United Parks & Resorts (PRKS) stock surged 6.72% during intraday trading on Thursday, marking a significant upward movement for the theme park operator.

Despite reporting fourth-quarter earnings and revenue that fell short of analyst expectations, investor sentiment turned positive following the company's detailed financial release. The press release highlighted a robust share repurchase program, with the company buying back approximately 4.2 million shares in fiscal 2025 and an additional 2.5 million shares in early 2026, demonstrating strong cash flow and a commitment to returning capital to shareholders.

Furthermore, CEO Marc Swanson provided an optimistic outlook for 2026, citing a compelling lineup of new rides and attractions, an updated marketing strategy, and early indicators of demand. The company reported that Discovery Cove advanced booking revenue is up by high single digits and company-wide group booking revenue is pacing up over 50%. This positive forward guidance, coupled with a noted NYSE order imbalance showing significant buy-side pressure, appears to have driven the stock's impressive intraday gain.