The persistent revenue and attendance declines, combined with a second consecutive significant EPS miss, suggest the company's operational challenges are not transitory. Traders should watch for potential downward revisions to forward estimates and monitor the upcoming Q3 peak season for any signs of a turnaround, as the current trajectory points to continued fundamental weakness.
Price Chart
Executive Summary
United Parks & Resorts reported Q2 2026 results that missed consensus estimates significantly, with EPS of $1.34 falling 30.7% short of the $1.93 consensus and revenue of $483.3M missing the $491.8M estimate. Revenue declined 1.4% YoY, net income dropped 21.0%, and attendance fell 2.9%, driven by an unfavorable Easter calendar shift and continued international visitation weakness. The company repurchased $125M in shares during the quarter, but the persistent top-line and earnings deterioration, following a weak Q1, signals ongoing operational headwinds and a lack of fundamental improvement heading into the peak summer season.
Key Financial Metrics
Key Facts
- Q2 2026 revenue was $483.3M, down 1.4% YoY from $490.2M and below the $491.8M consensus.
- GAAP diluted EPS was $1.34, down 7.6% YoY from $1.45 and a 30.7% miss vs the $1.93 consensus estimate.
- Attendance fell 2.9% to 6.1 million guests, with management citing an unfavorable Easter shift and lower international visitation.
- Net income declined 21.0% to $63.3M from $80.1M in the prior-year quarter.
- Adjusted EBITDA fell 5.2% to $195.5M from $206.3M.
- The company repurchased 3.3 million shares for ~$125M in Q2, and 5.9 million shares (12.1% of outstanding) YTD for ~$217.7M.
- First-half 2026 revenue was $761.6M (down 2.0%), net income was $29.2M (down 54.4%), and Adjusted EBITDA was $253.4M (down 7.4%).
- Total debt increased to $2.29B from $2.25B at year-end 2025, with stockholders' deficit widening to -$617M from -$436M.
Financial Impact
Revenue miss of ~$8.5M vs consensus; EPS miss of $0.59 vs consensus; net income decline of $16.8M YoY
Risk Factors
- Continued decline in attendance due to weather, calendar shifts, or international visitation trends.
- Inability to offset lower attendance with higher per-capita spending, leading to further revenue and EBITDA compression.
- Elevated leverage (total debt $2.29B) and widening stockholders' deficit could pressure credit metrics and equity valuation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-331457 |
| Document: prks-20260804.htm | 0001193125-26-331457 |
| Document: 0001193125-26-331457-index-headers.html | 0001193125-26-331457 |
| Document: 0001193125-26-331457-index.html | 0001193125-26-331457 |
| Document: 0001193125-26-331457.txt | 0001193125-26-331457 |
| 8-K Data (Synthetic) | 0001193125-26-331457 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 5w ago | 8-K | $32.81 $32.40 | ▼ −1.25% | ▼ −0.57% | $31.47 (−4.08%) |
Aug 26, 2026 8w ago | Court Ruling | $42.49 $40.61 | ▼ −4.42% | ▼ −4.69% | $31.47 (−25.94%) |
Aug 4, 2026 12w ago | 8-K | $46.17 $44.14 | ▲ +4.40% | ▲ +4.30% | $31.47 (+31.84%) |
May 11, 2026 24w ago | 8-K | $36.53 $36.16 | ▲ +1.01% | ▲ +0.93% | $31.47 (+13.85%) |
Apr 30, 2026 25w ago | DEFA14A | $35.27 $39.22 | ▲ +11.20% | ▲ +8.85% | $31.47 (−10.77%) |
Feb 26, 2026 34w ago | 8-K | $36.00 $35.17 | ▲ +2.31% | ▲ +1.18% | $31.47 (+12.58%) |
US Market Status
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