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.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy PRKS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on PRKS
Wall Street analysts forecast PRKS stock price to rise
9 Analyst Rating
3 Buy
5 Hold
1 Sell
Hold
Current: 32.840
Low
28.00
Averages
44.01
High
62.00
Current: 32.840
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, Water Country USA, Adventure Island and Sesame Place. It has developed a portfolio of approximately 13 differentiated theme parks that are grouped in markets across the United States and Abu Dhabi. 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, SeaWorld Abu Dhabi and SeaWorld San Antonio. It 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.
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.
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
TRUIST SECURITIES INCREASES TARGET PRICE FOR UNITED PARKS & RESORTS INC TO $53, UP FROM $47
- Price Increase Announcement: United Parks & Resorts has raised its target price to $53 from $47.
- Market Impact: This adjustment reflects a positive outlook on the company's performance and potential growth in the market.
See More
Oil Price Surge Triggers Stock Market Decline
- Oil Price Impact: The war with Iran has pushed oil prices back to $100 per barrel, with Brent crude rising 8.2% to $99.46, exacerbating concerns over global inflation and leading to declines of over 1% in both the S&P 500 and Nasdaq Composite indices.
- Major Index Volatility: The Dow Jones Industrial Average fell by more than 500 points, indicating heightened investor anxiety regarding potential prolonged inflation, which could adversely affect consumer spending and overall market confidence.
- Norwegian Cruise Line Decline: Norwegian Cruise Line (NCLH) shares dropped 4.7%, reflecting significant volatility with 26 moves greater than 5% in the past year, suggesting that while the market reacted strongly, it does not fundamentally alter perceptions of the company's business.
- Weak Guidance: The company's fourth-quarter revenue of $2.24 billion fell short of the $2.34 billion estimate, and its adjusted profit guidance of $2.38 per share for 2026 was 8.3% below analyst expectations, indicating potential challenges ahead for the cruise operator.
See More
United Parks & Resorts Q4 2025 Earnings Call Insights
- Disappointing Financial Performance: United Parks & Resorts reported total revenue of $373.5 million for Q4 2025, reflecting a 2.8% decline due to a decrease of approximately 126,000 guests, which indicates challenges in attracting visitors and impacts on per capita admission revenue.
- Cost Management Initiatives: CEO Marc Swanson emphasized decisive actions taken to address suboptimal cost management in 2025, with updated plans and investments for 2026 aimed at driving attendance and guest spending, showcasing confidence in future performance.
- New Attractions and Marketing Strategy: The company plans to introduce new rides, shows, and events while revamping its marketing strategy, which is expected to drive growth in 2026, particularly as Discovery Cove's advanced booking revenue has shown high single-digit growth, indicating market potential.
- Commitment to Shareholder Returns: As of February 24, 2026, the company repurchased 6.7 million shares, representing about 12% of outstanding shares, underscoring strong cash flow and commitment to shareholder returns, with expectations to enhance shareholder value through real estate monetization and sponsorship revenue opportunities.
See More
SeaWorld Entertainment Reports Q4 Earnings Miss
- Earnings Miss: SeaWorld Entertainment reported a Q4 GAAP EPS of $0.28, falling short by $0.26, indicating pressure on profitability that could undermine investor confidence.
- Revenue Decline: The company generated revenue of $373.5 million, a 2.8% year-over-year decrease, missing market expectations and reflecting potential weaknesses in visitor numbers or spending, which may negatively impact future performance.
- Market Reaction: The disappointing earnings report may lead to a negative market response for SeaWorld's stock price, prompting investors to closely monitor subsequent market dynamics and the company's strategic responses.
- Future Outlook: Facing pressures on revenue and earnings, SeaWorld Entertainment must develop effective strategies to restore growth, particularly in the highly competitive theme park industry.
See More
United Parks & Resorts Q4 Profit Declines
- Profit Decline: United Parks & Resorts reported a fourth-quarter net profit of $15.05 million, translating to $0.28 per share, which is a significant drop from last year's $27.90 million and $0.50 per share, indicating a weakening in the company's profitability.
- Revenue Slight Decline: The company's revenue for the fourth quarter was $373.55 million, down 2.8% from $384.38 million last year, reflecting soft market demand and increased competitive pressures.
- Financial Performance Comparison: The simultaneous decline in net profit and earnings per share compared to last year suggests challenges in cost control and revenue growth, which could impact future investor confidence.
- Uncertain Market Outlook: Given the drop in profit and revenue, the future growth potential of United Parks & Resorts is in question, prompting investors to monitor how the company adapts to market changes to restore profitability.
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
TRUIST SECURITIES INCREASES TARGET PRICE FOR UNITED PARKS & RESORTS INC TO $53, UP FROM $47
- Price Increase Announcement: United Parks & Resorts has raised its target price to $53 from $47.
- Market Impact: This adjustment reflects a positive outlook on the company's performance and potential growth in the market.
See More
Oil Price Surge Triggers Stock Market Decline
- Oil Price Impact: The war with Iran has pushed oil prices back to $100 per barrel, with Brent crude rising 8.2% to $99.46, exacerbating concerns over global inflation and leading to declines of over 1% in both the S&P 500 and Nasdaq Composite indices.
- Major Index Volatility: The Dow Jones Industrial Average fell by more than 500 points, indicating heightened investor anxiety regarding potential prolonged inflation, which could adversely affect consumer spending and overall market confidence.
- Norwegian Cruise Line Decline: Norwegian Cruise Line (NCLH) shares dropped 4.7%, reflecting significant volatility with 26 moves greater than 5% in the past year, suggesting that while the market reacted strongly, it does not fundamentally alter perceptions of the company's business.
- Weak Guidance: The company's fourth-quarter revenue of $2.24 billion fell short of the $2.34 billion estimate, and its adjusted profit guidance of $2.38 per share for 2026 was 8.3% below analyst expectations, indicating potential challenges ahead for the cruise operator.
See More
United Parks & Resorts Q4 2025 Earnings Call Insights
- Disappointing Financial Performance: United Parks & Resorts reported total revenue of $373.5 million for Q4 2025, reflecting a 2.8% decline due to a decrease of approximately 126,000 guests, which indicates challenges in attracting visitors and impacts on per capita admission revenue.
- Cost Management Initiatives: CEO Marc Swanson emphasized decisive actions taken to address suboptimal cost management in 2025, with updated plans and investments for 2026 aimed at driving attendance and guest spending, showcasing confidence in future performance.
- New Attractions and Marketing Strategy: The company plans to introduce new rides, shows, and events while revamping its marketing strategy, which is expected to drive growth in 2026, particularly as Discovery Cove's advanced booking revenue has shown high single-digit growth, indicating market potential.
- Commitment to Shareholder Returns: As of February 24, 2026, the company repurchased 6.7 million shares, representing about 12% of outstanding shares, underscoring strong cash flow and commitment to shareholder returns, with expectations to enhance shareholder value through real estate monetization and sponsorship revenue opportunities.
See More
SeaWorld Entertainment Reports Q4 Earnings Miss
- Earnings Miss: SeaWorld Entertainment reported a Q4 GAAP EPS of $0.28, falling short by $0.26, indicating pressure on profitability that could undermine investor confidence.
- Revenue Decline: The company generated revenue of $373.5 million, a 2.8% year-over-year decrease, missing market expectations and reflecting potential weaknesses in visitor numbers or spending, which may negatively impact future performance.
- Market Reaction: The disappointing earnings report may lead to a negative market response for SeaWorld's stock price, prompting investors to closely monitor subsequent market dynamics and the company's strategic responses.
- Future Outlook: Facing pressures on revenue and earnings, SeaWorld Entertainment must develop effective strategies to restore growth, particularly in the highly competitive theme park industry.
See More
United Parks & Resorts Q4 Profit Declines
- Profit Decline: United Parks & Resorts reported a fourth-quarter net profit of $15.05 million, translating to $0.28 per share, which is a significant drop from last year's $27.90 million and $0.50 per share, indicating a weakening in the company's profitability.
- Revenue Slight Decline: The company's revenue for the fourth quarter was $373.55 million, down 2.8% from $384.38 million last year, reflecting soft market demand and increased competitive pressures.
- Financial Performance Comparison: The simultaneous decline in net profit and earnings per share compared to last year suggests challenges in cost control and revenue growth, which could impact future investor confidence.
- Uncertain Market Outlook: Given the drop in profit and revenue, the future growth potential of United Parks & Resorts is in question, prompting investors to monitor how the company adapts to market changes to restore profitability.
See More
