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United Parks & Resorts Inc. (PRKS-2.93%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a slight decrease in total revenues to $545,901,000 from $548,247,000 in the same quarter the previous year. This decrease is attributed to a reduction in attendance, partially offset by an increase in per capita spending.
Operating expenses increased to $207,336,000 from $205,808,000, mainly due to higher labor-related costs and consulting expenses.
Selling, general, and administrative expenses decreased to $55,361,000 from $59,705,000, primarily due to reduced consulting costs.
Net income for the quarter was $119,677,000, down from $123,555,000 in the previous year. The decrease is attributed to higher interest expenses and other costs.
Cash provided by operating activities was $367,671,000, while cash used in investing and financing activities was $222,282,000 and $315,476,000, respectively.
United Parks & Resorts had a working capital of $256,119,000 as of September 30, 2024. The company continues to focus on managing its liquidity and capital resources effectively.
The filing also details various financial agreements, including amendments to the company's credit facilities and the issuance of senior notes.
United Parks & Resorts does not anticipate significant changes to its capital expenditure plans and continues to evaluate opportunities for growth and improvement.
The company identified no material changes to its risk factors and continues to monitor market conditions and operational challenges.
United Parks & Resorts remains committed to enhancing guest experiences and optimizing its operations across its theme parks.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United Parks & Resorts Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.