Pursuit Attractions and Hospitality (PRSU) Q2 2025 earnings summary

Executive summary

• Achieved strong double-digit year-over-year growth in Q2 2025 for revenue, income from continuing operations, and adjusted EBITDA, driven by robust guest demand, higher ticket prices, and strategic acquisitions including Tabacón Thermal Resort & Spa.

• Raised full-year 2025 guidance for revenue and adjusted EBITDA, reflecting strong demand, favorable FX trends, and the impact of recent acquisitions.

• Completed the sale of the GES Business, transforming into a pure-play attractions and hospitality company and rebranding as Pursuit Attractions and Hospitality, Inc.

• Peak activity remains highly seasonal, with 77% of annual revenue earned in Q2 and Q3.

• Continued focus on delivering authentic guest experiences in iconic destinations, supported by a team of 4,350 employees.

Financial highlights

• Q2 2025 revenue reached $116.7 million, up 15.4% year-over-year, with strong growth in ticket, room, food & beverage, and retail revenues.

• Adjusted EBITDA for Q2 2025 was $29.7 million, up 49.2% year-over-year; adjusted net income was $10.1 million, up from $0.2 million.

• Net income attributable to continuing operations was $4.5 million, up from a $0.4 million loss in Q2 2024.

• Diluted EPS from continuing operations was $0.16 in Q2 2025 versus $0.04 in Q2 2024; total diluted EPS was $0.20 versus $0.98.

• Attraction ticket revenue grew 22% to $53.2 million, with 11% growth in same-store effective ticket pricing.

Outlook and guidance

• Full-year 2025 adjusted EBITDA guidance raised to $108–$118 million, a $10 million increase from prior guidance, including $7 million from FX and $3 million from the Tabacón acquisition.

• Revenue guidance implies ~20% growth at the midpoint versus 2024; growth capex expected at $38–$43 million.

• Management expects existing liquidity to be sufficient for at least the next 12 months and longer term.

• Guidance assumes continued strong demand, recovery in Jasper, and positive FX trends.

• Planned 2025 capital expenditures are $71–76 million, with $38–43 million allocated to growth projects.