United Parks & Resorts Inc. reported a decline in financial performance for the first quarter of 2025, with total revenues of $286.9 million, down 3.5% from $297.4 million in the same period last year. The decrease was primarily driven by a 5.8% drop in admissions revenue, which fell to $156.1 million from $165.8 million. The company also experienced a slight decrease in attendance, with 3.39 million guests visiting its parks compared to 3.45 million in the prior year. The decline in attendance was attributed to a calendar shift that moved Easter and Spring Break holidays from the first quarter to the second quarter, impacting guest visits during the period.
Despite the revenue decline, the company managed to reduce its total costs and expenses by 1.9%, from $275.3 million to $270.1 million. This reduction was largely due to lower selling, general, and administrative expenses, which decreased by 7.8% to $44.1 million. However, the company reported a net loss of $16.1 million, compared to a loss of $11.2 million in the same quarter of 2024, reflecting a 44% increase in losses year-over-year. The loss per share also increased to $0.29 from $0.17.
In terms of operational developments, United Parks & Resorts has been focusing on strategic initiatives to enhance guest experiences and streamline operations. The company has been actively involved in addressing labor market challenges, which have led to turnover and hiring difficulties in certain positions. Additionally, the company has seen increased union organizing activities, which may impact operations and guest experiences. The management is also exploring cost-saving opportunities through technology initiatives and operational reviews.
Looking ahead, United Parks & Resorts remains optimistic about its future performance, citing expectations for improved attendance and revenue in the upcoming quarters, particularly as the Easter and Spring Break holidays return to the first quarter in 2026. The company believes that its cash flow from operations, along with available borrowings under its revolving credit facility, will be sufficient to meet its liquidity needs for the next 12 months. The company continues to evaluate its capital expenditures and operational strategies to adapt to changing market conditions and enhance profitability.
About United Parks & Resorts Inc.
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