What's Going On With United Parks & Resorts Shares Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
United Parks & Resorts Inc. (NYSE:PRKS) shares rose after reporting Q1 results with a smaller loss and higher revenues than expected. The company saw a 2.1% increase in attendance, attributed to a favorable calendar shift. Adjusted EBITDA rose by 9.3%, with decreased expenses and increased total revenue. CEO Marc Swanson highlighted strong booking trends and improved international visitation. The company also announced a new $500 million share repurchase program, having already bought back shares worth approximately $100.8 million.
May 08, 2024 | 5:51 pm
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United Parks & Resorts Inc. reported better-than-expected Q1 earnings, a new share repurchase program, and positive trends in bookings and attendance.
The positive earnings report, coupled with the announcement of a significant share repurchase program, is likely to instill confidence in investors about the company's financial health and future prospects. The increase in attendance and positive booking trends further support the optimistic outlook, making a short-term positive impact on the stock price likely.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100