Pursuit Attractions and Hospitality (PRSU) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with 14.4% year-over-year revenue growth, driven by strong performance at Tabacón, recent acquisitions, and organic growth initiatives.

• Completed two strategic transactions: acquisition of Eagle Wing Tours (C$23.9 million, 6.5x EBITDA) and sale of Flyover business ($75 million, 14.5x EBITDA), sharpening focus on core attractions and hospitality.

• Increased full-year 2026 revenue and Adjusted EBITDA guidance, reflecting incremental contributions from recent transactions and positive demand indicators.

Financial highlights

• Q2 2026 revenue reached $133.5 million, up 14% year-over-year; Adjusted EBITDA was $32.7 million, up $3 million; net income attributable to shareholders was $15.2 million.

• Adjusted net income rose to $14 million from $10.1 million in the prior year; diluted EPS for Q2 2026 was $0.54–$0.55.

• Reported a pre-tax gain of $4.6 million from business interruption insurance proceeds related to the 2024 Jasper wildfire.

• Total insurance proceeds received since the 2024 Jasper wildfire are approximately $29 million.

• Operating expenses increased 21.7% year-over-year in Q2, mainly due to higher labor, supplies, and costs from Tabacón.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $485 million at the midpoint; Adjusted EBITDA guidance increased to $128–$138 million, up $5 million from prior guidance.

• Guidance reflects $6 million incremental Flyover contribution, $1–2 million from Eagle Wing Tours, and a $2 million negative FX impact.

• Organic growth capital investments of $70–$80 million planned for 2026, supporting Vision 2030 strategy.

• Underlying business performance outlook remains strong, supported by positive demand indicators for the peak summer season.

• Vision 2030 targets: >$845 million revenue, >$265 million AEBITDA, >30% margin, supported by organic growth and strategic acquisitions.