decreases in admissions per capita and attendance [18][21] - Attendance decreased by approximately 59,000 guests or 1.7% year-over-year, with the Easter shift impacting attendance by about 140,000 guests [19][21] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million compared to the prior year, influenced by revenue declines and timing-related expenses [21][22] - The net loss for Q1 2025 was $16.1 million, compared to a net loss of $11.2 million in Q1 2024 [21] Business Line Data and Key Metrics Changes - In-park per capita spending increased by 1.1%, marking growth for 19 of the last 20 quarters [6][21] - Total revenue per capita decreased by 1.8%, with admissions per capita down 4.2% due to a shift in peak visitation days [19][21] Market Data and Key Metrics Changes - April 2025 attendance was up 8.1% compared to April 2024, indicating a positive trend despite the Q1 challenges [6][21] - Year-to-date attendance through April showed approximately 1.3% growth on a fiscal basis [19] Company Strategy and Development Direction - The company is focused on significant investments in new rides, attractions, and events to enhance guest experience and drive revenue [6][10] - There are ongoing discussions regarding integrating branded hotels into parks and unlocking the value of owned real estate [11][12] - The company is pursuing sponsorship opportunities, expecting to generate over $20 million in high-margin revenue over time [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving new records in revenue and adjusted EBITDA for 2025, with 75% of historical attendance and revenue opportunities still ahead [7][17] - The company is optimistic about the impact of new attractions and events, as well as the potential increase in visitors due to competitive attractions in the area [35][66] Other Important Information - The balance sheet remains strong, with a net total leverage ratio of 3.1 times and approximately $764 million in total available liquidity [14][22] - The company repurchased 100,000 shares for approximately $4.6 million during the first quarter, indicating confidence in the stock's valuation [16][22] Q&A Session Summary Question: How does the company plan to bridge the Q1 EBITDA loss to expected record levels? - Management highlighted strong April performance, with attendance up over 8%, and emphasized upcoming new rides and attractions as key drivers for growth [31][33] Question: What was the impact of Easter on April attendance? - Management noted that April's attendance benefited from the Easter shift, with additional attendance beyond that expected from the holiday [43] Question: How are international sales performing? - International ticket sales are up low single digits year-over-year, with group bookings also running ahead of last year [50][53] Question: What are the expectations regarding labor costs due to competition from Epic? - Management acknowledged planned labor increases but stated they have effectively managed costs and matched labor needs to attendance forecasts [82][83] Question: What is the company's strategy regarding capital allocation and buybacks? - Management indicated a focus on maximizing shareholder returns and mentioned that they are comfortable with the current leverage ratio while considering future buybacks [87][89]

Core Insights - United Parks & Resorts (PRKS) is expected to report a quarterly loss of $0.23 per share, a decline of 35.3% year-over-year, with revenues forecasted at $293.9 million, reflecting a decrease of 1.2% compared to the previous year [1] - The consensus EPS estimate has been revised down by 3.6% over the last 30 days, indicating a collective reevaluation by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [3] Revenue and Attendance Metrics - Analysts project 'Food, merchandise and other' revenues to reach $131.88 million, a year-over-year increase of 0.2% [5] - 'Admissions' revenue is estimated at $163.59 million, indicating a year-over-year decline of 1.3% [5] - 'Total revenue per capita' is forecasted to be $87.12, compared to $86.21 from the previous year [5] Attendance and Spending Metrics - Attendance is expected to be 3,370, down from 3,450 in the same quarter last year [6] - 'Admissions per capita' is projected at $48.42, slightly up from $48.06 year-over-year [6] - 'In-Park per capita spending' is forecasted to reach $39.04, compared to $38.15 from the previous year [6] Stock Performance - Over the past month, shares of United Parks & Resorts have returned +2.7%, while the Zacks S&P 500 composite has increased by +11.3% [7] - Currently, PRKS holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the overall market in the near future [7]

Core Viewpoint - Parks! America, Inc. announced a 1-for-500 reverse stock split followed by a 5-for-1 forward stock split, effective April 30, 2025, aimed at reducing administrative costs associated with a large number of stockholders holding few shares [1][5]. Group 1: Stock Split Details - The reverse stock split will reduce the number of issued and outstanding shares from 75,726,851 to approximately 754,045 shares [2]. - The common stock will trade under the symbol "PRKAD" for 20 trading days post-split before reverting to "PRKA" [2]. - No fractional shares will be issued; instead, stockholders entitled to fractional shares will receive cash payments [3][8]. Group 2: Background and Approval - The reverse/forward stock split was approved by stockholders on March 7, 2025, and subsequently by the Board of Directors on April 1, 2025 [4]. - The Certificates of Amendment for the stock split were filed with the Secretary of State of Nevada on April 10, 2025 [4]. Group 3: Financial Implications for Stockholders - Stockholders with fewer than 500 shares will receive cash equal to their shares multiplied by the average closing sales price over the five trading days preceding the effective date [8]. - Remaining stockholders entitled to fractions will also receive cash payments based on the adjusted average closing sales prices [8]. Group 4: Company Overview - Parks! America, Inc. operates three regional safari parks and focuses on acquiring and developing entertainment assets in the United States [6].

Financial Data and Key Metrics Changes - For Q4 2024, the company generated net revenues of $687 million with attendance of 10.7 million visits, reflecting strong performance compared to the previous year [11] - Adjusted EBITDA for Q4 2024 increased by $120 million to $209 million, with a modified EBITDA margin improvement of 650 basis points to 30.4% [17] - The company ended the year with $83 million in cash and approximately $5 billion in gross debt, providing ample financial flexibility [20] Business Line Data and Key Metrics Changes - Legacy Six Flags operations contributed $324 million in net revenues and 5 million visits during Q4, while legacy Cedar Fair operations saw a decrease of $8 million in revenues due to 115,000 fewer visits [11][12] - In-park per capita spending increased by 3% to $61.6, driven primarily by legacy Six Flags operations [12][13] - AutoPark revenues totaled $48 million in Q4, including $14 million from legacy Six Flags operations [13] Market Data and Key Metrics Changes - Attendance in the first two months of 2025 is up 2%, and sales of season pass units are up 3%, indicating strong consumer demand [7][21] - The company is closely monitoring the impact of recent wildfires in California on its Southern California parks, which are significant contributors to EBITDA [25] Company Strategy and Development Direction - The company aims to achieve adjusted EBITDA of $1.08 billion to $1.12 billion in 2025, focusing on driving attendance and optimizing operating efficiencies [8][27] - A significant capital program for 2025 includes investments in new attractions at 11 of the 14 largest properties, aimed at enhancing guest experiences and increasing demand [28][31] - The company is also pursuing portfolio optimization efforts, considering divestitures of non-core properties to enhance shareholder value [32][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthy economic environment for consumers, with park-goers willing to spend on high-quality entertainment experiences [8] - The company is optimistic about the potential for attendance growth, which is seen as a key driver for sustainable cash flow growth and shareholder value creation [27][68] - Management acknowledged potential risks from foreign currency exchange rates and the residual impact of wildfires on performance [25][41] Other Important Information - The company achieved approximately $50 million in gross cost synergies in 2024, with plans for an additional $70 million in 2025 [18][19] - Capital expenditures for 2025 are projected to be between $475 million and $500 million, focusing on maximizing free cash flow [23][24] Q&A Session Summary Question: Guidance assumptions for 2025 - Management discussed that guidance is based on normal weather patterns, no significant economic downturn, and moderate inflation [41][42] Question: Portfolio optimization and monetization of smaller parks - Management emphasized the strategic decision-making process regarding portfolio optimization, focusing on value creation and geographic diversification [51][54] Question: Update on revenue synergies and Allpark Pass - Management noted that revenue synergies are still being realized, with early adoption of the Allpark Pass being encouraging but still in the early stages [59][61] Question: Attendance growth drivers and season pass pricing - Management highlighted the importance of season pass sales and the potential for higher attendance levels to drive revenue growth [68][80] Question: Maintenance CapEx versus structural changes - Management indicated that consistent investment is crucial for driving guest interest and improving in-park revenue [95][98]

Six Flags Entertainment posted revenue growth from its Cedar Fair merger despite missing EPS forecasts.Six Flags Entertainment (FUN -2.84%), a national amusement park company, disclosed its fourth-quarter 2024 earnings on Feb. 27, 2025, demonstrating growth but also missing crucial financial forecasts. A significant merger with Cedar Fair completed last year contributed to increased attendance and a sharp rise in revenue to $687 million from $371 million in the previous year. However, this still fell short ...