$PRSU

Pursuit Attractions & Hospitality, Inc.

CIK:0000884219|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 133,493	$ 116,743	$ 185,135	$ 154,322
Costs and expenses:
Cost of food, beverage, and retail products sold	9,587	8,871	12,575	11,156
Operating expenses (exclusive of depreciation and amortization shown separately below)	71,374	58,669	113,586	93,575
Selling, general, and administrative expenses	20,788	19,623	40,001	40,309
Depreciation and amortization	9,650	11,073	19,326	22,041
Interest expense, net	3,172	1,928	5,827	3,392
Other (income) expense, net	(2,728)	5,962	(1,894)	6,319
Total costs and expenses	111,843	106,126	189,421	176,792
Income (loss) from continuing operations before income taxes	21,650	10,617	(4,286)	(22,470)
Income tax expense	4,208	3,021	2,989	1,155
Income (loss) from continuing operations	17,442	7,596	(7,275)	(23,625)
(Loss) income from discontinued operations, net of tax	(318)	1,135	(339)	1,004
Net income (loss)	17,124	8,731	(7,614)	(22,621)
Net income attributable to non-redeemable noncontrolling interests	(1,952)	(3,085)	(2,152)	(2,869)
Net income (loss) attributable to Pursuit	$ 15,172	$ 5,646	$ (9,766)	$ (25,490)
Basic income (loss) per common share:
Continuing operations attributable to Pursuit common stockholders	$ 0.56	$ 0.16	$ (0.34)	$ (0.94)
Discontinued operations attributable to Pursuit common stockholders	(0.01)	0.04	(0.01)	0.04
Net income (loss) attributable to Pursuit common stockholders	$ 0.55	$ 0.2	$ (0.35)	$ (0.9)
Weighted-average outstanding common shares	27,702	28,256	27,779	28,184
Diluted income (loss) per common share:
Continuing operations attributable to Pursuit common stockholders	$ 0.55	$ 0.16	$ (0.34)	$ (0.94)
Discontinued operations attributable to Pursuit common stockholders	(0.01)	0.04	(0.01)	0.04
Net income (loss) attributable to Pursuit common stockholders	$ 0.54	$ 0.2	$ (0.35)	$ (0.9)
Weighted-average outstanding and potentially dilutive common shares	27,978	28,392	27,779	28,184
Ticket, rooms, transportation, and other services revenue [Member]
Revenue:
Total revenue	$ 102,211	$ 88,063	$ 143,440	$ 117,797
Food, beverage, and retail products revenue [Member]
Revenue:
Total revenue	$ 31,282	$ 28,680	$ 41,695	$ 36,525

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (7,614)	$ (22,621)
Loss (income) from discontinued operations, net of tax	339	(1,004)
Adjustments to reconcile net loss to net cash used in operating activities attributable to continuing operations
Depreciation and amortization	19,326	22,041
Share-based compensation expense	3,639	4,261
Other non-cash items, net	459	378
Change in operating assets and liabilities (excluding the impacts of acquisitions and dispositions):
Contract liabilities	21,366	19,816
Receivables	(15,757)	(15,781)
Prepaid assets	(14,946)	(11,658)
Inventories	(7,653)	(6,728)
Other assets and liabilities, net	(10,188)	8,488
Net cash used in operating activities attributable to continuing operations	(11,029)	(2,808)
Cash flows from investing activities
Capital expenditures	(36,609)	(28,262)
Other investing activities	527	6,581
Net cash used in investing activities attributable to continuing operations	(36,082)	(21,681)
Cash flows from financing activities
Proceeds from borrowings	260,873	75,456
Payments on debt and finance lease obligations	(166,668)	(65,383)
Repurchases of common stock	(32,714)	0
Other financing activities	(9,226)	(5,131)
Net cash provided by financing activities attributable to continuing operations	52,265	4,942
Total cash provided by (used in) continuing operations	5,154	(19,547)
Net cash used in operating activities attributable to discontinued operations	0	(11,881)
Net cash provided by investing activities attributable to discontinued operations	0	1,485
Total cash used in discontinued operations	0	(10,396)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash attributable to continuing operations	59	2,268
Net change in cash, cash equivalents, and restricted cash	5,213	(27,675)
Cash, cash equivalents, and restricted cash, beginning of year	31,694	56,057
Cash, cash equivalents, and restricted cash, end of year	$ 36,907	$ 28,382

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 33,864	$ 31,118	$ 24,742
Accounts receivable, net of allowances	21,153	9,151	24,167
Inventories	17,775	12,105	17,104
Prepaid assets	22,030	8,676	20,455
Current assets held for sale	120,224	0	0
Other current assets	1,684	2,606	33,809
Total current assets	216,730	63,656	120,277
Property and equipment, net	590,266	649,330	558,389
Other investments and assets	3,775	79	7,532
Operating lease right-of-use assets	9,288	26,297	27,191
Goodwill	127,112	150,414	108,295
Other intangible assets, net	73,158	75,649	71,415
Total Assets	1,020,329	965,425	893,099
Current liabilities
Accounts payable	17,573	21,002	29,616
Contract liabilities	34,945	14,478	33,433
Accrued compensation	10,682	11,782	15,811
Current liabilities held for sale	49,834	0	0
Other current liabilities	21,886	31,528	36,735
Total current liabilities	134,920	78,790	115,595
Long-term debt and finance lease obligations	234,082	155,020	82,401
Long-term operating lease obligations	6,884	35,339	35,996
Other deferred items and liabilities	35,481	35,892	36,974
Total liabilities	411,367	305,041	270,966
Commitments and contingencies
Pursuit stockholders' equity:
Common stock, $1.50 par value, 200,000 shares authorized, 27,323, 28,009, and 28,270 shares outstanding, respectively	47,413	47,413	47,413
Additional capital	679,341	685,714	675,085
Retained earnings	47,480	57,246	8,207
Accumulated other comprehensive loss	(45,579)	(41,803)	(43,354)
Common stock in treasury, at cost, 4,286, 3,611, and 3,350 shares, respectively	(192,403)	(166,737)	(158,989)
Total Pursuit stockholders' equity	536,252	581,833	528,362
Non-redeemable noncontrolling interests	72,710	78,551	93,771
Total stockholders’ equity	608,962	660,384	622,133
Total Liabilities and Stockholders' Equity	$ 1,020,329	$ 965,425	$ 893,099