Theme park operator United Parks & Resorts (NYSE: PRKS) will be reporting earnings this Monday before the bell. Here’s what to expect.
United Parks & Resorts missed analysts’ revenue expectations last quarter, reporting revenues of $373.5 million, down 2.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS and adjusted operating income estimates. It reported 4.76 million visitors, down 3% year on year.
Is United Parks & Resorts a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting United Parks & Resorts’s revenue to decline 2.8% year on year, in line with the 3.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have 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 multiple times over the last two years.
Looking at United Parks & Resorts’s peers in the consumer discretionary - leisure facilities segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Sphere Entertainment delivered year-on-year revenue growth of 37.7%, beating analysts’ expectations by 5%, and Planet Fitness reported revenues up 21.9%, topping estimates by 12.4%. Sphere Entertainment traded up 5.4% following the results while Planet Fitness was down 28.2%.
Read our full analysis of Sphere Entertainment’s results here and Planet Fitness’s results here.
There has been positive sentiment among investors in the consumer discretionary - leisure facilities segment, with share prices up 5% on average over the last month. United Parks & Resorts is up 5.3% during the same time and is heading into earnings with an average analyst price target of $44.30 (compared to the current share price of $39.30).
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