ORLANDO, Fla., Aug. 4, 2026 /PRNewswire/ -- United Parks & Resorts Inc. $(PRKS)$, a leading theme parks and entertainment company, today reported its financial results for the second quarter and first six months of fiscal year 2026.
Second Quarter 2026 Highlights
-- Attendance was 6.1 million guests, a decrease of approximately 0.2
million guests or 2.9% from the second quarter of 2025.
-- Total revenue was $483.3 million, a decrease of $6.9 million or 1.4% from
the second quarter of 2025.
-- Net income was $63.3 million, a decrease of $16.8 million or 21.0% from
the second quarter of 2025.
-- Adjusted EBITDA[1] was $195.5 million, a decrease of $10.8 million or
5.2% from the second quarter of 2025.
-- Total revenue per capita[2] increased 1.5% to $79.82 compared to the
second quarter of 2025. Admission per capita[2] decreased 1.8% to $40.31
while in-park per capita spending[2] increased 5.1% to a record $39.51
compared to the second quarter of 2025.
First Six Months 2026 Highlights
-- Attendance was 9.3 million guests, a decrease of approximately 0.3
million guests or 3.6% from the first six months of 2025.
-- Total revenue was $761.6 million, a decrease of $15.5 million or 2.0%
from the first six months of 2025.
-- Net income was $29.2 million, a decrease of $34.8 million or 54.4% from
the first six months of 2025.
-- Adjusted EBITDA[1] was $253.4 million, a decrease of $20.3 million or
7.4% from the first six months of 2025.
-- Total revenue per capita[2] increased 1.7% to $82.11 from the first six
months of 2025. Admission per capita[2] decreased 1.4% to $42.21, while
in-park per capita spending[2] increased 5.1% to a record $39.90 from the
first six months of 2025.
Other Highlights
-- In the second quarter, the Company repurchased approximately 3.3 million
shares for an aggregate total of approximately $125 million. For the
first half of the year, the Company repurchased approximately 5.9 million
shares (or 12.1% of total outstanding shares)[3] for an aggregate total
of approximately $217.7 million.
-- During the second quarter of 2026, the Company came to the aid of 331
animals in need in the wild. The total number of animals the Company has
helped over its history is more than 43,000.
"We are pleased with the continued progress we are making across certain initiatives. Results in the second quarter were impacted, as expected, by the shift in the timing of Easter (earlier holiday meant fewer holiday days in the second quarter compared to prior year quarter) and a continued decline in international visitation. Adjusting for these impacts, attendance would have been flat for the quarter." said Marc Swanson, CEO of United Parks & Resorts Inc. "We delivered another quarter of growth in total revenue per capita, driven by continued strong in-park execution. During the quarter, we again grew in-park per capita spending to a record for the quarter."
"Looking ahead, we continue to see strength in our forward indicators for Discovery Cove and our group business with advanced bookings revenue for both up double-digits versus prior year. We continued to repurchase shares in the second quarter buying approximately 3.3 million shares for nearly $125 million. These buybacks emphasize our strong cash flow generation, our longstanding commitment to returning excess cash to our shareholders and our belief that our shares are materially undervalued. While we faced first-half headwinds across international visitation, weather impacts and holiday shifts, we are fully focused on executing against our strategic priorities and driving growth in revenue, Adjusted EBITDA, and total shareholder value," continued Swanson.
"Our exciting summer event lineup continues for the next several weeks as we close out the season with Red, White & BBQ at SeaWorld Orlando and SeaWorld San Antonio, Summer Spectacular at SeaWorld San Diego, and Bier Fest Brews & BBQ at both Busch Gardens Tampa Bay and Busch Gardens Williamsburg. In September, we will kick off our award-winning Halloween events, which will run through October, followed by our Christmas celebrations in November and December. These seasonal offerings continue to resonate with our guests, and we're excited to introduce new intellectual property elements to our Howl O'Scream event, something we have done very little of historically but believe represents a significant opportunity for the business. This year, we have partnered with Sony Pictures to introduce popular horror films "I Know What You Did Last Summer", and "Anaconda" to our Halloween lineup at our SeaWorld and Busch Gardens parks respectively. Early forward booking ticket sales for our Howl O' Scream events are already running ahead of last year across our parks. I want to thank all of our ambassadors for their hard work and dedicated efforts to produce these events and deliver memorable guest experiences," concluded Swanson.
([1]) This earnings release includes Adjusted EBITDA, Covenant Adjusted EBITDA
and Free Cash Flow which are financial measures that are not calculated in
accordance with Generally Accepted Accounting Principles in the U.S. ("GAAP").
See "Statement Regarding Non-GAAP Financial Measures and Key Performance
Metrics" section and the financial statement tables for the definitions of
Adjusted EBITDA, Covenant Adjusted EBITDA and Free Cash Flow and the
reconciliation of these measures for historical periods to their respective
most comparable financial measures calculated in accordance with GAAP.
([2]) This earnings release includes key performance metrics such as total
revenue per capita, admissions per capita and in-park per capita spending. See
"Statement Regarding Non-GAAP Financial Measures and Key Performance Metrics"
section for definitions and further details.
([3]) As of February 24, 2026.
Second Quarter 2026 Results
In the second quarter of 2026, the Company hosted approximately 6.1 million guests, generated total revenues of $483.3 million, net income of $63.3 million and Adjusted EBITDA of $195.5 million. Attendance decreased approximately 179,000 guests when compared to the second quarter of 2025. The decrease in attendance was primarily due to an unfavorable calendar shift including the timing of the Easter holiday and a decrease in international visitation compared to the same prior year quarter.
The decrease in total revenue of $6.9 million compared to the second quarter of 2025 was primarily a result of a decrease in attendance, partially offset by an increase in total revenue per capita. Admission per capita decreased primarily due to the net impact of the admissions product mix when compared to the same prior year quarter. In park per capita spending increased primarily due to higher penetration and the impact of pricing initiatives compared to the same prior year quarter. Adjusted EBITDA was negatively impacted by a decrease in total revenue and an increase in operating expenses.
For the Three Months Ended June 30, Change
--------------------------------------
2026 2025 %
------------------ ------------------ ------
(Unaudited,
in millions,
except per
share and per
capita
amounts)
Total revenues $ 483.3 $ 490.2 (1.4)%
Net income $ 63.3 $ 80.1 (21.0)%
Net earnings
per share,
diluted $ 1.34 $ 1.45 (7.6)%
Adjusted
EBITDA $ 195.5 $ 206.3 (5.2)%
Net cash
provided by
operating
activities $ 170.0 $ 181.2 (6.2)%
Attendance 6.06 6.23 (2.9)%
Total revenue
per capita $ 79.82 $ 78.64 1.5%
Admission per
capita $ 40.31 $ 41.03 (1.8)%
In-Park per
capita
spending $ 39.51 $ 37.61 5.1%
First Six Months 2026 Results
In the first six months of 2026, the Company hosted approximately 9.3 million guests, generated total revenues of $761.6 million, net income of $29.2 million and Adjusted EBITDA of $253.4 million. Attendance decreased approximately 350,000 guests when compared to the first six months of 2025. The decrease in attendance was primarily due to unfavorable weather conditions versus prior year, a decline in visitation from international markets, and the Easter holiday shift compared to the first six months of 2025.
The decrease in total revenue of $15.5 million compared to the first six months of 2025 was primarily a result of a decrease in attendance, partially offset by an increase in total revenue per capita. Admission per capita decreased primarily due to the net impact of the admissions product mix when compared to the first six months of 2025. In park per capita spending increased primarily due to penetration and the impact of pricing initiatives compared to the first six months of 2025. Adjusted EBITDA was negatively impacted by a decrease in total revenue.
For the Six Months Ended June 30, Change
--------------------------------------
2026 2025 %
------------------ ------------------ ------
(Unaudited,
in millions,
except per
share and per
capita
amounts)
Total revenues $ 761.6 $ 777.2 (2.0)%
Net income $ 29.2 $ 64.0 (54.4)%
Net earnings
per share,
diluted $ 0.60 $ 1.15 (47.8)%
Adjusted
EBITDA $ 253.4 $ 273.7 (7.4)%
Net cash
provided by
operating
activities $ 236.8 $ 206.9 14.4%
Attendance 9.28 9.63 (3.6)%
Total revenue
per capita $ 82.11 $ 80.74 1.7% Admission per capita $ 42.21 $ 42.79 (1.4)% In-Park per capita spending $ 39.90 $ 37.95 5.1%
Share Repurchases
In the second quarter, the Company repurchased approximately 3.3 million shares for an aggregate total of approximately $125 million. For the first half of the year, the Company repurchased approximately 5.9 million shares (or 12.1% of total outstanding shares) for an aggregate total of approximately $217.7 million.
Rescue Efforts
In the second quarter of 2026, the Company came to the aid of 331 animals in need in the wild. The total number of animals the Company has helped over its history is more than 43,000.
The Company is one of the largest marine animal rescue organizations in the world. Working in partnership with state, local and federal agencies, the Company's rescue teams are on call 24 hours a day, seven days a week, 365 days a year. Consistent with its mission to protect animals and their ecosystems, rescue teams mobilize and often travel hundreds of miles to help ill, injured, orphaned or abandoned wild animals in need of the Company's expert care, with the goal of returning them to their natural habitat.
Conference Call
The Company will hold a conference call today, Tuesday, August 4, 2026, at 9 a.m. Eastern Time to discuss its second quarter and first six months of fiscal 2026 financial results. The conference call will be broadcast live on the Internet and the release and conference call can be accessed via the Company's website at www.UnitedParksInvestors.com. For those unable to participate in the live webcast, a replay will be available beginning at approximately 12 p.m. Eastern Time on August 4, 2026, under the "Events & Presentations" tab of www.UnitedParksInvestors.com. A replay of the call can also be accessed telephonically from 12 p.m. Eastern Time on August 4, 2026, through 11:59 p.m. Eastern Time on August 11, 2026, by dialing (800) 770-2030 from anywhere in the U.S. or Canada, or (609) 800-9909 from international locations and entering the conference code 5841517.
Statement Regarding Non-GAAP Financial Measures
This earnings release and accompanying financial statement tables include several non-GAAP financial measures, including Adjusted EBITDA, Covenant Adjusted EBITDA and Free Cash Flow. Adjusted EBITDA, Covenant Adjusted EBITDA and Free Cash Flow are not recognized terms under GAAP, should not be considered in isolation or as a substitute for a measure of financial performance or liquidity prepared in accordance with GAAP and are not indicative of net income or loss or net cash provided by operating activities as determined under GAAP.
Adjusted EBITDA, Covenant Adjusted EBITDA, Free Cash Flow and other non-GAAP financial measures have limitations that should be considered before using these measures to evaluate a company's financial performance or liquidity. Adjusted EBITDA, Covenant Adjusted EBITDA and Free Cash Flow as presented, may not be comparable to similarly titled measures of other companies due to varying methods of calculation.
Management believes the presentation of Adjusted EBITDA is appropriate as it eliminates the effect of certain non-cash and other items not necessarily indicative of the Company's underlying operating performance. Management uses Adjusted EBITDA in connection with certain components of its executive compensation program. In addition, investors, lenders, financial analysts and rating agencies have historically used EBITDA-related measures in the Company's industry, along with other measures, to estimate the value of a company, to make informed investment decisions and to evaluate companies in the industry.
Management believes the presentation of Covenant Adjusted EBITDA for the last twelve months is appropriate as it provides additional information to investors about the calculation of, and compliance with, certain financial covenants in the Company's credit agreement governing its Senior Secured Credit Facilities and the indentures governing its Senior Notes and First-Priority Senior Secured Notes (collectively, the "Debt Agreements"). Covenant Adjusted EBITDA is a material component of these covenants.
Management believes that Free Cash Flow is useful to investors, equity analysts and rating agencies as a liquidity measure. The Company uses Free Cash Flow to evaluate its ability to generate cash flow from business operations. Free Cash Flow does not represent the residual cash flow available for discretionary expenditures, as it excludes certain expenditures such as mandatory debt service requirements, which are significant. Free Cash Flow is not defined by GAAP and should not be considered in isolation or as an alternative to net cash provided by (used in) operating, investing and financing activities or other financial data prepared in accordance with GAAP. Free Cash Flow as defined above may differ from similarly titled measures presented by other companies.
This earnings release includes several key performance metrics including total revenue per capita (defined as total revenue divided by attendance), admission per capita (defined as admissions revenue divided by attendance) and in-park per capita spending (defined as food, merchandise and other revenue divided by attendance). These performance metrics are used by management to assess the operating performance of its parks on a per attendee basis and to make strategic operating decisions. Management believes the presentation of these performance metrics is useful and relevant for investors as it provides investors the ability to review financial performance in the same manner as management and provides investors with a consistent methodology to analyze revenue between periods on a per attendee basis. In addition, investors, lenders, financial analysts and rating agencies have historically used similar per-capita related performance metrics to evaluate companies in the industry.
About United Parks & Resorts Inc.
United Parks & Resorts Inc. (NYSE: PRKS) is a global theme park and entertainment company that owns or licenses a diverse portfolio of award-winning park brands and experiences, including SeaWorld$(R)$, Busch Gardens(R), Discovery Cove, Sesame Place(R), Water Country USA, Adventure Island, and Aquatica(R). The Company's seven world-class brands span 13 parks in seven markets across the United States and Abu Dhabi, offering experiences that matter with exhilarating thrill and family-friendly rides, coasters, and experiences, inspiring up-close and educational presentations with wildlife, and other various special events throughout the year. In addition, the Company collectively cares for one of the largest zoological collections in the world, is a global leader in animal welfare, training, and veterinary care, and is one of the leading marine animal rescue organizations in the world with a legacy of rescuing and caring for animals that spans over 60 years, including coming to the aid of over 43,000 animals in need. To learn more, visit www.UnitedParks.com.
Copies of this and other news releases as well as additional information about United Parks & Resorts Inc. can be obtained online at www.unitedparks.com. Shareholders and prospective investors can also register to automatically receive the Company's press releases, SEC filings and other notices by e-mail by registering at that website.
Forward-Looking Statements
In addition to historical information, this press release contains statements relating to future results (including certain projections and business trends) that are "forward-looking statements" within the meaning of the federal securities laws. The Company generally uses the words such as "might," "will," "may," "should," "estimates," "expects," "continues," "contemplates," "anticipates," "projects," "plans," "potential," "predicts," "intends," "believes," "forecasts," "future," "guidance," "targeted," "goal" and variations of such words or similar expressions in this press release and any attachment to identify forward-looking statements. All statements, other than statements of historical facts included in this press release, including statements concerning plans, objectives, goals, expectations, beliefs, business strategies, future events, business conditions, results of operations, financial position, business outlook, earnings guidance, business trends and other information are forward-looking statements. The forward-looking statements are not historical facts, and are based upon current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond management's control. All expectations, beliefs, estimates and projections are expressed in good faith and the Company believes there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, estimates and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond management's control, that could cause actual results to differ materially from the forward-looking statements contained in this press release, including among others: various factors beyond our control adversely affecting attendance and guest spending at our theme parks, including, but not limited to, weather, natural disasters, labor shortages, inflationary pressures, supply chain delays or shortages, foreign exchange rates, consumer confidence, the potential spread of travel-related health concerns including pandemics and epidemics, travel related concerns, adverse general economic related factors including increasing interest rates, economic uncertainty, and recent geopolitical events outside of the United States, and governmental actions;