United Parks & Resorts Inc. (NYSE:PRKS) shared a disappointing Q1 2025, falling short on estimates in both top-line and bottom-line performance, impacting premarket trading.

Q1 2025 Performance Recap

• Net Loss: $16.1 million (–$0.29/share) compared to –$11.2 million (–$0.17/share) last year; consensus had expected –$0.21/share.

• Revenue: Posted at $286.9 million, representing a 3.5% reduction year-over-year, falling short of the expected $295.8 million.

• Attendance: Welcomed 3.39 million guests, down 1.7% YoY due to the shift of Easter and Spring Break into Q2.

• Per Capita Spending: Recorded a +1.1% increase, a record high with nineteen consecutive quarters of growth.

Despite calendar-related setbacks, CEO Marc Swanson expressed confidence in “strong booking trends” and new attractions poised to enhance growth throughout the year.

Reasons Behind the Shortfall

1. Timing Challenges: The Easter and Spring Break holiday season shifted largely into April, pulling significant attendance (and admission revenue) into Q2.

2. Lower Admission Revenue: Core ticket revenue saw a dip, not fully compensated by increased auxiliary spending.

3. Fixed Cost Influences: Theme parks have high operational leverage, which magnifies the effects of revenue shortfalls on reported losses.

Future Monitoring

Stakeholders should refer to United Parks’ detailed Q1 results and management insights from its 10-Q filing, accessible through regulatory filings for relevant updates.

Looking Ahead

• Q2 Outlook: Spring Break and Easter revenue is now concentrated in Q2, suggesting stronger results ahead.

• New Attractions Impact: Keep an eye on early performance metrics from new rides and experiences launching later this year.

• 2025 Projections: Management remains optimistic and continues to project record revenue and adjusted EBITDA; validate against upcoming earnings calls.

By utilizing timely access to regulatory filings and results calls, investors can remain aligned with United Parks’ recovery trajectory and evolving projections.