📈 Price History

Ratio Health

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📊 Sector Averages

About

United Parks & Resorts Inc., together with its subsidiaries, operates as a theme park and entertainment company in the United States. The company owns and licenses a portfolio of theme parks, such as a marine-life theme park in San Diego, Orlando, and San Antonio under the SeaWorld brand; family-oriented destination theme parks in Tampa Bay and Williamsburg under the Busch Gardens brand; and South Seas-themed tropical setting water parks in Orlando and San Antonio under the Aquatica brand. It also engages in the operation of reservations only and all-inclusive marine life theme park under the Discovery Cove brand; Sesame Street theme parks in Philadelphia and San Diego under the Sesame Place brand; Water Country USA, a family water park; and Adventure Island, a park which features water rides, dining, and other attractions. The company was formerly known as SeaWorld Entertainment, Inc. and changed its name to United Parks & Resorts Inc. in February 2024. United Parks & Resorts Inc. was founded in 1959 and is headquartered in Orlando, Florida.

Key Ratios Snapshot

📈 Growth Pattern

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🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly cited specific positive data points: attendance up at SeaWorld Orlando since Epic Universe opened, forward group and Discovery Cove bookings up mid-to-high single digits, and a quantified $15 million cost reduction plan. They also expressed clear disappointment in cost management and admitted they 'could have and should have done a better job', but overall projected confidence in second-half execution and long-term value.

Q3 2025

Confident Specific

Management openly acknowledged disappointment ('not happy with results') but immediately pivoted to specific reasons (calendar shift, weather, international decline, execution issues) and expressed high confidence in ability to improve, citing concrete positive data points like in-park per cap growth and forward bookings.

Q4 2025

Mixed

Management admitted results 'did not meet our expectations' and 'we should have delivered better results, particularly on the cost side,' but also expressed strong confidence in 2026 initiatives and valuation upside, using phrases like 'confident these initiatives position us to deliver strong performance' and 'extremely undervalued.'

Q1 2026 latest

Confident Specific

Management provided specific numbers on weather (140k), international (80k), and pass sales (10% in Q1, 12% through April), while expressing confidence in forward indicators despite acknowledging first-quarter shortfalls. Language like 'we are confident these planned investments will drive attendance' and 'we continue to strongly believe our stock is materially undervalued' reinforces a positive but data-backed tone.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears slightly strengthened by this call. The key change is the inflection in deferred revenue (+4.1% after declines) and accelerating pass sales (up 12%), which signal improving consumer demand at current pricing. Management’s commitment to cost savings and share buybacks demonstrates capital discipline, while real estate monetization remains a potential catalyst. However, the lack of explicit EBITDA guidance and the ongoing weather/international headwinds temper enthusiasm. Next quarter, investors should focus on whether deferred revenue continues to grow and if the new marketing campaign yields tangible attendance gains, especially given macro uncertainties and rising gas prices. The strong in-park per-cap growth (+5.3%) is a positive offset to admission per-cap pressure, but sustained revenue growth will hinge on converting pass sales into visits.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Theme park operator with Q1 2026 revenue $278.3M, net loss $34.1M

Revenue & Profitability

Total revenue for Q1 2026 was $278.3 million, down $8.7 million year-over-year. Net loss was $34.1 million compared to a net loss of $16.1 million in Q1 2025. Adjusted EBITDA was $58 million, a decrease of $9.5 million. Operating expenses increased $10 million, partly due to non-cash self-insurance adjustments and one-time consulting costs. The company repurchased 2.6 million shares for $92.7 million in Q1 and an additional 1.8 million shares for $64.8 million subsequent to quarter end.

Outlook

Management acknowledges macroeconomic uncertainties, geopolitical dynamics, and gas price impacts but reports no material slowdown in consumer spending. Forward indicators are positive: paid pass sales are up 12% through April, deferred revenue increased 4.1% to $203.8 million, and Discovery Cove advanced bookings are up double-digits. The company expects to grow revenue and adjusted EBITDA in 2026.

Growth Drivers

Key growth levers include a strong lineup of new rides, shows, attractions, and events, an expanded concert lineup, and upgraded food/retail locations. A revamped marketing plan includes the first national SeaWorld brand campaign in years. Sponsorship revenue is expected to exceed $15 million in 2026, with a target of $30 million in coming years. International expansion and IP partnerships are in active discussions.

Balance Sheet & CapEx

In Q1 2026, CapEx was $69.6 million ($62.7 million core, $7.0 million expansion/ROI). For full year 2026, the company expects core CapEx of $175-$200 million and growth/ROI CapEx of approximately $50 million. Investments include new attractions, technology (AI, robotics, digital kiosks), and marketing initiatives.

Margins

Management emphasized cost control, with expense growth between revenue and adjusted EBITDA under 1% in Q1. They are focused on achieving $50 million in gross cost savings for 2026, offsetting inflationary pressures. Margin expansion since 2019 was noted, but no specific margin guidance was provided for the current year.

Key Risks

Risks flagged include unfavorable weather impacting attendance (140,000 guests lost in Q1), decline in international visitation (80,000 guests lost), geopolitical uncertainties, and macro pressures from gas prices. The company noted potential impacts on consumers but stated no material slowdown has been observed. Marketing execution hiccups were also acknowledged.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-04

Q2 revenue and attendance declined year-over-year, but in-park per capita spending hit a record high. Strategic initiatives, new IP partnerships, and strong forward bookings are expected to drive growth in the coming months, though full-year EBITDA growth is not assured.

Q1 2026 Q1 2026 2026-05-11

Q1 2026 results were impacted by weather and lower international attendance, but in-park per capita spending and paid pass sales hit records. Management expects growth in revenue and adjusted EBITDA for 2026, supported by new attractions, strong bookings, and ongoing cost savings.

Q4 2025 Q4 2025 2026-02-26

Fiscal 2025 saw declines in revenue and attendance due to international and weather headwinds, but record in-park spending and strong cash flow enabled significant share repurchases. Management expects 2026 growth from new attractions, cost discipline, and robust booking trends.

Q3 2025 Q3 2025 2025-11-06

Q3 revenue and net income declined year-over-year due to unfavorable calendar shifts, poor weather, and a drop in international visitation, though in-park per capita spending and certain events saw growth. Strong liquidity and new attractions support a positive long-term outlook.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 saw higher attendance despite severe weather, but revenue and per capita spending declined year-over-year. Management expects a stronger second half, driven by popular events, cost reductions, and improved weather, with positive early indicators for 2026.

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