United Parks & Resorts Inc. Reports Fiscal 2025 Results
United Parks & Resorts Inc. (NYSE: PRKS), a leading theme‑park and entertainment company, disclosed its financial results for the fourth quarter and full fiscal year 2025 on February 26 2026.
Fourth‑Quarter 2025 Highlights
| Metric | 2025 Q4 | 2024 Q4 | % Change |
|---|---|---|---|
| Attendance | 4.8 million | 4.926 million | –2.6 % |
| Total Revenue | $373.5 million | $384.3 million | –2.8 % |
| Net Income | $15.1 million | $27.9 million | –46 % |
| Adjusted EBITDA | $115.2 million | $144.5 million | –20.3 % |
| Revenue per Capita | $78.56 | $79.22 | –0.8 % |
| Admission per Capita | $42.67 | $43.69 | –2.4 % |
| In‑Park Per Capita Spending | $35.89 | $35.24 | +1.8 % |
Key points:
- Net income fell by $12.8 million, largely due to a one‑time non‑cash write‑off of bad‑debt expense totaling $7.6 million.
- Adjusted EBITDA declined by $29.3 million, reflecting the same write‑off and a 20 % drop in operating performance.
- In‑park spending per guest increased, reaching a record $35.89.
Fiscal 2025 Summary
| Metric | 2025 | 2024 | % Change |
|---|---|---|---|
| Attendance | 21.2 million | 21.6 million | –1.8 % |
| Total Revenue | $1.7 billion | $1.762 billion | –3.6 % |
| Net Income | $168.4 million | $227.5 million | –26.0 % |
| Adjusted EBITDA | $605.1 million | $700.1 million | –13.6 % |
| Revenue per Capita | $78.54 | $80.43 | –1.9 % |
| Admission per Capita | $41.73 | $43.86 | –4.9 % |
| In‑Park Per Capita Spending | $36.81 | $35.73 | +3.0 % |
Additional corporate actions:
- The company repurchased approximately 4.2 million shares of common stock, representing about 7.6 % of the total shares outstanding.
Market Context
A separate market study released on the same day projected the global amusement‑parks market to grow to $138.7 billion by 2034, at a CAGR of 6.8 % from 2024 to 2034. This expansion reflects the continued importance of amusement parks as key drivers of the tourism and leisure industry, with a focus on themed storytelling and immersive experiences.
Stock Performance
As of February 23 2026, United Parks & Resorts shares traded at $34.57 USD, within a 52‑week range of $29.62 to $56.95. The company’s price‑earnings ratio stood at 10.42, and its market capitalization was approximately $1.86 billion.
These results indicate a modest decline in revenue and profitability for 2025, with the company maintaining its focus on improving in‑park spending and continuing share‑repurchase activity amidst a growing global amusement‑park market.
