517093

United Parks & Resorts (PRKS) Reports Earnings Tomorrow: What To Expect


Anthony Lee /
2024/08/06 3:01 am EDT

Theme park operator United Parks & Resorts (NYSE:SEAS) will be announcing earnings results tomorrow before market open. Here's what to expect.

United Parks & Resorts beat analysts' revenue expectations by 4.5% last quarter, reporting revenues of $297.4 million, up 1.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates and a narrow beat of analysts' visitors estimates.

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 be flat year on year at $501 million, improving from the 1.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.59 per share.

United Parks & Resorts Total Revenue

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 three times over the last two years.

Looking at United Parks & Resorts's peers in the leisure facilities segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Life Time delivered year-on-year revenue growth of 18.9%, beating analysts' expectations by 5.2%, and Live Nation reported revenues up 7%, in line with consensus estimates. Life Time traded up 7.5% following the results while Live Nation was also up 1.6%.

Read our full analysis of Life Time's results here and Live Nation's results here.

Investors in the leisure facilities segment have had steady hands going into earnings, with share prices flat over the last month. United Parks & Resorts is down 15.2% during the same time and is heading into earnings with an average analyst price target of $67.4 (compared to the current share price of $46.94).

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.