SeaWorld Parent United Parks Sees Dip In Q4 Revenue But Was 'Extremely Well Received' In Abu Dhabi, CEO Says
Portfolio Pulse from Akanksha Bakshi
United Parks & Resorts Inc. (NYSE:PRKS) reported a slight decline in Q4 fiscal 2023 revenue by 0.4% Y/Y to $389 million, despite a small increase in attendance. Net income and adjusted EBITDA also saw declines of 18.3% and 2.1% Y/Y, respectively. The company announced a new $500 million share buyback program and highlighted the successful opening of its first SeaWorld park in Abu Dhabi. PRKS shares rose by 8.97% to $53.19.
February 28, 2024 | 5:16 pm
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United Parks & Resorts Inc. reported a minor decline in Q4 revenue but highlighted the success of its new SeaWorld park in Abu Dhabi. The company also announced a significant share buyback program.
Despite a slight decline in Q4 revenue and net income, the successful opening of the SeaWorld park in Abu Dhabi and the announcement of a new $500 million share buyback program are positive signals for investors. These factors, combined with the stock's positive price action, suggest a short-term bullish outlook for PRKS.
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IMPORTANCE 90
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