United Parks & Resorts Inc. (NYSE:PRKS) shares fell more than 2% in premarket trading on Monday after the theme park operator reported first-quarter results that missed Wall Street expectations on both earnings and revenue.
The company cited unfavorable weather conditions and weaker international tourism as key factors behind the softer performance.
Revenue and Earnings Come in Below Forecasts
United Parks reported an adjusted first-quarter loss of $0.69 per share, significantly wider than analyst expectations for a loss of $0.34 per share.
Quarterly revenue declined 3.0% year-over-year to $278.3 million from $286.9 million, missing the consensus estimate of $280.81 million.
Net loss widened to $34.1 million during the quarter, compared with $16.1 million in the same period last year.
Adjusted EBITDA also declined, falling 14.1% to $58.0 million from $67.4 million in the first quarter of 2025.
Attendance Drops Due to Weather and Reduced International Travel
Total attendance fell 5.0% year-over-year to 3.2 million visitors, representing a decline of roughly 171,000 guests.
Chief Executive Officer Marc Swanson said weather disruptions and softer international demand were the primary contributors to the attendance decline.
“Attendance in the first quarter was negatively impacted by approximately 140,000 guests due to weather and approximately 80,000 guests due to declines in international visitation,” Swanson said.
Guest Spending Reaches Record Levels
Despite weaker attendance, the company reported record in-park spending per guest during the quarter.
In-park per capita spending rose 5.3% year-over-year to $40.62.
Total revenue per capita increased 2.1% to $86.43, although admission revenue per capita slipped 0.5% to $45.81.
Company Continues Aggressive Share Repurchases
United Parks also continued repurchasing shares during the quarter.
The company bought back approximately 2.6 million shares for $92.7 million during the first quarter and repurchased an additional 1.8 million shares for $64.8 million through May 8, 2026.