United Parks & Resorts Overcomes Unfavorable Weather and International Attendance Declines, Maintains Confidence in 2026 Growth
United Parks & Resorts, a leading player in the theme park industry, has reported its first quarter 2026 earnings, showcasing resilience in the face of unfavorable weather conditions and international attendance declines. Despite these headwinds, the company maintains confidence in its ability to drive growth in revenue and adjusted EBITDA for the year.
According to Marc Swanson, Chief Executive Officer, the company's first quarter results fell short of expectations due to unfavorable weather in key markets such as San Diego and Florida, which negatively impacted attendance by approximately 140,000 guests. Additionally, a decline in international visitation resulted in an additional loss of around 80,000 guests.
However, adjusting for these impacts, attendance would have increased more than 1% for the quarter, indicating a strong underlying performance. The company's in-park execution was also a highlight, with record results achieved in terms of in-park per capita spending. Furthermore, paid pass sales were up approximately 10% during the quarter and 12% through April 30, 2026, demonstrating strong demand for the company's passes.
Looking ahead, United Parks & Resorts is optimistic about its advanced bookings revenue for Discovery Cove and group business, which are currently outpacing 2025 levels. The company continues to believe that its stock is materially undervalued, a sentiment echoed by its decision to repurchase shares in the first quarter, amounting to approximately $93 million.
As the summer season approaches, United Parks & Resorts is poised to launch a range of new rides, shows, and attractions, as well as an updated events calendar, expanded concert lineup, and upgraded food and retail locations. These investments are expected to drive attendance and guest spending across its parks. Despite current macro uncertainties and gas prices, the company remains committed to delivering strong financial performance and growth in revenue and adjusted EBITDA for 2026.
United Parks & Resorts' Chief Executive Officer, Marc Swanson, emphasized the importance of preparation and hard work by the company's ambassadors as they navigate the busy summer period. The company acknowledges the current realities of geopolitical and macro uncertainties but remains confident in its ability to overcome these challenges.
