The reports have become much more verbose starting with Q3 2024. I will post a link to the full report and the highlights along with the first paragraph of commentary for consistency.
Q3 2024 PRKS Quarterly Report
United Parks & Resorts Inc. Reports Third Quarter
and First Nine Months 2024 Results
2024-11-07
ORLANDO, Fla., Nov. 7, 2024
/PRNewswire/
-- United Parks & Resorts Inc. (NYSE: PRKS), a leading theme park and
entertainment company, today reported its nancial results for the third quarter and rst nine months of scal year
2024.
Third Quarter 2024 Highlights
-Attendance was 7.0 million guests, a decrease of approximately 0.1 million guests or 1.4% from the third
quarter of 2023.
-Total revenue was $545.9 million, a decrease of $2.3 million or 0.4% from the third quarter of 2023.
-Net income was $119.7 million, a decrease of $3.9 million or 3.1% from the third quarter of 2023.
-Adjusted EBITDA[1] was $258.4 million, a decrease of $8.0 million or 3.0% from the third quarter of 2023.
-Total revenue per capita[2] increased 1.0% to $77.66 from the third quarter of 2023. Admission per capita[2]
increased 0.5% to $42.24 while in-park per capita spending[2] increased 1.6% to a record $35.42 from the
third quarter of 2023.
First Nine Months 2024 Highlights
-Attendance was 16.7 million guests, an increase of 20 thousand guests or 0.1% from the first nine months of
2023.
-Total revenue was a record $1,340.9 million, an increase of $3.3 million or 0.2% from the first nine months of
2023.1
-Net income was $199.6 million, an increase of $5.5 million or 2.8% from the first nine months of 2023.
-Adjusted EBITDA was $555.7 million, a decrease of $7.3 million or 1.3% from the first nine months of 2023.
-Total revenue per capita increased 0.1% to $80.46 from the first nine months of 2023. Admission per
capita decreased 1.0% to $43.61, while in-park per capita spending increased 1.5% to a record $36.85 from
the first nine months of 2023.
Other Highlights
-During the third quarter, we increased our revolving credit facility from $390 million to $700 million and,
amongst other changes, lowered the cost of funds by 50 basis points.
-During the third quarter, the Company repurchased 4.1 million shares for an aggregate total of approximately
$211.7 million, leaving approximately $74.9 million remaining under the Share Repurchase Program as of
September 30, 2024. Subsequent to September 30, 2024 through November 6, 2024, the Company has
repurchased an additional approximately 0.8 million shares for an aggregate total of approximately $37.7
million.
-During the third quarter of 2024, the Company came to the aid of 132 animals in need in the wild. The total
number of animals the Company has helped over its history is more than 41,000.
"We are pleased to report another quarter of solid financial results, said Marc Swanson, Chief Executive Officer of
United Parks & Resorts Inc. "Third quarter results were impacted by both a negative calendar shift and
meaningfully worse weather, including Hurricane Debby in August and Hurricane Helene in September. The
combined impact of the calendar shift and the meaningfully worse weather was approximately 320,000 guests,
adjusting for these impacts, attendance would have increased approximately 3% compared to the prior year
quarter, as we continue to see strong demand for our parks during normalized operating conditions and we are
growing total revenue per capita. Our investments and strategies related to our in-park revenue areas continue to
pay o as we again delivered record in-park per capita spending during the quarter which makes for 17 of the last
18 quarters of growth."
finance.yahoo.com
