United Parks & Resorts Inc. (PRKS) Q4 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 26 2026
0mins
Should l Buy PRKS?
Source: SeekingAlpha
Total Revenue (Q4 2025) $373.5 million, a decrease of $10.8 million or 2.8% year-over-year. The decrease was primarily due to decreases in attendance and admissions per capita, partially offset by an increase in in-park per capita spending.
Attendance (Q4 2025) Decreased by approximately 126,000 guests or 2.6% year-over-year. The decline was primarily due to a decrease in international visitation.
Total Revenue Per Capita (Q4 2025) Decreased by 0.2%. Admissions per capita decreased by 2.2%, while in-park per capita spending increased by 2.1%. The overall decrease was due to lower admissions per capita, partially offset by higher in-park spending.
Operating Expenses (Q4 2025) Decreased by $1.8 million or 1.0% year-over-year.
Selling, General and Administrative Expenses (Q4 2025) Increased by $8.7 million or 17.4% year-over-year.
Net Income (Q4 2025) $15.1 million, compared to $27.9 million in Q4 2024. The decline reflects lower revenue and higher SG&A expenses.
Adjusted EBITDA (Q4 2025) $115.2 million, reflecting the overall financial performance of the quarter.
Total Revenue (Fiscal 2025) $1.66 billion, a decrease of $62.7 million or 3.6% year-over-year. The decline was driven by lower attendance and admissions per capita.
Attendance (Fiscal 2025) 21.2 million guests, a decrease of approximately 378,000 guests or 1.8% year-over-year. The decline was attributed to international headwinds and other factors.
Net Income (Fiscal 2025) $168.4 million, reflecting the overall profitability for the year.
Adjusted EBITDA (Fiscal 2025) $605.1 million, indicating the company's earnings before interest, taxes, depreciation, and amortization for the year.
Deferred Revenue Balance (End of December 2025) $143.3 million, a decrease of 4.7% year-over-year, normalized for non-cash write-off of bad debt expense.
Capital Expenditures (Fiscal 2025) $217.5 million, with $182.4 million on core CapEx and $35.1 million on expansion or ROI projects.
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Analyst Views on PRKS
Wall Street analysts forecast PRKS stock price to rise
9 Analyst Rating
3 Buy
5 Hold
1 Sell
Hold
Current: 34.260
Low
28.00
Averages
44.01
High
62.00
Current: 34.260
Low
28.00
Averages
44.01
High
62.00
About PRKS
United Parks & Resorts Inc. is a theme park and entertainment company. The Company owns or licenses a portfolio of recognized brands, including SeaWorld, Busch Gardens, Aquatica, Discovery Cove, and Sesame Place. The Company has developed a portfolio of approximately 13 differentiated theme parks that are grouped in markets across the United States and the United Arab Emirates. Many of its theme parks showcase the Company’s zoological collection and feature a diverse array of both thrill and family-friendly rides, educational presentations, shows and/or other attractions with demographic appeal. SeaWorld owns and operates sea theme parks, including SeaWorld San Diego, SeaWorld Orlando, and SeaWorld San Antonio. The Company owns and operates Busch Gardens theme parks, including Busch Gardens Tampa Bay and Busch Gardens Williamsburg. SeaWorld Theme Parks owns and operates the separately gated Aquatica-branded theme parks such as Aquatica Orlando and Aquatica San Antonio.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Year-Round Discounts: Through the Waves of Honor program, active-duty military personnel and their families can enjoy one complimentary admission per year and a 50% discount on single-day tickets for up to six guests, enhancing the recreational experience for military families.
- Longstanding Support: Over 10 million military members and their families have benefited from free admission through Busch Gardens' initiatives, showcasing the company's commitment to supporting veterans and fostering community engagement.
- New Annual Pass Option: The introduction of the Military Silver Annual Pass allows military families unlimited access and various perks, encouraging repeat visits and further enriching their overall experience at the parks.
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- Ongoing Discount Programs: Through the Waves of Honor program, active-duty military and their guests can enjoy one complimentary admission per year and a 50% discount on single-day tickets for up to six guests, strengthening the company's ties with the military community.
- Longstanding Support: Over the past 25 years, Busch Gardens has provided free admission to more than 10 million military members and their families, demonstrating the company's commitment to veterans and enhancing its brand image and social responsibility.
- New Annual Pass Options: Busch Gardens has introduced a Military Silver Annual Pass, allowing military families unlimited visits for a year, along with various discounts, which further attracts military customers and enhances customer loyalty.
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- Live Conference Call: The company has scheduled a conference call for May 11, 2026, at 9 a.m. Eastern Time, allowing investors to access real-time information through a live webcast on its website.
- Replay Availability: For those unable to attend the live session, a replay will be accessible starting at 12 p.m. Eastern Time on the same day, ensuring that all stakeholders can obtain the financial details.
- Global Business Overview: United Parks & Resorts operates or licenses several renowned theme park brands across 13 parks, showcasing its leadership in the global entertainment industry.
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- Partnership Significance: This event marks the beginning of a long-term partnership between SeaWorld and Ballislife, aimed at bringing high-level basketball events to San Diego, thereby boosting local economic growth and tourism.
- Exclusive Ticket Offers: During the event, SeaWorld will offer exclusive ticket deals, allowing visitors to purchase annual passes for unlimited admission, which is likely to attract more family visitors and increase overall attendance.
- Comprehensive Entertainment Experience: In addition to basketball, guests can enjoy animal encounters, educational presentations, and rides at SeaWorld, ensuring a rich entertainment experience for every visitor, thereby enhancing brand appeal.
See More
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- Partnership Significance: This event marks the beginning of a long-term partnership between SeaWorld and Ballislife, aimed at promoting high-level basketball events, thereby enhancing SeaWorld's competitiveness in the sports entertainment sector.
- Audience Experience: Attendees will not only enjoy the games but also experience other attractions at SeaWorld, including animal encounters and educational presentations, which is expected to attract more visitors, boost ticket sales, and foster brand loyalty.
See More
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- Scope of Impact: This policy has barred individuals with disabilities, including children and veterans, from accessing several attractions owned by United Parks & Resorts, such as SeaWorld Orlando and Busch Gardens Tampa Bay, thereby affecting its customer base.
- Legal Demands: The lawsuit seeks a court order for the company to cease alleged discriminatory practices, update its policies, train staff, and pay damages and civil penalties, highlighting the government's commitment to protecting the rights of disabled individuals.
- Additional Allegations: The complaint also accuses the company of imposing improper costs through rental fees and failing to make reasonable policy adjustments for disabled guests, potentially exposing the company to greater legal and financial risks.
See More
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- Military Appreciation Initiative: Busch Gardens is offering free admission to U.S. veterans and up to three guests during Military Appreciation Month, with registration open until May 10 and visits allowed until June 30, reflecting the company's gratitude for military service.
- Year-Round Discounts: Through the Waves of Honor program, active-duty military personnel and their families can enjoy one complimentary admission per year and a 50% discount on single-day tickets for up to six guests, enhancing the recreational experience for military families.
- Longstanding Support: Over 10 million military members and their families have benefited from free admission through Busch Gardens' initiatives, showcasing the company's commitment to supporting veterans and fostering community engagement.
- New Annual Pass Option: The introduction of the Military Silver Annual Pass allows military families unlimited access and various perks, encouraging repeat visits and further enriching their overall experience at the parks.
See More
Busch Gardens Honors Military Families with Free Admission
- Free Admission for Military Families: Busch Gardens is offering complimentary admission to U.S. military veterans and their families during Military Appreciation Month, allowing veterans to register by May 10 and visit by June 30, showcasing the company's gratitude for military service.
- Ongoing Discount Programs: Through the Waves of Honor program, active-duty military and their guests can enjoy one complimentary admission per year and a 50% discount on single-day tickets for up to six guests, strengthening the company's ties with the military community.
- Longstanding Support: Over the past 25 years, Busch Gardens has provided free admission to more than 10 million military members and their families, demonstrating the company's commitment to veterans and enhancing its brand image and social responsibility.
- New Annual Pass Options: Busch Gardens has introduced a Military Silver Annual Pass, allowing military families unlimited visits for a year, along with various discounts, which further attracts military customers and enhances customer loyalty.
See More
United Parks & Resorts to Release Q1 Financial Results
- Earnings Release Schedule: United Parks & Resorts will announce its Q1 financial results before the market opens on May 11, 2026, which is expected to significantly impact investor sentiment.
- Live Conference Call: The company has scheduled a conference call for May 11, 2026, at 9 a.m. Eastern Time, allowing investors to access real-time information through a live webcast on its website.
- Replay Availability: For those unable to attend the live session, a replay will be accessible starting at 12 p.m. Eastern Time on the same day, ensuring that all stakeholders can obtain the financial details.
- Global Business Overview: United Parks & Resorts operates or licenses several renowned theme park brands across 13 parks, showcasing its leadership in the global entertainment industry.
See More
SeaWorld Hosts All-American High School Basketball Showcase
- Event Highlights: From April 24-25, 2026, SeaWorld will host the 12th annual Ballislife All-American Game, featuring top high school basketball athletes showcasing their skills in events like dunk contests and three-point competitions, which is expected to draw large crowds and enhance SeaWorld's visibility.
- Partnership Significance: This event marks the beginning of a long-term partnership between SeaWorld and Ballislife, aimed at bringing high-level basketball events to San Diego, thereby boosting local economic growth and tourism.
- Exclusive Ticket Offers: During the event, SeaWorld will offer exclusive ticket deals, allowing visitors to purchase annual passes for unlimited admission, which is likely to attract more family visitors and increase overall attendance.
- Comprehensive Entertainment Experience: In addition to basketball, guests can enjoy animal encounters, educational presentations, and rides at SeaWorld, ensuring a rich entertainment experience for every visitor, thereby enhancing brand appeal.
See More
SeaWorld Hosts All-American High School Basketball Showcase
- Event Highlights: From April 24-25, 2026, SeaWorld will host the 12th annual Ballislife All-American Game, featuring top high school basketball athletes showcasing their skills in events like dunk contests and three-point competitions, which is expected to draw large crowds and enhance SeaWorld's brand visibility.
- Star Roster: The girls' team includes top-ranked players such as Oliviyah Edwards at #2 and Jordyn Jackson at #8, who will display their potential and future college basketball prospects, further driving interest and participation in high school basketball.
- Partnership Significance: This event marks the beginning of a long-term partnership between SeaWorld and Ballislife, aimed at promoting high-level basketball events, thereby enhancing SeaWorld's competitiveness in the sports entertainment sector.
- Audience Experience: Attendees will not only enjoy the games but also experience other attractions at SeaWorld, including animal encounters and educational presentations, which is expected to attract more visitors, boost ticket sales, and foster brand loyalty.
See More
DOJ Sues United Parks & Resorts Over Disability Access Policy
- Lawsuit Background: The Department of Justice filed a lawsuit against United Parks & Resorts (PRKS) on Thursday, alleging that its ban on wheeled walkers with seats, including rollators, violates the Americans with Disabilities Act.
- Scope of Impact: This policy has barred individuals with disabilities, including children and veterans, from accessing several attractions owned by United Parks & Resorts, such as SeaWorld Orlando and Busch Gardens Tampa Bay, thereby affecting its customer base.
- Legal Demands: The lawsuit seeks a court order for the company to cease alleged discriminatory practices, update its policies, train staff, and pay damages and civil penalties, highlighting the government's commitment to protecting the rights of disabled individuals.
- Additional Allegations: The complaint also accuses the company of imposing improper costs through rental fees and failing to make reasonable policy adjustments for disabled guests, potentially exposing the company to greater legal and financial risks.
See More
