Shares of United Parks & Resorts (NYSE: PRKS) tumbled 5.68% in pre-market trading on Monday following the release of the company's disappointing first-quarter 2025 financial results. The theme park operator reported wider-than-expected losses and missed revenue estimates, sparking concerns among investors about the company's performance and near-term outlook.

United Parks & Resorts reported a quarterly loss of $0.29 per share, significantly wider than the analyst consensus estimate of a $0.21 loss per share. This represents a 70.59% increase in losses compared to the same period last year when the company reported a loss of $0.17 per share. Total revenue for the quarter came in at $286.9 million, falling short of analyst expectations of $294.02 million and marking a 3.53% decrease from the $297.4 million reported in the first quarter of 2024.

The company attributed the weaker results to several factors, including a 1.7% decrease in attendance, which fell to 3.39 million guests from 3.45 million in the prior-year quarter. United Parks & Resorts also faced challenges with its admission per capita metric, which declined 4.2% to $46.04. The company cited an unfavorable calendar shift, with Easter and Spring Break holidays moving from the first quarter to the second quarter this year, as a key factor impacting attendance and pricing. Despite these headwinds, the company did report a slight 1.1% increase in in-park per capita spending to a record $38.58.

Marc Swanson, Chief Executive Officer of United Parks & Resorts, attempted to reassure investors by highlighting positive trends, stating, "We are pleased to report that April 2025 attendance was up 8.1% compared to April 2024." However, the market's negative reaction suggests that investors remain concerned about the company's ability to meet full-year expectations and navigate ongoing challenges in the theme park industry.