United Parks reports Q4 net income $40.1M; proposes $500M buyback subject to non-Hill Path vote

United Parks & Resorts Inc.

2023-FY EPS reported $3.63 revenue$1,726,587,000

Q4 attendance record 5.0M guests; total revenue $389.0M (-0.4% YoY); net income $40.1M (-$9.0M).
FY2023 revenue $1,726.6M, net income $234.2M (-19.6% YoY); Adj. EBITDA $713.5M (-2.0%).
Total revenue per capita record $79.91 (+1.3%); in-park per capita record $35.75 (+2.4%).
Board proposes $500M share buyback authorization, contingent on non-Hill Path shareholder approval.
Amended Stockholders Agreement with Hill Path requires disinterested stockholder approval for future acquisitions and certain related-party transactions.

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

United Parks & Resorts Inc. reported fiscal year ended December 31, 2023 results: revenue $1,726.6 million, net income $234.2 million.

Period: fiscal year ended December 31, 2023
Revenue: $1,726.6 million
Net income: $234.2 million
Result: reported results

Exact text from the filing

from the fourth quarter of 2022. Fiscal 2023 Highlights • Attendance was 21.6 million guests, a decrease of 0.3 million guests or 1.5% from fiscal 2022. • Total revenue was $1,726.6 million, a decrease of $4.7 million or 0.3% from fiscal 2022. • Net income was $234.2 million, a decrease of $57.0 million or 19.6% from fiscal 2022. • Adjusted EBITDA was $713.5

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

United Parks & Resorts Inc. reported fourth quarter ended December 31, 2023 results: revenue $389.0 million, net income $40.1 million.

Period: fourth quarter ended December 31, 2023
Revenue: $389.0 million
Net income: $40.1 million
Result: reported results

Exact text from the filing

Fourth Quarter 2023 Highlights • Attendance was a record 5.0 million guests, an increase of approximately 23,000 guests from the fourth quarter of 2022. • Total revenue was $389.0 million, a decrease of $1.6 million or 0.4% from the fourth quarter of 2022. • Net income was $40.1 million, a decrease of $9.0 million from the fourth quarter of 2022. • Adjusted EBITDA

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

United Parks & Resorts Inc. entered into First Amendment to Stockholders Agreement with Hill Path Capital LP valued at Amends voting and approval provisions; requires Special Committee and Disinterested Stockholder Appr (effective 2024-02-27).

Action: entry
Counterparty: Hill Path Capital LP
Value: Amends voting and approval provisions; requires Special Committee and Disinterested Stockholder Appr
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, United Parks & Resorts Inc. (the “Company”) and Hill Path Capital LP (“Hill Path”) entered into the First Amendment (the “Amendment”) to the Stockholders Agreement, dated as of May 27, 2019

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Source: SEC EDGAR

accession 0000950170-24-021629

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