United Parks & Resorts (PRKS) stock soared 5.37% during Monday's intraday session, a notable move that came despite the company reporting first-quarter financial results that missed analyst expectations.
The theme park operator reported a wider net loss and lower revenue for Q1 2026 compared to the prior year, citing unfavorable weather and a decline in international attendance. However, the company's management expressed strong confidence that its stock is "materially undervalued" and highlighted its ongoing commitment to returning capital to shareholders.
In the earnings release, CEO Marc Swanson emphasized the company's aggressive share repurchase program, noting that 2.6 million shares were bought back for $92.7 million in the first quarter, with an additional 1.8 million shares repurchased for $64.8 million after the quarter ended. The company also pointed to positive forward indicators, including strong pass sales performance and advanced bookings revenue for key segments currently outpacing 2025 levels.