United Parks & Resorts, a prominent theme-park operator known for parks such as SeaWorld and Busch Gardens, experienced a decline in revenue during the fourth quarter. Despite an increase in attendance, the company reported a profit of $40.1 million, or 62 cents per share, compared to $49 million, or 76 cents per share, in the same period last year. This came in below analysts’ expectations of 81 cents per share.
Factors Contributing to the Decline
Revenue dipped by 0.4% to $389 million, falling short of the anticipated $396.4 million. The decrease in revenue per capita, primarily driven by a 2.6% drop in admissions revenue per capita, played a significant role in this decline. However, there was a slight offset from a 1.5% increase in in-park spending per capita.
Setbacks Faced by United Parks & Resorts
CEO Marc Swanson highlighted that adverse weather conditions in Florida and an unfavorable calendar shift led to a decrease in attendance by approximately 75,000 visitors during the quarter. Furthermore, he mentioned that overall attendance for the year remained below 2019 levels due to the absence of international and group visitors.
Despite these challenges, United Parks & Resorts continues to strive towards enhancing visitor experience and boosting revenue in the upcoming quarters.
