United Parks Q1 Misses Estimates as Attendance Slips, But Optimism Remains for 2025

United Parks & Resorts Inc. (NYSE:PRKS) reported a disappointing Q1 2025, missing both top- and bottom-line estimates and weighing on its premarket performance.

Q1 2025 Financial Highlights

• Net Loss: $16.1 million (-$0.29/share) vs. -$11.2 million (-$0.17/share) LY; consensus expected -$0.21/share.

• Revenue: $286.9 million, down 3.5% YoY vs. $295.8 million expected.

• Attendance: 3.39 million guests, -1.7% YoY, hurt by Easter and Spring Break shifting into Q2.

• Per Capita Spend: +1.1%, a record high and the 19th increase in 20 quarters.

Despite the calendar headwind, CEO Marc Swanson highlighted “strong bookings trends” and new attractions poised to drive full-year growth.

Why the Shortfall?

1. Holiday Timing Shift: Easter and Spring Break moved largely into April, pulling a material chunk of attendance (and admission revenue) into Q2.

2. Lower Admission Yield: Core ticket revenue dipped, only partially offset by higher ancillary spending (F&B, merchandise, etc.).

3. Fixed Cost Leverage: Theme parks' high operating leverage magnifies revenue misses into deeper losses.

Keeping Track of Filings & Guidance

Stakeholders should review United Parks' detailed Q1 results and management commentary in its 10-Q filing. You can access the official report and future updates via the SEC Filings API, which provides immediate access to all of PRKS's regulatory disclosures:
View United Parks' latest SEC filings

What's Next

• Q2 Performance: Spring Break and Easter revenue now front-loaded into Q2—expect stronger sequential growth.

• New Attractions: Monitor early attendance and spend uplift from park additions later this year.

• Full-Year Outlook: Management still projects record revenue and adjusted EBITDA for 2025; validate these targets against upcoming quarterly earnings calls.

By pairing the SEC Filings API's real-time access with quarterly earnings commentary, investors can stay aligned with United Parks' recovery trajectory and management's evolving guidance.