Pursuit Reports Record First Quarter 2026 Results
Key Terms
adjusted ebitda financial
revpar financial
non-gaap financial measure financial
revolving credit facility financial
net leverage ratio financial
maintenance capex financial
Reaffirms Full Year Guidance and Announces
“We delivered record first quarter results and continue to execute against our Vision 2030 strategy with a consistent and disciplined playbook that has delivered double-digit compound annual growth over the past decade,” said David Barry, Pursuit president and chief executive officer. “We are delivering business growth through our relentless focus on team member and guest experience, and we’re investing in ourselves through low-risk growth investments in well-instrumented businesses to make experiences better and guests happier, which in turn drives profitability. Additionally, we continue to actively pursue acquisitions to broaden our portfolio of experiential infrastructure in iconic locations while opportunistically repurchasing stock at compelling valuations.”
First Quarter 2026 Highlights
-
37% revenue growth and strong margin improvement in record first quarter -
Strong demand for Pursuit’s experiential infrastructure supported yield growth of
5% in same-store attraction effective ticket prices and6% in same-store lodging RevPAR - Tabacón’s performance exceeded expectations with RevPAR and attraction visitor growth, reinforcing Pursuit’s acquisition strategy
- Reaffirmed full year 2026 growth outlook, supported by sustained demand for experiential travel in iconic destinations and positive booking pace for peak season
- Advanced transformational growth projects across the portfolio
-
Completed
in share repurchases during the quarter, and$25.2 million in aggregate as of May 6, 2026, at attractive valuations$40.4 million -
Expanded share repurchase authorization by
, for a total of$50 million remaining available$59.6 million
First Quarter 2026 Financial Performance
-
Pursuit delivered record first quarter revenue of
for 2026, representing an increase of$51.6 million 37.4% year-over-year. This growth primarily reflected strong demand across our portfolio of year-round iconic experiences, including Tabacón, which we acquired in July 2025. -
Net loss attributable to Pursuit was
for the seasonally slow first quarter. The year-over-year improvement from the first quarter 2025 net loss attributable to Pursuit of$24.9 million was primarily driven by lower transaction-related costs from the GES sale and stronger revenue.$31.1 million -
First quarter adjusted net loss* was
($26.2 million per share) for 2026 versus$(0.94) ($26.9 million per share) for 2025. The year-over-year improvement primarily reflects higher Adjusted EBITDA*, partially offset by a lower amount of seasonal first quarter losses being allocated to noncontrolling interests.$(0.96) -
Adjusted EBITDA* was negative
for the seasonally slow first quarter 2026. The year-over-year improvement from the first quarter 2025 negative Adjusted EBITDA* of$14.9 million was primarily driven by higher revenue, with strong margin improvement, supported by the positive contribution from Tabacón and continued cost discipline.$17.5 million
* Refer to Table Two of this press release for a discussion and reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure.
In addition to the commentary above, further information regarding Pursuit's financial results, trends, and outlook are available in a supplemental earnings presentation, which can be accessed on the "Investors" section of the company's website, and in the financial tables accompanying this press release.
March 31, 2026 Balance Sheet and Liquidity Highlights
-
Total liquidity was
at March 31, 2026, comprising cash and cash equivalents of$170.3 million ** and$35.4 million of capacity available on the company’s$134.9 million revolving credit facility.$300 million -
Total debt was
** and the net leverage ratio was 1.5x at March 31, 2026, below the company’s target range of 2.0x to 3.5x.$236.4 million - On a pro forma basis for the pending sale of Flyover, the company’s net leverage ratio at March 31, 2026 was less than 1x.
-
Pursuit repurchased
of common stock during the first quarter, and$25.2 million in aggregate at an average price of$40.4 million per share. On May 1, 2026, the company’s Board of Directors approved a$35.40 increase in Pursuit’s share repurchase authorization, which brings the total remaining available for future repurchases to$50 million .$59.6 million
** Cash and debt amounts shown here are inclusive of Flyover cash and debt balances of
Flyover Sale for
On January 21, 2026, Pursuit entered into an agreement to sell its Flyover Attractions business to Brogent Technologies Inc. for approximately
2026 Outlook
“We are reaffirming our full year revenue and Adjusted EBITDA guidance based on our solid first quarter and sustained positive indicators of consumer demand across our experiences and destinations for the balance of the year. We remain confident in our 2026 outlook,” said Barry.
The company’s guidance is below.
(in millions) |
Full Year 2026 Guidance |
Full Year 2025 Actual |
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Revenue |
including |
|
||
Adjusted EBITDA* |
including |
|
||
Maintenance Capex |
(~ |
|
||
Growth Capex |
|
|
||
Total Capex |
|
|
Adjusted EBITDA guidance of
During 2026, Pursuit expects to invest approximately
The company’s 2026 growth capex guidance range has been reduced relative to its prior guidance due to a shift in expected timing of cash outlays as it continues to actively work through approvals and planning.
Select 2026 Organic Growth Investments (Subject to Approvals) Include:
-
Jasper SkyTram (
Jasper National Park ) - Elevating the arrival-to-summit guest experience and strengthening must-do position inJasper National Park . -
Banff Gondola (
Banff National Park ) - Elevating the guest experience at this iconicBanff attraction, including the recent expansion of its top-rated Sky Bistro summit dining experience. -
Denali Backcountry Adventure Relaunch (
Denali National Park ) - Reintroducing a premium, high margin wildlife safari experience deep inDenali National Park when road access reopens in 2027. -
Forest Park Hotel Woodland Wing (
Jasper National Park ) - Phased renovation to capture higher-end and year-round demand inJasper National Park , with the first phase driving a22% ADR lift and the final phase to be completed ahead of 2026 peak summer season. -
Grouse Mountain Lodge (
Whitefish, Montana ) - Phased renovation to elevate and reposition the property to capture higher-end and year-round demand nearGlacier National Park with the first phase to be completed in 2026. -
Lobstick Lodge (
Jasper National Park ) - Planned investments to improve and reposition the year-round lodge in Jasper to capitalize on high market demand from both consumer and tour and travel segments.
Pursuit’s guidance is based on certain assumptions, including (1) organic growth from continued guest experience improvements, demand for authentic experiential travel in iconic places, and focus on revenue and cost management, (2) approximately
*Pursuit has not quantitatively reconciled its guidance for Adjusted EBITDA to the company’s most comparable GAAP financial measure because certain reconciling items that impact this metric, including provision for income taxes, interest expense, restructuring or impairment charges, transaction-related costs, and start-up costs have not occurred, are out of the company’s control, or cannot be reasonably predicted. Accordingly, reconciliations to the nearest GAAP financial measure are not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact Pursuit’s results as reported under GAAP.
Conference Call Details
Management will host a conference call to review first quarter 2026 results on Wednesday, May 6, 2026, at 5 p.m. (Eastern Time).
A live audio webcast of the call will be available in listen-only mode through the "Events & Presentations" section of Pursuit’s investor website, where the company will also post its earnings press release and a supplemental earnings presentation prior to the call. Management will refer to this presentation during the call.
The live call can also be accessed by dialing (800) 715-9871 or (646) 307-1963 and entering the access code 26219. To avoid wait time and bypass speaking with an operator to join the call, participants can pre-register using the following registration link: https://registrations.events/direct/Q4I262197. After registering, a calendar invitation will be sent that includes dial-in information as well as unique codes for entry into the live call. The company recommends that you register in advance to ensure access for the full call.
A replay of the call will be available on Pursuit’s website shortly after the conference call and, for a limited time, by dialing (800) 770-2030 and entering the access code 26219.
About Pursuit
Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) is an attractions and hospitality company that owns and operates a collection of inspiring and unforgettable experiences in iconic destinations in
For more information, visit pursuit.com.
Forward-Looking Statements
This press release contains a number of forward-looking statements. Words, and variations of words, such as “will,” “can,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “estimate,” “anticipate,” “deliver,” “seek,” “aim,” “potential,” “target,” “outlook,” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements include those that address activities, events or developments that Pursuit or its management believes or anticipates may occur in the future, including all statements regarding the company’s expectations concerning the travel industry and the markets in which Pursuit operates; management’s expectations concerning future financial performance, including its 2026 and long-term outlook and the related underlying assumptions; its growth plans and strategies, including with respect to investments, growth capital expenditures and acquisitions; its ability to opportunistically return capital to shareholders through share repurchases; its expectations concerning the Flyover transaction and other statements that are not historical fact. These forward-looking statements are subject to a host of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in Pursuit’s forward-looking statements include, but are not limited to, the following:
- general economic and geopolitical uncertainty in key global markets and a worsening of global economic conditions;
- the seasonality of Pursuit’s businesses;
- the competitive nature of the industries in which Pursuit operates;
- travel industry disruptions;
- changes in consumer tastes and preferences for recreational activities;
- natural disasters, weather conditions, and other catastrophic events;
- accidents and adverse incidents at Pursuit’s hotels and attractions;
- the sufficiency and cost of insurance coverage;
- the impact of the company’s borrowings, including its revolving credit facility, on its operational and financial flexibility;
- risks of new capital projects not being commercially successful;
- the company’s ability to fund capital expenditures, or its ability to deploy capital in line with its strategic objectives;
- the company’s ability to successfully integrate and achieve anticipated benefits from acquisitions;
- unknown or contingent liabilities from acquisitions;
- failure to adapt to technological developments or industry trends;
- the company’s inability to realize the strategic, financial and operational benefits from the sale of Flyover;
- potential increases in operating expenses;
- conducting business globally, including the impact of regulatory regimes in geographies where Pursuit operates or may expand;
- Pursuit’s exposure to currency exchange rate fluctuations;
- liabilities relating to prior and discontinued operations;
- the importance of key personnel to Pursuit’s business;
- the impact of labor shortages;
- Pursuit’s exposure to cybersecurity attacks and threats, including the impact of fraud;
- compliance with laws governing the storage, collection, handling, and transfer of personal data and the company’s exposure to legal claims and fines for data breaches or improper handling of such data;
- compliance with foreign data privacy laws that apply to the company’s activities;
- Pursuit’s exposure to litigation in the ordinary course of business;
- changes in federal, state, local or foreign tax laws;
- the company’s ability to comply with extensive environmental requirements;
- risks related to ownership of Pursuit’s common stock; and
- other risks and uncertainties included under Part I, Item 1A of Pursuit’s most recent annual report Form 10-K.
For a more complete discussion of the risks and uncertainties that may affect the company’s business or financial results, please see Item 1A, “Risk Factors,” of Pursuit’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as well as any future reports the company may file with the SEC. The company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release except as required by applicable law or regulation.
Availability of Information on Pursuit Website
Pursuit routinely uses its investor relations website (investors.pursuit.com) to post presentations to investors and other important information, including information that may be material. Accordingly, Pursuit encourages investors and others interested in Pursuit to review the information it makes public on its investor relations website.
PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") TABLE ONE - QUARTERLY RESULTS (UNAUDITED) |
||||||||||||||
|
||||||||||||||
|
|
Three months ended March 31, |
||||||||||||
(in thousands, except per share data) |
|
|
2026 |
|
|
|
2025 |
|
|
$ Change |
|
% Change |
||
Revenue: |
|
|
|
|
|
|
|
|
||||||
Ticket, rooms, transportation, and other services revenue |
|
|
41,229 |
|
|
|
29,734 |
|
|
|
11,495 |
|
|
|
Food, beverage, and retail products revenue |
|
|
10,413 |
|
|
|
7,845 |
|
|
|
2,568 |
|
|
|
Total revenue |
|
$ |
51,642 |
|
|
$ |
37,579 |
|
|
$ |
14,063 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Cost of food, beverage, and retail products sold |
|
|
(2,988 |
) |
|
|
(2,285 |
) |
|
|
(703 |
) |
|
( |
Operating expenses (exclusive of depreciation and amortization shown separately below) (Note A) |
|
|
(42,212 |
) |
|
|
(34,906 |
) |
|
|
(7,306 |
) |
|
( |
Selling, general, and administrative expenses (Note B) |
|
|
(19,213 |
) |
|
|
(20,686 |
) |
|
|
1,473 |
|
|
|
Depreciation and amortization |
|
|
(9,676 |
) |
|
|
(10,968 |
) |
|
|
1,292 |
|
|
|
Interest expense, net |
|
|
(2,655 |
) |
|
|
(1,464 |
) |
|
|
(1,191 |
) |
|
( |
Other expense, net |
|
|
(834 |
) |
|
|
(357 |
) |
|
|
(477 |
) |
|
** |
Loss from continuing operations before income taxes |
|
|
(25,936 |
) |
|
|
(33,087 |
) |
|
|
7,151 |
|
|
|
Income tax benefit (Note C) |
|
|
1,219 |
|
|
|
1,866 |
|
|
|
(647 |
) |
|
( |
Loss from continuing operations |
|
|
(24,717 |
) |
|
|
(31,221 |
) |
|
|
6,504 |
|
|
|
Loss from discontinued operations, net of tax |
|
|
(21 |
) |
|
|
(131 |
) |
|
|
110 |
|
|
|
Net loss |
|
|
(24,738 |
) |
|
|
(31,352 |
) |
|
|
6,614 |
|
|
|
Net (income) loss attributable to non-redeemable noncontrolling interest |
|
|
(200 |
) |
|
|
216 |
|
|
|
(416 |
) |
|
** |
Net loss attributable to Pursuit |
|
$ |
(24,938 |
) |
|
$ |
(31,136 |
) |
|
$ |
6,198 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Amounts Attributable to Pursuit: |
|
|
|
|
|
|
|
|
||||||
Net loss from continuing operations attributable to Pursuit |
|
$ |
(24,917 |
) |
|
$ |
(31,005 |
) |
|
$ |
6,088 |
|
|
|
Loss from discontinued operations, net of tax |
|
|
(21 |
) |
|
|
(131 |
) |
|
|
110 |
|
|
|
Net loss attributable to Pursuit |
|
$ |
(24,938 |
) |
|
$ |
(31,136 |
) |
|
$ |
6,198 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net loss attributable to Pursuit per common share |
|
|
|
|
|
|
|
|
||||||
Basic loss per common share |
|
$ |
(0.90 |
) |
|
$ |
(1.11 |
) |
|
$ |
0.21 |
|
|
|
Diluted loss per common share |
|
$ |
(0.90 |
) |
|
$ |
(1.11 |
) |
|
$ |
0.21 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic and diluted weighted-average common shares outstanding (Note D): |
|
|
|
|
|
|
|
|
||||||
Basic weighted-average outstanding common shares |
|
|
27,857 |
|
|
|
28,113 |
|
|
|
(256 |
) |
|
( |
Additional dilutive shares related to share-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
** |
Diluted weighted-average outstanding common shares |
|
|
27,857 |
|
|
|
28,113 |
|
|
|
(256 |
) |
|
( |
|
||||||||||||||
** Change is greater than +/- 100 percent |
||||||||||||||
|
||||||||||||||
(A) Operating expenses (exclusive of depreciation and amortization) – The increase in operating expenses was primarily due to increases in variable costs associated with increased transaction volumes and revenue, including increases of |
||||||||||||||
|
||||||||||||||
(B) Selling, general, and administrative expenses – The decrease in selling, general, and administrative expenses was primarily due to higher transaction-related costs during the three months ended March 31, 2025, of |
||||||||||||||
|
||||||||||||||
(C) Income tax benefit – The effective tax rate was |
||||||||||||||
|
||||||||||||||
(D) Basic and diluted weighted-average common shares outstanding - Weighted-average potential common shares for outstanding equity awards were excluded during the applicable periods because their inclusion would have been anti-dilutive. |
||||||||||||||
|
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PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT")
TABLE TWO - NON-GAAP FINANCIAL MEASURES (UNAUDITED)
IMPORTANT DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES
This document includes the presentation of "Adjusted Net Income (Loss)", “Adjusted EPS”, "Adjusted EBITDA", and “Adjusted EBITDA Margin”, which are supplemental to results presented under accounting principles generally accepted in
Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are considered useful operating metrics, in addition to net income (loss) attributable to Pursuit, as potential variations arising from non-operational expenses/income are eliminated, thus resulting in additional measures considered to be indicative of Pursuit’s performance. Management believes that the presentation of Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin provides useful information to investors regarding Pursuit’s results of operations for trending, analyzing, and benchmarking the performance and value of Pursuit’s business.
Additionally, the company calculates the impact of foreign exchange rate variances by converting non-United States Dollar results using comparative period exchange rates and determining the change from prior period reported results.
|
|
Three months ended March 31, |
||||||||||||
(in thousands, except per share data) |
|
|
2026 |
|
|
|
2025 |
|
|
$ Change |
|
% Change |
||
Adjusted net loss: |
|
|
|
|
|
|
|
|
||||||
Net loss attributable to Pursuit |
|
$ |
(24,938 |
) |
|
$ |
(31,136 |
) |
|
$ |
6,198 |
|
|
|
Loss from discontinued operations, net of tax |
|
|
21 |
|
|
|
131 |
|
|
|
(110 |
) |
|
( |
Net loss from continuing operations attributable to Pursuit |
|
|
(24,917 |
) |
|
|
(31,005 |
) |
|
|
6,088 |
|
|
|
Restructuring charges, pre-tax |
|
|
12 |
|
|
|
38 |
|
|
|
(26 |
) |
|
( |
Transaction-related costs and other non-recurring items, pre-tax (Note A) |
|
|
472 |
|
|
|
5,002 |
|
|
|
(4,530 |
) |
|
( |
FX remeasurement associated with debt and debt-like obligations, pre-tax (Note B) |
|
|
(2,589 |
) |
|
|
(2,181 |
) |
|
|
(408 |
) |
|
( |
Tax expense (benefit) on above items |
|
|
707 |
|
|
|
194 |
|
|
|
513 |
|
|
** |
Portion of above amounts attributable to non-controlling interests |
|
|
147 |
|
|
|
1,069 |
|
|
|
(922 |
) |
|
( |
Adjusted net loss |
|
$ |
(26,168 |
) |
|
$ |
(26,884 |
) |
|
$ |
716 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Adjusted EPS: |
|
|
|
|
|
|
|
|
||||||
Diluted adjusted net income (loss) allocated to Pursuit common shareholders (as reconciled above) |
|
$ |
(26,168 |
) |
|
$ |
(26,884 |
) |
|
$ |
716 |
|
|
|
Diluted weighted-average outstanding common shares |
|
|
27,857 |
|
|
|
28,113 |
|
|
|
(256 |
) |
|
( |
Adjusted EPS |
|
$ |
(0.94 |
) |
|
$ |
(0.96 |
) |
|
$ |
0.02 |
|
|
|
** Change is greater than +/- 100 percent |
||||||||||||||
|
||||||||||||||
(A) Transaction-related costs and other non-recurring items include expenses related to acquisition, divestiture, and other corporate development activities, including costs for integration, separation (sale of GES), diligence, feasibility, legal, and other costs, as well as certain non-recurring wildfire and insurance-related items. |
||||||||||||||
|
||||||||||||||
(B) Represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon and Tabacón debt and debt-like obligations. |
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PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") TABLE TWO - NON-GAAP FINANCIAL MEASURES CONTINUED (UNAUDITED) |
||||||||||||||
|
|
Three months ended March 31, |
||||||||||||
($ in thousands) |
|
|
2026 |
|
|
|
2025 |
|
|
$ Change |
|
% Change |
||
|
|
|
|
|
|
|
|
|
||||||
Revenue |
|
$ |
51,642 |
|
|
$ |
37,579 |
|
|
$ |
14,063 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net loss attributable to Pursuit |
|
$ |
(24,938 |
) |
|
$ |
(31,136 |
) |
|
$ |
6,198 |
|
|
|
Net income (loss) attributable to non-redeemable noncontrolling interest |
|
|
200 |
|
|
|
(216 |
) |
|
|
416 |
|
|
** |
Loss from discontinued operations, net of tax |
|
|
21 |
|
|
|
131 |
|
|
|
(110 |
) |
|
( |
Interest expense, net |
|
|
2,655 |
|
|
|
1,464 |
|
|
|
1,191 |
|
|
|
Income tax benefit |
|
|
(1,219 |
) |
|
|
(1,866 |
) |
|
|
647 |
|
|
|
Depreciation and amortization |
|
|
9,676 |
|
|
|
10,968 |
|
|
|
(1,292 |
) |
|
( |
Other expense, net |
|
|
834 |
|
|
|
357 |
|
|
|
477 |
|
|
** |
Transaction-related costs and other non-recurring items (B) |
|
|
472 |
|
|
|
5,002 |
|
|
|
(4,530 |
) |
|
( |
FX remeasurement associated with debt and debt-like obligations (C) |
|
|
(2,589 |
) |
|
|
(2,181 |
) |
|
|
(408 |
) |
|
( |
Adjusted EBITDA |
|
$ |
(14,888 |
) |
|
$ |
(17,477 |
) |
|
$ |
2,589 |
|
|
|
Adjusted EBITDA attributable to noncontrolling interest |
|
|
(1,603 |
) |
|
|
(950 |
) |
|
|
(653 |
) |
|
( |
Adjusted EBITDA attributable to Pursuit |
|
$ |
(16,491 |
) |
|
$ |
(18,427 |
) |
|
$ |
1,936 |
|
|
|
Adjusted EBITDA Margin |
|
|
(28.8 |
%) |
|
|
(46.5 |
%) |
|
|
|
17.7 pts |
||
** Change is greater than +/- 100 percent |
||||||||||||||
|
|
2025 |
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($ in thousands) |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
FY |
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|
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenue |
|
$ |
37,579 |
|
|
$ |
116,743 |
|
|
$ |
241,022 |
|
|
$ |
57,073 |
|
|
$ |
452,417 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income (loss) attributable to Pursuit |
|
$ |
(31,136 |
) |
|
$ |
5,646 |
|
|
$ |
73,853 |
|
|
$ |
(25,695 |
) |
|
$ |
22,668 |
|
Net income (loss) attributable to noncontrolling interest |
|
|
(216 |
) |
|
|
3,085 |
|
|
|
11,248 |
|
|
|
(476 |
) |
|
|
13,641 |
|
(Income) loss from discontinued operations, net of tax |
|
|
131 |
|
|
|
(1,135 |
) |
|
|
2,882 |
|
|
|
330 |
|
|
|
2,208 |
|
Interest expense, net |
|
|
1,464 |
|
|
|
1,928 |
|
|
|
2,835 |
|
|
|
2,596 |
|
|
|
8,823 |
|
Income tax expense (benefit) |
|
|
(1,866 |
) |
|
|
3,021 |
|
|
|
17,771 |
|
|
|
(2,424 |
) |
|
|
16,502 |
|
Depreciation and amortization |
|
|
10,968 |
|
|
|
11,073 |
|
|
|
12,042 |
|
|
|
11,987 |
|
|
|
46,070 |
|
Other (income) expense, net (A) |
|
|
357 |
|
|
|
5,962 |
|
|
|
(3,455 |
) |
|
|
(1,202 |
) |
|
|
1,662 |
|
Transaction-related costs and other non-recurring items (B) |
|
|
5,002 |
|
|
|
4,009 |
|
|
|
(82 |
) |
|
|
1,551 |
|
|
|
10,480 |
|
FX remeasurement associated with debt and debt-like obligations (C) |
|
|
(2,181 |
) |
|
|
(3,881 |
) |
|
|
261 |
|
|
|
892 |
|
|
|
(4,909 |
) |
Adjusted EBITDA |
|
$ |
(17,477 |
) |
|
$ |
29,708 |
|
|
$ |
117,355 |
|
|
$ |
(12,441 |
) |
|
$ |
117,145 |
|
Adjusted EBITDA Margin |
|
|
(46.5 |
%) |
|
|
25.4 |
% |
|
|
48.7 |
% |
|
|
(21.8 |
%) |
|
|
25.9 |
% |
(A) Includes a largely non-cash |
||||||||||||||||||||
|
||||||||||||||||||||
(B) Transaction-related costs and other non-recurring items represent expenses related to acquisition, divestiture, and other corporate development activities, including costs for integration, separation (sale of GES), diligence, feasibility, legal, and other costs, as well as certain non-recurring wildfire and insurance-related items. |
||||||||||||||||||||
|
||||||||||||||||||||
(C) Represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon and Tabacón debt and debt-like obligations. |
||||||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506413398/en/
Carrie Long or Michelle Porhola
Investor Relations Contacts
ir@pursuit.com
(602) 207-2681
Jessica Harcombe Fleming
Media Contact
media@pursuit.com
(403) 498-8420
Source: Pursuit