Pursuit Attractions Reports Record 2025 Results, Strong 2026 Guidance, and New Share Repurchase Program
PRSU sits 32% above its 52-week low of $26.66.
Summary
Pursuit Attractions reported record 2025 financial results, provided strong 2026 guidance, and introduced ambitious 2030 targets, supported by strategic acquisitions and a new share repurchase program.
Key Events · Earnings and Guidance · PRSU
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Record 2025 Financial Performance
The company delivered record full-year 2025 revenue of $452.4 million, a 23.4% increase year-over-year, and Adjusted EBITDA of $117.1 million, representing 52.0% growth. Adjusted net income was $33.5 million ($1.18 per share) compared to $3.7 million ($(0.15) per share) in 2024.
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Strong 2026 Guidance and Ambitious 2030 Targets
Pursuit expects 2026 Adjusted EBITDA of $123 million to $133 million, reflecting approximately 9% growth at the mid-point (or 14% excluding the Flyover business). The company also introduced long-term 2030 targets, aiming for over $845 million in revenue and over $265 million in Adjusted EBITDA.
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Strategic Capital Allocation and Share Repurchases
The company repurchased $14.5 million of common stock at an average price of $33.47 per share under its $50 million authorization, with $35.5 million remaining. This follows $126 million in strategic acquisitions in 2025, including the $111 million Tabacón Thermal Resort & Spa.
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Strong Balance Sheet and Flyover Sale Confirmation
Pursuit ended 2025 with $238.1 million in total liquidity and a low net leverage ratio of 1.0x, well below its target range. The previously announced sale of its Flyover Attractions business for $78.4 million is expected to close in Spring 2026, further aligning the portfolio with core strategy.
Analysis · PRSU · Trade & Services
This filing details a robust financial performance for Pursuit Attractions, showcasing significant revenue and Adjusted EBITDA growth in 2025, alongside optimistic guidance for 2026 and ambitious long-term targets through 2030. The company's strategic capital allocation, including substantial share repurchases and key acquisitions, demonstrates a clear path for value creation. The low net leverage provides ample financial flexibility for continued growth investments and shareholder returns, reinforcing a strong investment thesis.
At the time of this filing, PRSU was trading at $35.13 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1B. The 52-week trading range was $26.66 to $39.93. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.