United Parks & Resorts Inc. (PRKS) Q4 2024 Earnings Call Transcript
Total Revenue (Q4 2024) $384.4 million, a decrease of $4.6 million or 1.2% year-over-year due to a decrease in attendance, partially offset by an increase in total revenue per capita.
Total Attendance (Q4 2024) Approximately 4.6 million guests, a decrease of approximately 79,000 guests or 1.6% year-over-year, primarily due to adverse weather conditions.
Total Revenue Per Capita (Q4 2024) Increased by 0.4% year-over-year, driven by pricing initiatives.
Admission Per Capita (Q4 2024) Decreased by 1.9% year-over-year, primarily due to lower pricing on certain promotional admission products.
In-Park Per Capita Spending (Q4 2024) Increased by 3.5% year-over-year, primarily due to pricing initiatives.
Net Income (Q4 2024) $27.9 million, a decrease of $12.2 million year-over-year.
Adjusted EBITDA (Q4 2024) $144.5 million, a decrease of $6 million year-over-year due to decreased revenues and increased expenses.
Total Revenue (Fiscal Year 2024) $1.73 billion, a decrease of $1.3 million or 0.1% year-over-year.
Total Attendance (Fiscal Year 2024) 21.5 million guests, a decrease of approximately 59,000 guests or 0.3% year-over-year.
Net Income (Fiscal Year 2024) $227.5 million, a decrease of $6.7 million year-over-year.
Adjusted EBITDA (Fiscal Year 2024) $700.2 million, a decrease of $13.3 million or 1.9% year-over-year.
Total Available Liquidity (as of December 31, 2024) $798.4 million, including $115.9 million of cash on the balance sheet.
Net Total Leverage Ratio (as of December 31, 2024) 2.94x.
Share Repurchases (Fiscal Year 2024) 9.4 million shares repurchased for approximately $482.9 million, representing about 15% of total shares outstanding.
CapEx (Q4 2024) $26.2 million, including $22.3 million on core CapEx and $3.9 million on expansion or ROI projects.
CapEx (Fiscal Year 2024) $248.4 million, including $177.7 million on core CapEx and $70.7 million on high conviction growth and ROI projects.
Expected CapEx (Fiscal Year 2025) Approximately $225 million, including $175 million on core CapEx and approximately $50 million on growth and ROI projects.
Discover Tomorrow's Bullish Stocks Today
Analyst Views on PRKS
About PRKS
About the author
Busch Gardens Unveils Record-Breaking 2026 Music Festival Lineup
- Innovative Festival Lineup: Busch Gardens is set to launch its strongest music festival lineup in history for 2026, featuring over 25 full-length performances from artists like Flo Rida and Taking Back Sunday, which is expected to significantly boost park attendance and revenue.
- Flexible Admission Options: Concerts are included with all forms of park admission, and Annual Passes or Memberships offer guests flexible access, likely increasing visitor return rates and spending potential.
- Culinary and Musical Fusion: The integration of concerts with the Food, Wine & Garden Festival in Tampa Bay and the Food & Wine Festival in Williamsburg enhances the overall visitor experience, which is expected to attract more family visitors.
- Annual Pass Benefits: Busch Gardens' Annual Pass starts at $13.75 per month, providing unlimited access and seasonal event participation, which is anticipated to draw more guests for long-term visits and enhance customer loyalty.
Busch Gardens Unveils Record-Breaking 2026 Concert Series
- Expanded Music Series: In 2026, Busch Gardens will launch its largest-ever dual-park live music series featuring over 25 full-length performances, attracting diverse music fans and enhancing the parks' appeal.
- Diverse Artist Lineup: The lineup includes renowned artists like Flo Rida and Taking Back Sunday, spanning genres such as pop, hip-hop, rock, and country, which is expected to draw more visitors and boost ticket sales.
- Annual Pass Benefits: Busch Gardens' Annual Pass and Membership programs start at $13.75 per month, offering unlimited park access and seasonal event participation, enhancing visitor flexibility and fostering long-term customer relationships.
- Festival Integration: The 2026 concert series is integrated with the Food, Wine & Garden Festival in Tampa Bay, further enriching the visitor experience and expected to drive increased foot traffic during the spring and summer seasons, strengthening the parks' market competitiveness.
