NYSE: PRKS
United Parks & Resorts Inc.CIK 0001564902 · SIC 7990 · Miscellaneous Amusement & Recreation
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United Parks elects Kyle Miller as President, separates CEO/President roles; CCO Christopher Finazzo resigns
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revenue $483.3M, net income $63.3M. United Parks Q2 revenue down 1.4% as attendance falls 2.9%; buyback accelerates
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United Parks Q1 revenue falls 3% on weather, international headwinds; shares repurchased
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revenue $278.3M, net income -$34.1M. Q1 revenue falls 3% on weather, attendance; operating loss widens as buybacks surge
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Latest financial statements
From 10-Q filed Aug 7, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net revenues: | ||||
| Admissions | 244,081 | 255,740 | 391,584 | 411,855 |
| Food, merchandise and other | 239,239 | 234,472 | 370,030 | 365,306 |
| Total revenues | 483,320 | 490,212 | 761,614 | 777,161 |
| Costs and expenses: | ||||
| Cost of food, merchandise and other revenues | 38,065 | 37,173 | 59,712 | 60,132 |
| Operating expenses (exclusive of depreciation and amortization shown separately below) | 215,723 | 204,789 | 386,965 | 366,059 |
| Selling, general and administrative expenses | 66,591 | 64,402 | 114,659 | 108,539 |
| Severance and other separation costs | 45 | 408 | 808 | 408 |
| Depreciation and amortization | 45,786 | 42,974 | 90,853 | 84,669 |
| Total costs and expenses | 366,210 | 349,746 | 652,997 | 619,807 |
| Operating income | 117,110 | 140,466 | 108,617 | 157,354 |
| Other expense (income), net | 17 | 216 | (217) | 193 |
| Interest expense | 32,394 | 33,951 | 64,129 | 68,058 |
| Income before income taxes | 84,699 | 106,299 | 44,705 | 89,103 |
| Provision for income taxes | 21,430 | 26,191 | 15,504 | 25,128 |
| Net income | 63,269 | 80,108 | 29,201 | 63,975 |
| Earnings per share: | ||||
| Earnings per share, basic | 1.36 | 1.46 | 0.61 | 1.16 |
| Earnings per share, diluted | 1.34 | 1.45 | 0.60 | 1.15 |
| Weighted average common shares outstanding: | ||||
| Basic | 46,674 | 54,991 | 48,040 | 55,005 |
| Diluted | 47,168 | 55,411 | 48,525 | 55,436 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 19,076 | 99,762 |
| Accounts receivable, net | 100,326 | 77,287 |
| Inventories | 58,930 | 51,628 |
| Prepaid expenses and other current assets | 65,396 | 54,117 |
| Total current assets | 243,728 | 282,794 |
| Property and equipment, at cost | 4,265,233 | 4,136,832 |
| Accumulated depreciation | (2,296,684) | (2,219,562) |
| Property and equipment, net | 1,968,549 | 1,917,270 |
| Goodwill | 66,278 | 66,278 |
| Trade names/trademarks, net | 157,846 | 157,846 |
| Right of use assets-operating leases | 138,883 | 125,410 |
| Deferred tax assets, net | 5,673 | 2,478 |
| Other assets, net | 60,523 | 64,198 |
| Total assets | 2,641,480 | 2,616,274 |
| Liabilities and Stockholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 194,568 | 152,939 |
| Current maturities of long-term debt | 15,423 | 15,423 |
| Operating lease liabilities | 3,254 | 4,216 |
| Accrued salaries, wages and benefits | 28,247 | 27,046 |
| Deferred revenue | 211,896 | 143,325 |
| Other accrued liabilities | 56,450 | 41,783 |
| Total current liabilities | 509,838 | 384,732 |
| Long-term debt, net | 2,262,148 | 2,217,708 |
| Long-term operating lease liabilities | 125,834 | 110,926 |
| Deferred tax liabilities, net | 274,026 | 258,492 |
| Other liabilities | 86,655 | 80,222 |
| Total liabilities | 3,258,501 | 3,052,080 |
| Commitments and contingencies (Note 8) | ||
| Stockholders’ Deficit: | ||
| Preferred stock, $0.01 par value—authorized, 100,000,000 shares, no shares issued or outstanding at June 30, 2026 and December 31, 2025 | — | — |
| Common stock, $0.01 par value—authorized, 1,000,000,000 shares; 97,447,598 and 97,330,004 shares issued at June 30, 2026 and December 31, 2025, respectively | 974 | 973 |
| Additional paid-in capital | 755,139 | 745,789 |
| Retained earnings | 835,150 | 805,949 |
| Treasury stock, at cost (52,116,919 and 46,236,087 shares at June 30, 2026 and December 31, 2025) | (2,208,284) | (1,988,517) |
| Total stockholders’ deficit | (617,021) | (435,806) |
| Total liabilities and stockholders’ deficit | 2,641,480 | 2,616,274 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net income | 29,201 | 63,975 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 90,853 | 84,669 |
| Amortization of debt issuance costs and discounts | 2,152 | 2,217 |
| Deferred income tax provision | 12,339 | 19,396 |
| Equity-based compensation | 10,167 | 8,096 |
| Other, including loss on sale or disposal of assets, net | 13,245 | 12,994 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (24,443) | (17,875) |
| Inventories | (7,183) | (7,689) |
| Prepaid expenses and other current assets | (9,624) | (23,978) |
| Accounts payable and accrued expenses | 30,714 | 6,398 |
| Accrued salaries, wages and benefits | 1,201 | 1,582 |
| Deferred revenue | 75,264 | 58,019 |
| Other accrued liabilities | 10,305 | 1,576 |
| Right of use assets and operating lease liabilities | 473 | 209 |
| Other assets and liabilities | 2,138 | (2,678) |
| Net cash provided by operating activities | 236,802 | 206,911 |
| Investing Activities: | ||
| Capital expenditures | (138,183) | (110,464) |
| Net cash used in investing activities | (138,183) | (110,464) |
| Financing Activities: | ||
| Repayments of long-term debt | (7,712) | (7,711) |
| Proceeds from draws on revolving credit facility | 150,000 | — |
| Repayments of revolving credit facility | (100,000) | — |
| Purchase of treasury stock | (220,280) | (9,195) |
| Payment of tax withholdings on equity-based compensation through shares withheld | (1,113) | (1,178) |
| Exercise of stock options | 297 | 395 |
| Other financing activities | (497) | (730) |
| Net cash used in financing activities | (179,305) | (18,419) |
| Change in Cash and Cash Equivalents | (80,686) | 78,028 |
| Cash and Cash Equivalents—Beginning of period | 99,762 | 115,893 |
| Cash and Cash Equivalents—End of period | 19,076 | 193,921 |
| Supplemental Disclosure of Noncash Investing and Financing Activities | ||
| Capital expenditures in accounts payable | 50,040 | 44,431 |
| Excise tax accrued on treasury stock repurchases | 2,111 | — |
| Right of use assets obtained in exchange for new operating lease liabilities | 15,783 | — |
| Cash paid for income taxes, net | 4,227 | 14,720 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share amounts); (In thousands, except share and per share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗