Latest news with #PursuitAttractionsandHospitality
Business Wire
27-05-2025
- Business
- Business Wire
Pursuit Appoints New Chief Accounting Officer
DENVER--(BUSINESS WIRE)--Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) ('Pursuit') today announced the appointment of Mike Bosco as Senior Vice President and Chief Accounting Officer ('CAO'), effective July 1, 2025. He succeeds Leslie Striedel, who will depart the company on June 30 following a successful 11-year tenure in the role. 'Leslie has been an exemplary member of our leadership team during her tenure as CAO. She has provided a strong and steady voice guiding us through many important milestones throughout the company's evolution, including Pursuit's launch at the beginning of this year as a standalone, publicly traded company. As a result, Pursuit has a strong accounting foundation that positions us well for the future, and we are grateful for her many contributions to our team,' said Bo Heitz, Chief Financial Officer, Pursuit. Bosco joins Pursuit on June 16, 2025, from Vail Resorts, Inc., where he held roles of increasing responsibility over 16 years, most recently as Vice President & Assistant Controller. He brings extensive experience in operational and technical accounting, financial reporting, internal controls, and SEC compliance. Bosco holds a master's degree in accounting science from Northern Illinois University and a bachelor's degree in accounting from Elmhurst College. 'Mike brings deep financial and accounting expertise and a collaborative leadership style that will be instrumental as we enter our next chapter of global growth. We are confident that his fresh perspectives and contributions to the senior leadership team will be beneficial as we scale,' said Heitz. As Senior Vice President and CAO, Bosco will lead Pursuit's global accounting function and work closely with Pursuit's external auditors. He will also partner with Heitz to drive innovation across accounting systems and processes while supporting the company's strategic objectives. 'Pursuit's commitment to guest excellence and its bold vision for growth make this an exciting time to join the team,' said Bosco. 'I am honored to lead the accounting discipline at Pursuit and look forward to contributing to the company's continued success to drive both guest and shareholder value.' 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 the United States, Canada, and Iceland. Pursuit's elevated hospitality experiences include 15 world-class point-of-interest attractions and 28 distinctive lodges, along with integrated restaurants, retail and transportation that enable visitors to discover and connect with stunning national parks and renowned global travel locations. For more information visit
Yahoo
27-05-2025
- Business
- Yahoo
Pursuit Appoints New Chief Accounting Officer
Experienced financial leader to succeed Leslie Striedel, joining senior leadership team ahead of next phase of growth DENVER, May 27, 2025--(BUSINESS WIRE)--Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) ("Pursuit") today announced the appointment of Mike Bosco as Senior Vice President and Chief Accounting Officer ("CAO"), effective July 1, 2025. He succeeds Leslie Striedel, who will depart the company on June 30 following a successful 11-year tenure in the role. "Leslie has been an exemplary member of our leadership team during her tenure as CAO. She has provided a strong and steady voice guiding us through many important milestones throughout the company's evolution, including Pursuit's launch at the beginning of this year as a standalone, publicly traded company. As a result, Pursuit has a strong accounting foundation that positions us well for the future, and we are grateful for her many contributions to our team," said Bo Heitz, Chief Financial Officer, Pursuit. Bosco joins Pursuit on June 16, 2025, from Vail Resorts, Inc., where he held roles of increasing responsibility over 16 years, most recently as Vice President & Assistant Controller. He brings extensive experience in operational and technical accounting, financial reporting, internal controls, and SEC compliance. Bosco holds a master's degree in accounting science from Northern Illinois University and a bachelor's degree in accounting from Elmhurst College. "Mike brings deep financial and accounting expertise and a collaborative leadership style that will be instrumental as we enter our next chapter of global growth. We are confident that his fresh perspectives and contributions to the senior leadership team will be beneficial as we scale," said Heitz. As Senior Vice President and CAO, Bosco will lead Pursuit's global accounting function and work closely with Pursuit's external auditors. He will also partner with Heitz to drive innovation across accounting systems and processes while supporting the company's strategic objectives. "Pursuit's commitment to guest excellence and its bold vision for growth make this an exciting time to join the team," said Bosco. "I am honored to lead the accounting discipline at Pursuit and look forward to contributing to the company's continued success to drive both guest and shareholder value." 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 the United States, Canada, and Iceland. Pursuit's elevated hospitality experiences include 15 world-class point-of-interest attractions and 28 distinctive lodges, along with integrated restaurants, retail and transportation that enable visitors to discover and connect with stunning national parks and renowned global travel locations. For more information visit View source version on Contacts For media inquiries, please contact: Tanya Otis, PursuitEmail: totis@ | Phone: 587.222.4686 For investor inquiries, please contact: Carrie Long or Michelle PorholaEmail: ir@ | Phone: 602.207.2681 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Pursuit (NYSE:PRSU) Misses Q1 Sales Targets
Experiential tourism company Pursuit Attractions and Hospitality (NYSE:PRSU) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 86.3% year on year to $37.58 million. Its non-GAAP loss of $0.96 per share was 31.5% below analysts' consensus estimates. Is now the time to buy Pursuit? Find out in our full research report. Revenue: $37.58 million vs analyst estimates of $38.95 million (86.3% year-on-year decline, 3.5% miss) Adjusted EPS: -$0.96 vs analyst expectations of -$0.73 (31.5% miss) Adjusted EBITDA: -$18.43 million vs analyst estimates of -$15.63 million (-49% margin, 17.9% miss) EBITDA guidance for the full year is $103 million at the midpoint, above analyst estimates of $101 million Operating Margin: 48.2%, up from -4.7% in the same quarter last year Market Capitalization: $817.2 million With attractions ranging from glacier tours in the Canadian Rockies to an oceanfront geothermal lagoon in Iceland, Pursuit Attractions and Hospitality (NYSE:PRSU) operates iconic travel experiences, experiential marketing services, and exhibition management across North America and Europe. A company's long-term performance is an indicator of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Pursuit's demand was weak over the last five years as its sales fell at a 37% annual rate. This wasn't a great result and suggests it's a lower quality business. We at StockStory place the most emphasis on long-term growth, but within consumer discretionary, a stretched historical view may miss a company riding a successful new property or trend. Pursuit's recent performance shows its demand remained suppressed as its revenue has declined by 67.2% annually over the last two years. This quarter, Pursuit missed Wall Street's estimates and reported a rather uninspiring 86.3% year-on-year revenue decline, generating $37.58 million of revenue. Looking ahead, sell-side analysts expect revenue to grow 214% over the next 12 months, an improvement versus the last two years. This projection is eye-popping and suggests its newer products and services will fuel better top-line performance. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Operating margin is a key measure of profitability. Think of it as net income - the bottom line - excluding the impact of taxes and interest on debt, which are less connected to business fundamentals. Pursuit's operating margin has risen over the last 12 months and averaged 16.7% over the last two years. On top of that, its profitability was top-notch for a consumer discretionary business, showing it's an well-run company with an efficient cost structure. This quarter, Pursuit generated an operating profit margin of 48.2%, up 53 percentage points year on year. This increase was a welcome development, especially since its revenue fell, showing it was more efficient because it scaled down its expenses. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Sadly for Pursuit, its EPS and revenue declined by 14.1% and 37% annually over the last five years. We tend to steer our readers away from companies with falling revenue and EPS, where diminishing earnings could imply changing secular trends and preferences. Consumer Discretionary companies are particularly exposed to this, and if the tide turns unexpectedly, Pursuit's low margin of safety could leave its stock price susceptible to large downswings. In Q1, Pursuit reported EPS at negative $0.96, up from negative $1.13 in the same quarter last year. Despite growing year on year, this print missed analysts' estimates. We also like to analyze expected EPS growth based on Wall Street analysts' consensus projections, but there is insufficient data. It was encouraging to see Pursuit's full-year EBITDA guidance beat analysts' expectations. On the other hand, its EPS missed significantly and its revenue fell short of Wall Street's estimates. Overall, this was a softer quarter. Still, the stock traded up 1.2% to $30.02 immediately following the results. Big picture, is Pursuit a buy here and now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
08-05-2025
- Business
- Business Wire
Pursuit Reports 2025 First Quarter Results
DENVER--(BUSINESS WIRE)--Pursuit Attractions and Hospitality, Inc. ('Pursuit') (NYSE: PRSU) today reported results for the 2025 first quarter and reaffirmed guidance for the 2025 full year. David Barry, Pursuit's President and Chief Executive Officer, commented, 'We delivered solid performance during the seasonally slower first quarter, achieving approximately 9% increases year-over-year in both our attraction effective ticket price and lodging RevPAR metrics on a same-store constant-currency basis. Our advance booking pace remains strong, and we continue to expect to deliver double-digit growth in full year revenue and adjusted EBITDA." Barry continued, "Across Pursuit, our team is preparing to welcome guests and deliver exceptional guest experiences during a strong peak summer season. We are excited for our first season operating the Jasper SkyTram and the two tuck-in acquisitions in Montana that we completed in late 2024. We remain focused on delivering high-quality guest experiences at our one-of-a-kind attractions and hospitality properties and driving meaningful growth through our proven Refresh, Build, Buy strategy and strong balance sheet." Financial Highlights* In addition to the commentary below, further information regarding our financial results, trends, and outlook are available in a supplemental earnings presentation, which can be accessed on the " Investors" section of our website, and in the financial tables accompanying this press release. First Quarter Results Pursuit revenue of $37.6 million increased $0.3 million (0.9%) from the 2024 first quarter primarily due to growth in ticket revenue at our year-round attractions, including the opening of Flyover Chicago on March 1, 2024 and higher effective ticket prices, largely offset by a $1.3 million reduction in revenue due to the translation of foreign revenues to U.S. dollars at lower exchange rates year-over-year. Net loss attributable to Pursuit was $31.1 million as compared to $25.1 million in the prior year. The year-over-year change was primarily driven by the discontinued operations treatment of GES results in 2024. Our loss from continuing operations attributable to Pursuit was $31.0 million as compared to $29.6 million in the prior year. Our Adjusted net loss* was $26.9 million as compared to $25.4 million in the prior year. This adjusted net loss excludes income (loss) from discontinued operations and other non-recurring expenses as detailed in the non-GAAP reconciliation tables that accompany this press release. The year-over-year change primarily reflects lower adjusted EBITDA, partially offset by lower interest expense. Adjusted EBITDA* of negative $17.5 million declined by $2.9 million year-over-year primarily due to inflationary cost increases to support year-round operations as well as seasonal operating losses from new businesses. * 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. Expand Balance Sheet and Liquidity Highlights Our total liquidity was $212.1 million at March 31, 2025, comprising cash and cash equivalents of $22.8 million and $189.3 million of capacity available on our $200 million revolving credit facility. Debt was $78.9 million, and our net leverage ratio was less than 1x at the end of the first quarter. Refresh, Build, Buy Growth Investments The three tuck-in acquisitions that we completed during the 2024 fourth quarter, the Jasper SkyTram, Eddie's Cafe & Mercantile and Apgar Lookout Retreat, and Montana House, are successfully being integrated into Pursuit and are ready for the upcoming peak summer season. The Jasper SkyTram seasonally opened as planned in March. In 2025, we continue to expect to invest approximately $38 million to $43 million in growth capital expenditures, including the Refresh of the Forest Park Hotel's Woodland Wing. The transformation and repositioning of this property in Jasper National Park will dramatically improve the guest experience and create a compelling upscale offering. The project is occurring in three phases to continue certain operations during construction, and we anticipate completion in 2026. 2025 Outlook For full year 2025, we continue to expect Adjusted EBITDA* of approximately $98 million to $108 million, representing substantial growth of approximately $21 million to $31 million relative to 2024. Our reaffirmed guidance is below. Our guidance is based on certain assumptions, including (1) recovery of Jasper leisure travel, (2) approximately $5 million to $7 million of Adjusted EBITDA from the three tuck-in acquisitions completed during the fourth quarter 2024, (3) strong organic growth from continued guest experience improvements, demand for authentic experiential travel in iconic places, and focus on revenue and cost management, and (4) no change to our prior exchange rate assumption of $0.69 between the Canadian Dollar and the U.S. Dollar for our operations in Canada, which presents a translation headwind of approximately $7 million to Adjusted EBITDA compared to 2024 exchange rates. There continues to be uncertainty around the economic and geopolitical outlook, and the impact that may have on travel and consumer behavior as we head into our primary operating season. *We have not quantitatively reconciled our guidance for Adjusted EBITDA to our 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 our 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 our results as reported under GAAP. Conference Call Details Management will host a conference call to review first quarter 2025 results on Thursday, May 8, 2025, 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 our website, where we will also post our earnings press release and an earnings presentation prior to the call. The live call can also be accessed by dialing (404) 975-4839 or (833) 470-1428 and entering the access code 015320. To avoid wait time and bypass speaking with an operator to join the call, participants can pre-register using the following registration link: After registering, a calendar invitation will be sent that includes dial-in information as well as unique codes for entry into the live call. We recommend that you register in advance to ensure access for the full call. A replay of the call will be available on our website shortly after the conference call and, for a limited time, by dialing (929) 458-6194 or (866) 813-9403 and entering the access code 639824. Additionally, we posted a supplemental earnings presentation, containing our financial results, trends and outlook, on the " Investors" section of our website prior to the conference call. We will refer to this presentation during the call. 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 the United States, Canada, and Iceland. Pursuit's elevated hospitality experiences include 15 world-class point-of-interest attractions and 28 distinctive lodges, along with integrated restaurants, retail and transportation that enable visitors to discover and connect with stunning national parks and renowned global travel locations. For more information, visit 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 our 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 our expectations concerning the travel industry and the markets in which we operate; our expectations concerning our future financial performance, including our 2025 outlook and the related underlying assumptions; our growth plans and strategies, including with respect to investments and acquisitions; 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 our 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 our 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; seasonality of our businesses; the competitive nature of the industries in which we operate; travel industry disruptions; changes in consumer tastes and preferences for recreational activities; natural disasters, weather conditions, accidents, and other catastrophic events; accidents and adverse incidents at our hotels and attractions; sufficiency and cost of insurance coverage; the impact of financial covenants on our operational and financial flexibility; risks of new capital projects not being commercially successful; our ability to fund capital expenditures; our ability to successfully integrate and achieve established financial and strategic goals from acquisitions; failure to adapt to technological developments or industry trends our inability to realize the full strategic, financial or operational benefits from the sale of the GES Business; conducting business globally; our exposure to currency exchange rate fluctuations; liabilities relating to prior and discontinued operations; the importance of key members to our business; labor shortages; our exposure to higher labor costs and work stoppages due to union-represented labor; our exposure to cybersecurity attacks and threats; compliance with laws governing the storage, collection, handling, and transfer of personal data and our exposure to legal claims and fines for data breaches or improper handling of such data; our exposure to litigation in the ordinary course of business; changes in federal, state, local or foreign tax laws; extensive environmental requirements; volatility in our stock price; and stock price and trading volumes affected by reports issued by securities industry analysts. For a more complete discussion of the risks and uncertainties that may affect our business or financial results, please see Item 1A, 'Risk Factors,' of our most recent annual report on Form 10-K and our most recent Current Report on Form 10-Q filed with the Securities and Exchange Commission ('SEC'), as well as any future reports we file with the SEC. We disclaim and do 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 ( 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") (A) Operating expenses (exclusive of depreciation and amortization) - The decrease in operating expenses is primarily due to the periodic remeasurement of the Sky Lagoon finance lease obligation, which resulted in an unrealized foreign exchange gain of $2.2 million in the first quarter of 2025 versus an unrealized loss of $1.0 million in the first quarter of 2024. This was partially offset by inflationary cost increases to support year-round operations as well as seasonal operating losses from new businesses. (B) Selling, general, and administrative expenses - The increase in selling, general and administrative expenses is primarily due to higher transaction-related costs totaling $4.9 million in the 2025 first quarter (primarily related to our transition to a standalone publicly-traded operating company following the GES divestiture) as compared to $0.9 million in the first quarter of 2024. (C) Income tax benefit - The effective tax rate was 5.6% for the three months ended March 31, 2025 and 5.1% for the three months ended March 31, 2024. The effective rates differed from the 21% federal rate as we do not recognize a tax benefit primarily on losses in the United States where we have a valuation allowance, while recognizing tax expense and benefit in Canada and Iceland. (D) Income (loss) from discontinued operations - On December 31, 2024, we completed the sale of the GES business. Accordingly, the operating results of the GES business are included within discontinued operations for the 2024 first quarter. (E) Income (loss) per common share - Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or if-converted method. The two-class method uses net income (loss) available to common stockholders and assumes conversion of all potential shares other than participating securities. The if-converted method uses net income (loss) available to common shareholders and assumes conversion of all potential shares including participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units, and, for 2024 only, convertible preferred stock. Additionally, the adjustment to the carrying value of redeemable non-controlling interests is reflected in income (loss) per common share for 2024. Three months ended March 31, Net loss attributable to Pursuit $ (31,136 ) $ (25,117 ) $ (6,019 ) (24.0%) Convertible preferred stock dividends - (1,950 ) 1,950 (100.0%) Undistributed income attributable to Pursuit (31,136 ) (27,067 ) (4,069 ) (15.0%) Less: Allocation to participating securities - - - ** Net loss allocated to Pursuit common shareholders (basic) $ (31,136 ) $ (27,067 ) $ (4,069 ) (15.0%) Add: Allocation to participating securities - - - ** Net loss allocated to Pursuit common shareholders (diluted) $ (31,136 ) $ (27,067 ) $ (4,069 ) (15.0%) Basic weighted-average outstanding common shares 28,113 21,029 7,084 33.7% Additional dilutive shares related to share-based compensation - - - ** Diluted weighted-average outstanding common shares 28,113 21,029 7,084 33.7% ** Change is greater than +/- 100 percent Expand PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") 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 the United States of America ('GAAP') and may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures are utilized by management to facilitate period-to-period comparisons and analysis of Pursuit's operating performance and should be considered in addition to, but not as substitutes for, other similar measures reported in accordance with GAAP. The use of these non-GAAP financial measures is limited, compared to the most comparable GAAP measures, because they do not consider a variety of items affecting Pursuit's consolidated financial performance as reconciled below. Because these non-GAAP measures do not consider all items affecting Pursuit's consolidated financial performance, a user of Pursuit's financial information should consider net income attributable to Pursuit as an important measure of financial performance because it provides a more complete measure of the Company's performance. Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are considered useful operating metrics, in addition to net income 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 provide useful information to investors regarding Pursuit's results of operations for trending, analyzing and benchmarking the performance and value of Pursuit's business. Additionally, we calculate 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) 2025 2024 $ Change % Change Adjusted net loss: Net loss attributable to Pursuit $ (31,136 ) $ (25,117 ) $ (6,019 ) (24.0%) (Income) loss from discontinued operations attributable to Pursuit 131 (4,475 ) 4,606 ** Loss from continuing operations attributable to Pursuit (31,005 ) (29,592 ) (1,413 ) (4.8%) Restructuring charges, pre-tax 38 - 38 ** Transaction-related costs and other non-recurring expenses, pre-tax (Note A) 5,002 3,769 1,233 32.7% Remeasurement of finance lease obligation attributable to Pursuit, pre-tax (Note B) (2,181 ) 1,004 (3,185 ) ** Tax expense (benefit) on above items 194 (108 ) 301 ** Portion of above amounts attributable to non-controlling interests 1,069 (492 ) 1,561 ** Adjusted net loss $ (26,884 ) $ (25,418 ) $ (1,465 ) (5.8%) Adjusted EPS: Adjusted net loss (as reconciled above) $ (26,884 ) $ (25,418 ) $ (1,465 ) (5.8%) Convertible preferred stock dividends - (1,950 ) 1,950 (100.0%) Diluted adjusted net loss allocated to Pursuit common shareholders $ (26,884 ) $ (27,368 ) $ 485 1.8% Diluted weighted-average outstanding common shares 28,113 21,029 7,084 33.7% Adjusted EPS $ (0.96 ) $ (1.30 ) $ 0.34 26.2% ** Change is greater than +/- 100 percent Expand (A) Transaction-related costs and other non-recurring expenses include: (in thousands) 2025 2024 Transaction-related costs 1 $ 4,910 $ 862 Start-up costs 2 - 1,940 SG&A costs previously allocated to GES 3 - 892 Other non-recurring expenses 4 92 75 Transaction-related and other non-recurring expenses, pre-tax $ 5,002 $ 3,769 1 Transaction-related costs 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. 2 Start-up costs include expenses primarily related to the development of our new Flyover attraction in Chicago and trailing expenses related to the Flyover Toronto lease exit. 3 Represents net expenses previously allocated to/from GES that do not qualify for discontinued operations treatment. 4 Includes certain non-recoverable Jasper wildfire-related costs in 2025 and non-capitalizable fees and expenses related to our shelf registration in 2024. (B) Remeasurement of finance lease obligation attributable to Pursuit represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon finance lease obligation that is attributed to Pursuit's 51% interest in Sky Lagoon. Expand 2024 ($ in thousands) Q1 Q2 Q3 Q4 FY Revenue $ 37,231 $ 101,201 $ 182,257 $ 45,799 $ 366,488 Net income (loss) attributable to Pursuit $ (25,117 ) $ 29,311 $ 48,615 $ 315,735 $ 368,544 Net income (loss) attributable to noncontrolling interest (923 ) 1,807 7,178 (1,505 ) 6,557 Net income (loss) attributable to redeemable noncontrolling interest (203 ) (240 ) 71 (886 ) (1,258 ) Income from discontinued operations (4,475 ) (31,286 ) (9,051 ) (380,791 ) (425,603 ) Net interest expense 2,922 3,937 3,461 3,862 14,182 Income tax expense (benefit) (1,654 ) 2,772 10,507 (5,300 ) 6,325 Depreciation and amortization 9,763 11,182 11,277 10,738 42,960 Restructuring charges - 1 - 3,156 3,157 Impairment charges - - 6,110 41,462 47,572 Other expense, net 310 308 255 43 916 Start-up costs (A) 1,940 20 207 99 2,266 Transaction-related costs (B) 862 1,599 4,382 (3,968 ) 2,875 Integration costs - - 2 (2 ) - SG&A costs previously allocated to GES (C) 892 622 1,013 1,049 3,576 Other non-recurring expenses (D) 75 63 17 3,966 4,121 Remeasurement of finance lease obligation (E) 1,004 (182 ) (1,113 ) 1,167 876 Adjusted EBITDA $ (14,604 ) $ 19,914 $ 82,931 $ (11,175 ) $ 77,066 Adjusted EBITDA Margin (39.2 %) 19.7 % 45.5 % (24.4 %) 21.0 % ** Change is greater than +/- 100 percent (A) Start-up costs include expenses primarily related to the development of our new Flyover attraction in Chicago and trailing expenses related to the Flyover Toronto lease exit. (B) Transaction-related costs 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. (C) Represents net expenses previously allocated to/from GES that do not qualify for discontinued operations treatment. (D) Includes a charitable pledge to support Jasper's recovery in Q4'24 and certain non-recoverable wildfire-related costs and non-capitalizable fees and expenses related to our shelf registration in 2024. (E) Remeasurement of finance lease obligation represents the non-cash foreign exchange loss/(gain) included within operating expenses related to the periodic remeasurement of the Sky Lagoon finance lease obligation. Expand
Yahoo
18-04-2025
- Business
- Yahoo
3 Reasons to Avoid PRSU and 1 Stock to Buy Instead
Although the S&P 500 is down 10% over the past six months, Pursuit's stock price has fallen further to $30.38, losing shareholders 15.1% of their capital. This might have investors contemplating their next move. Is now the time to buy Pursuit, or should you be careful about including it in your portfolio? Get the full stock story straight from our expert analysts, it's free. Even though the stock has become cheaper, we're cautious about Pursuit. Here are three reasons why we avoid PRSU and a stock we'd rather own. With attractions ranging from glacier tours in the Canadian Rockies to an oceanfront geothermal lagoon in Iceland, Pursuit Attractions and Hospitality (NYSE:PRSU) operates iconic travel experiences, experiential marketing services, and exhibition management across North America and Europe. A company's long-term performance is an indicator of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Pursuit's demand was weak over the last five years as its sales fell at a 2.4% annual rate. This wasn't a great result and is a sign of poor business quality. We track the long-term change in earnings per share (EPS) because it highlights whether a company's growth is profitable. Sadly for Pursuit, its EPS declined by 6.3% annually over the last five years, more than its revenue. This tells us the company struggled because its fixed cost base made it difficult to adjust to shrinking demand. Growth gives us insight into a company's long-term potential, but how capital-efficient was that growth? Enter ROIC, a metric showing how much operating profit a company generates relative to the money it has raised (debt and equity). Pursuit's five-year average ROIC was negative 7.1%, meaning management lost money while trying to expand the business. Its returns were among the worst in the consumer discretionary sector. Pursuit falls short of our quality standards. Following the recent decline, the stock trades at 121.6× forward price-to-earnings (or $30.38 per share). This multiple tells us a lot of good news is priced in - we think there are better investment opportunities out there. Let us point you toward one of Charlie Munger's all-time favorite businesses. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today for free.
