United Parks & Resorts Inc (PRKS) News & EventsPRKSUnited Parks & Resorts Inc

United Parks & Resorts Reports Q2 Revenue of $483.32M

Reports Q2 revenue $483.32M, consensus $491.84M. "We are pleased with the continued progress we are making across certain initiatives. Results in the second quarter were impacted, as expected, by the shift in the timing of Easter and a continued decline in international visitation. Adjusting for these impacts, attendance would have been flat for the quarter." said Marc Swanson, CEO of United Parks & Resorts Inc. "We delivered another quarter of growth in total revenue per capita, driven by continued strong in-park execution. During the quarter, we again grew in-park per capita spending to a record for the quarter."

Guggenheim Lowers United Parks Price Target to $51

Guggenheim lowered the firm's price target on United Parks & Resorts to $51 from $54 and keeps a Buy rating on the shares after having updated the firm's Q2 outlook to reflect a number of negative trends, including overall weather that was neutral-to-slightly negative relative to last year, Orlando continuing to face tough year-over-year tourism trends and macro trends that the firm sees having modestly worsened throughout the quarter.

Citi Analyst Says July Weather Affects Six Flags Attendance

Citi says July weather got off to an uncomfortably hot start, but has since reverted closer to the mean, though the most recent headwind for theme park attendance appears to be poor air conditions stemming from Canadian wildfires. While park closures have been limited, "we can't help but think that this will be a short-term drag on attendance," the analyst tells investors in a note that also lays out the parks owned by Six Flags (FUN) or United Parks & Resorts (PRKS) that fall within the area affected by the air quality issues.