Pursuit Attractions and Hospitality (DIL1) Q2 2026 Earnings Report

The call presented strong top-line momentum (14% revenue growth to a record quarter), improving adjusted EBITDA and net income, successful strategic transactions (Tabacon performance and Eagle Wing acquisition), a fortified balance sheet (pro forma net leverage ~1x and ~$220M liquidity), and a robust organic and M&A pipeline with Vision 2030 targets. Near-term challenges include weather- and smoke-driven softness in attraction visitation, about 90 basis points of margin compression in Q2 due to mix shift toward lodging, FX headwinds (~$2M), and timing/contingency risk on large multi-year capital projects. On balance, the company emphasized positive demand indicators, raised full-year adjusted EBITDA guidance, and highlighted strong execution and financial flexibility.

The company raised its full‑year 2026 guidance, now targeting adjusted EBITDA of $128 million to $138 million (implying about 14% year‑over‑year growth at the midpoint), a $5 million increase versus prior guidance driven roughly by ~$6 million of incremental Flyover contribution prior to its sale, ~$1–2 million from the Eagle Wing acquisition, and partially offset by about a $2 million FX headwind; Q2 revenue was a record $133.5 million (+14% YoY) with adjusted EBITDA of $32.7 million (+$3.0 million YoY) and adjusted net income of $14.0 million (vs. $10.1 million), while H1 same‑store effective attraction ticket price rose 6% and same‑store lodging RevPAR rose 9%, Q2 attraction ticket revenue was $55 million (+3% YoY) and Q2 room revenue was $33 million (+27% YoY), lodging pace and bookings remain ahead of last year, pro forma net leverage at June 30 is ~1x with ~ $220 million of pro forma liquidity, and the company continues to cite long‑term targets (Vision 2030) of delivering over $265 million of adjusted EBITDA by 2030.