Posted
From the press release:
Fourth Quarter 2025 Results
- Attendance was 4.8 million guests, a decrease of approximately 126,000 guests or 2.6% from the fourth quarter of 2024.
- Total revenue was $373.5 million, a decrease of $10.8 million or 2.8% from the fourth quarter of 2024.
- Net income was $15.1 million, a decrease of $12.8 million or 46% from the fourth quarter of 2024. This includes a one-time non-cash write-off of bad debt expense of $7.6 million dollars.
- Adjusted EBITDA was $115.2 million, a decrease of $29.3 million or 20.3% from the fourth quarter of 2024. This includes a one-time non-cash write-off of bad debt expense of $7.6 million dollars.
- Total revenue per capita decreased 0.2% to $78.56 from the fourth quarter of 2024. Admission per capita decreased 2.2% to $42.67 while in-park per capita spending increased 2.1% to a record $35.89 from the fourth quarter of 2024.
Fiscal 2025 Results
- Attendance was 21.2 million guests, a decrease of approximately 378,000 guests or 1.8% from fiscal 2024.
- Total revenue was $1.7 billion, a decrease of $62.7 million or 3.6% from fiscal 2024.
- Net income was $168.4 million, a decrease of $59.1 million or 26.0% from fiscal 2024.
- Adjusted EBITDA was $605.1 million, a decrease of $95.0 million or 13.6% from fiscal 2024.
- Total revenue per capita decreased 1.9% to $78.54 from fiscal 2024. Admission per capita decreased 4.3% to a $41.73 while in-park per capita spending increased 1.0% to a record $36.81 from fiscal 2024.
"Our fiscal 2025 results did not meet our expectations. While the consumer environment was uneven and our results were impacted by negative international tourism trends and volatile weather during certain peak visitation periods, we should have delivered better results, particularly on the cost side of the income statement. We have moved decisively to address our less than optimal cost management and have updated and focused our plans and investments for 2026 designed to drive attendance and guest spending across our parks. These include a compelling lineup of new rides, shows and attractions, an updated events calendar, an expanded concert lineup, new and upgraded food and retail locations, a revamped and enhanced marketing plan and strategy as well as other investments that we expect will drive demand and spending across our parks," said Marc Swanson, Chief Executive Officer of United Parks & Resorts Inc. "Combined with disciplined operational execution and an additional heightened focus on cost management and efficiency, we are confident these initiatives position us to deliver strong financial performance in 2026."
"Our fourth quarter performance was impacted by lower international visitation and fewer operating days compared to the fourth quarter of 2024. The net impact of weather was essentially flat compared to last year, as the recovery from hurricanes in the prior year was offset by unfavorable weather during certain peak visitation periods, particularly in San Diego and Williamsburg as well as Florida in the peak last few days of the year. Excluding the impacts of international visitation and operating days, underlying attendance trends would have been approximately flat for the quarter. Importantly, we reported record in-park per capita spending in the quarter, underscoring that guests continue to respond positively to our offerings and spend when they visit our parks."