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United Parks Q3 revenue misses estimates on weather and international headwinds

By Reuters News


Overview

  • U.S. theme park operator's Q3 revenue fell 1.1% yr/yr, missing analyst expectations

  • Adjusted EBITDA for Q3 was a slight miss versus analyst expectations

  • Company cites weather, calendar and international headwinds for lower attendance and revenue


Outlook

  • Company expects higher attendance, revenue, Adjusted EBITDA and free cash flow in 2027 and beyond

  • 2027 forward bookings revenue for Discovery Cove and group business up double digits year over year

  • Company to launch new and improved holiday event lineup across parks for upcoming season


Result Drivers

  • WEATHER AND INTERNATIONAL HEADWINDS - Co said lower attendance was mainly due to unfavorable weather, calendar impacts and reduced international visitation

  • PROMOTIONAL ADMISSIONS REDUCTION - Co said planned reduction in promotional admissions products led to lower attendance

  • PRICING INITIATIVES - Co said higher admission and in-park per capita spending was driven by pricing initiatives and product mix


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$506.50 mln

$511.74 mln (12 Analysts)

Q3 EPS

$1.74

Q3 Net Income

$80 mln

Q3 Adjusted EBITDA

Slight Miss*

$205.10 mln

$206.58 mln (11 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the leisure & recreation peer group is "buy."

  • Wall Street's median 12-month price target for United Parks & Resorts Inc. is $47.50, about 38.9% above its November 4 closing price of $34.19

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Nov 5 - Six Flags Q3 revenue slightly beats estimates on higher spending

  • Nov 4 - Seaport Entertainment Q3 revenue falls on weather-related headwinds

  • Nov 2 - Marriott tops Q3 revenue, profit estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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