Q1 revenue falls 3% on weather, attendance; operating loss widens as buybacks surge to $93.8M

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~1 min read

Key Changes

• high

  Operating results swung to an $8.5M loss from $16.9M income in Q1 2025, driven by 5% attendance decline (171,000 guests) due to unfavorable weather and lower international visitation, plus $10M higher operating expenses including $3.7M in self-insurance adjustments and $2.8M in non-recurring consulting costs.

  MD&A: Operating Results verify on EDGAR →
• high

  Share repurchases accelerated to $93.8M from $4.6M in Q1 2025, funded by a $30M draw on the revolving credit facility, despite the wider operating loss and 14% decline in Adjusted EBITDA to $58.0M.

  MD&A: Cash Flows verify on EDGAR →
• high

  Net loss more than doubled to $34.1M from $16.1M, reflecting the operating swing and a lower tax benefit (effective rate rose to 14.8% from 6.2% due to state filing changes).

  MD&A: Net Loss verify on EDGAR →