United Parks & Resorts reported lower attendance, revenue and earnings in the third quarter, as unfavorable weather, calendar effects and international attendance weakness weighed on visits. Higher spending per guest helped cushion the decline: revenue per capita rose, led by stronger in-park spending and improved admissions pricing.
The SeaWorld and other theme-park operator also pointed to stronger pass sales and forward bookings, which it said support its outlook for growth in 2027 and beyond.
Third-quarter results
- Attendance was 6.5 million, down about 300,000 guests, or 4.7%, from a year earlier.
- Revenue fell 1.1% to $506.5 million. Net income declined 10.5% to $80.0 million.
- Adjusted EBITDA, a company-reported measure of operating performance, decreased 5.1% to $205.1 million.
- Total revenue per guest increased 3.8% to $78.29. Admission spending per guest rose 3.4% to $40.90, while in-park spending climbed 4.4% to a record $37.39.
- Chief Executive Marc Swanson said weather, calendar effects and international headwinds reduced attendance by about 325,000 visits. He said attendance would have increased without those effects. A planned reduction in promotional admission products also reduced visits by more than 100,000.
First nine months
- Attendance was 15.7 million, down about 700,000 guests, or 4.1%, from the same period in 2025.
- Revenue declined 1.6% to $1.268 billion. Net income fell 28.8% to $109.2 million, and adjusted EBITDA decreased 6.4% to $458.6 million.
- Revenue per guest rose 2.6% to $80.54. Admission spending per guest increased 0.5% to $41.68, while in-park spending grew 4.8% to a record $38.86.
Pass sales and outlook
- Total pass sales in the third quarter were up nearly 8%, and the company said its paid pass base was positive as of October 31. Its pass base for 2027 was up more than 15% on that date.
- Despite continued poor weather in October, projected revenue for the month was higher than a year earlier. The company also reported meaningful year-over-year growth at its separately ticketed Howl-O-Scream events on days not affected by weather.
- Forward bookings for 2027 at Discovery Cove and in the group business were each running at double-digit percentage growth versus the same point a year earlier.
- Swanson said the company sees a path to significantly higher attendance, revenue, adjusted EBITDA and free cash flow in 2027 and beyond. The company plans to launch its holiday event lineup, with new and improved elements across its parks.
Other company activity
United Parks said it helped 237 animals in the wild during the quarter, bringing the total it has helped over its history to more than 43,000.
What the results show
Higher spending per guest partly offset fewer visits, but revenue and adjusted EBITDA still declined in the quarter. The nine-month figures show a larger drop in net income than in revenue or adjusted EBITDA. The company’s stated growth case rests on improved guest spending, pass sales and forward bookings, alongside a recovery in attendance.