Orlando, Thursday, 6 November 2025.
United Parks & Resorts reported third-quarter operating earnings of $89.3 million on Thursday, but beneath that headline the business shows clear pressure: attendance fell 3.4% to about 6.8 million guests, total revenue dropped 6.2% to $511.9 million and Adjusted EBITDA declined 16.3%. The most intriguing fact is the split signal from guests — in‑park per‑capita spend rose modestly while admissions and total revenue per capita softened — giving management room to lean on yield management and targeted guest-flow and reservation systems. Leadership is prioritizing capital allocation toward high-return attractions and deferred maintenance, cutting broad greenfield spend and repurchasing roughly $32.2 million of shares through early November, even as margin pressure from higher labor and energy costs persists in select markets. For retail and park operators, the release signals a shift from volume-driven expansion to IP-led, margin-focused investments, portfolio rationalization (including a planned park closure) and seasonal demand sensitivity heading into the holidays.