United Parks & Resorts Inc. (PRKS) experienced a decrease in total revenues and an increase in operating expenses in Q4 2024 compared to the previous quarter, Q3 2024:
- Revenue Trend:
- PRKS reported a total revenue of $545.9 million in Q4 2024, which is a slight decrease from the previous quarter's revenue of $548.2 million in Q3 202412.
- This decline in revenue is attributed to a reduction in admissions revenue, which fell to $296.9 million from $299.8 million, partially offset by an increase in per capita spending12.
- The company's total revenue for the nine months ended September 30, 2024, was $1,340.9 million, indicating a slight increase of 0.2% compared to the same period last year3.
- Expense Trend:
- Operating expenses increased to $207.336 million in Q4 2024 from $205.808 million in Q3 20241.
- The increase in operating expenses is mainly due to higher labor-related costs and consulting expenses1.
- Selling, general, and administrative expenses decreased to $55.361 million from $59.705 million, primarily due to reduced consulting costs1.
- Net Income and Profitability:
- Net income for the quarter was $119.677 million, down from $123.555 million in the previous year, which is a 3.1% decrease13.
- The company reported an operating income of $201.0 million, a decrease from $203.3 million in the same quarter the previous year1.
- Cash Flow and Liquidity:
- Cash provided by operating activities was $367.671 million, while cash used in investing and financing activities was $222.282 million and $315.476 million, respectively1.
- United Parks & Resorts had a working capital of $256.119 million as of September 30, 20241.
In summary, United Parks & Resorts Inc. faced a challenging quarter with a decline in revenue and an increase in operating expenses, leading to a decrease in net income. The company's focus on managing liquidity and capital resources effectively is evident from its working capital figures and cash flow activities.
4/14/2025 10:15am
