United Parks & Resorts Reports Revenue Decline in Q2 2025

United Parks & Resorts Inc. reported a decline in financial performance for the second quarter of 2025, with total revenues of $490.2 million, down 1.5% from $497.6 million in the same period last year. The decrease was primarily driven by a 3.1% drop in admissions revenue, which fell to $255.7 million from $264.0 million. Despite this, food, merchandise, and other revenue saw a slight increase of 0.4%, reaching $234.5 million. The company's net income for the quarter was $80.1 million, a decrease of 12.1% compared to $91.1 million in the prior year.

In the first half of 2025, United Parks & Resorts experienced a similar trend, with total revenues of $777.2 million, down 2.2% from $795.0 million in the first half of 2024. Admissions revenue for the six-month period decreased by 4.2% to $411.9 million, while food and merchandise revenue remained relatively stable at $365.3 million. The company reported a net income of $64.0 million for the first half, a 20.0% decline from $79.9 million in the previous year.

Operationally, the company reported a slight increase in attendance, with 6.2 million guests visiting its parks in the second quarter, up 0.8% from the previous year. However, the average admission per capita decreased to $41.03, down from $42.68, reflecting lower pricing on certain admission products. In-park spending also saw a minor decline, with per capita spending at $37.61 compared to $37.76 in the prior year. The company attributed these changes to adverse weather conditions and a shift in holiday schedules that impacted attendance.

Strategically, United Parks & Resorts has been focusing on cost management and operational efficiency. The company reported an increase in operating expenses, primarily due to higher non-cash self-insurance adjustments. Additionally, the company has been actively involved in share repurchase programs, having repurchased 100,000 shares for approximately $4.6 million in the first half of 2025. The company maintains a strong liquidity position, with cash and cash equivalents totaling $193.9 million as of June 30, 2025, and believes it can meet its capital expenditures and debt service obligations for the next 12 months.

Looking ahead, United Parks & Resorts anticipates continued challenges in the labor market and potential impacts from inflation and economic conditions. The company is committed to enhancing guest experiences and operational efficiencies while navigating these external pressures. The management remains optimistic about future growth opportunities, particularly through strategic initiatives and potential expansions in its theme park offerings.