Theme park operator United Parks & Resorts (NYSE: PRKS) will be reporting earnings tomorrow before market hours. Here’s what you need to know.
United Parks & Resorts beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $384.4 million, down 1.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates. It reported 4.88 million visitors, down 1.6% year on year.
Is United Parks & Resorts a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting United Parks & Resorts’s revenue to decline 1.1% year on year to $294.1 million, a reversal from the 1.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.16 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. United Parks & Resorts has missed Wall Street’s revenue estimates four times over the last two years.
Looking at United Parks & Resorts’s peers in the leisure facilities segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Live Nation’s revenues decreased 11% year on year, missing analysts’ expectations by 2.8%, and Planet Fitness reported revenues up 11.5%, falling short of estimates by 1.2%. Live Nation traded up 1.9% following the results while Planet Fitness was down 8.8%.
Read our full analysis of Live Nation’s results here and Planet Fitness’s results here.
There has been positive sentiment among investors in the leisure facilities segment, with share prices up 9% on average over the last month. United Parks & Resorts is up 10.5% during the same time and is heading into earnings with an average analyst price target of $57.42 (compared to the current share price of $47.18).
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