United Parks revenue and income down on nearly flat attendance

Posted | Contributed by Jeff

Second Quarter 2025 Highlights

Attendance was 6.2 million guests, an increase of approximately 48 thousand guests or 0.8% from the second quarter of 2024.

Total revenue was $490.2 million, a decrease of $7.4 million or 1.5% from the second quarter of 2024.

Net income was $80.1 million, a decrease of $11.0 million or 12.1% from the second quarter of 2024.

Adjusted EBITDA was $206.3 million, a decrease of $11.9 million or 5.4% from the second quarter of 2024.

Total revenue per capita decreased 2.2% to $78.64 compared to the second quarter of 2024. Admission per capita decreased 3.9% to $41.03 while in-park per capita spending decreased 0.4% to $37.61 compared to the second quarter of 2024.

"We are pleased to have grown attendance in the second quarter despite experiencing amongst the worst weather we have ever experienced in a second quarter. Despite those headwinds, we saw an increase in international and group visitation compared to the prior year in the second quarter. Additionally, we saw an increase in attendance at all of our Orlando parks, including SeaWorld Orlando, Aquatica Orlando and Discovery Cove," said Marc Swanson, Chief Executive Officer of United Parks & Resorts Inc.

More people collectively spending less money in total does not sound like a good idea.

http://cse.umich.edu/

Losing money on each customer but making it up in volume.

They'll have fewer shareholders too:

The Board of Directors voted to recommend a new $500 million share buyback authorization, subject to approval by non-Hill Path shareholders.

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