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EarningsQ2 2026 Earnings Report
PRSU Q2 2026 EPS Results
Actual EPS$0.54
Consensus EPS$0.47
Beat/MissBeat by +$0.07
One Year Ago EPS$0.20
PRSU Q2 2026 Revenue Results
Actual Revenue$133.49M
Expected Revenue$122.07M
Beat/MissBeat by +$11.42M
YoY Revenue Growth+14.35%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
PRSU Upcoming Earnings
Pursuit Attractions and Hospitality's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PRSU Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
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.Company Guidance
Record Quarterly Revenue
Revenue grew 14% year-over-year to a record $133.5 million in Q2 2026, driven primarily by strong contributions from Tabacon and continued growth across existing geographies.
Adjusted EBITDA and Net Income Improvement
Adjusted EBITDA increased by $3.0 million year-over-year to $32.7 million. Adjusted net income rose to $14.0 million from $10.1 million in the prior year (≈38.6% increase).
Raised Full-Year Adjusted EBITDA Guidance
Full-year 2026 adjusted EBITDA guidance was increased by $5 million versus prior guidance, with a new range of $128 million to $138 million and an expected year-over-year adjusted EBITDA growth of 14% at the midpoint.
Strategic M&A Activity — Eagle Wing Tours
Acquired Eagle Wing Tours (Victoria, BC) on July 14 for roughly a 6.5x adjusted EBITDA multiple; expected to contribute approximately $1–2 million of adjusted EBITDA in the second half of 2026 and expand Pursuit’s presence on Vancouver Island (~50k annual guests).
Portfolio Simplification — Sale of Noncore Flyover
Completed sale of noncore Flyover business, sharpening focus on core attractions and hospitality and improving financial flexibility (sale provided balance sheet benefits referenced in pro forma metrics).
Balance Sheet Strength and Liquidity
Pro forma net leverage ratio as of June 30 was ~1.0x (well below target range of 2.0–3.5x) and pro forma immediate liquidity was approximately $220 million, providing capacity to fund organic projects, strategic acquisitions, and opportunistic share repurchases.
Strong Hospitality Performance
Q2 room revenue totaled $33 million, a 27% year-over-year increase, driven by strong Tabacon performance and same-store ADR/occupancy improvements. Same-store RevPAR (first-half) rose 9% and same-store constant-currency RevPAR excluding Tabacon grew 10% versus 2025.
Attraction Yield Improvement
Effective attraction ticket price increased 6% on a same-store basis in the first half of 2026, helping offset softer visitation driven by weather.
Tabacon Outperformance
One year under Pursuit ownership, Tabacon delivered >20% adjusted EBITDA growth in Year 1 (trailing 12 months), driving the effective purchase multiple down to nearly 9x; continued traction from enhancements and new premium villas planned.
Large Organic Growth Pipeline with Attractive Returns
Pipeline of >$300 million in organic growth investments (2026–2030) expected to contribute >$40 million of incremental adjusted EBITDA by 2030 at an estimated effective multiple of <7x. Examples include Golden Sky Bridge expansion and Denali Backcountry relaunch (2027).
Share Repurchases
Repurchased $43 million of shares at an average price of $35.72, which management estimates represents a >40% return; approximately $57 million remaining under the $100 million authorization.
Vision 2030 Targets
Management reiterated Vision 2030 target to deliver double-digit revenue CAGR and significant EBITDA growth and margin expansion, targeting >$265 million of adjusted EBITDA by 2030 (more than double 2025 levels).
PRSU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed