United Parks & Resorts reports Q1 EPS (17c), consensus (26c)

Reports Q1 revenue $297.4M, consensus $286.87M. Attendance was 3.5M guests. Total revenue per capita increased 1.2% and in-park per capita spending increased 4%. “We are pleased to report record financial results this quarter including record revenue and Adjusted EBITDA,” said Marc Swanson, Chief Executive Officer of United Parks & Resorts Inc. “While attendance in the quarter benefited from a positive calendar shift, including the shift of the Easter holiday into the last day of the first quarter from the second quarter in prior year, this benefit was almost entirely offset by unusually wet and cold weather during the quarter, particularly on certain peak attendance days and mainly in our Florida parks. In-park per capita revenue, excluding the impact of certain one-time revenue, increased 4.0% during the quarter representing the 16th consecutive quarter of growth.”