PRSU Stock Earnings Reports

Pursuit reported a strong start to 2026 with record Q1 results: revenue grew 37% to $51.6 million, driven largely by the Tabacon acquisition and resilient demand across year‑round attractions and lodges. Adjusted EBITDA improved year‑over‑year (seasonally negative in Q1) and the company reaffirmed full‑year 2026 adjusted EBITDA guidance of $123 million to $133 million (unchanged). Management highlighted solid early booking momentum for the peak summer season (roughly 45–50% of rooms already booked), continued RevPAR/ADR improvement in same‑store operations, and strong contribution from Tabacon, which is tracking ahead of expectations. Pursuit outlined a disciplined capital plan: $70–80 million of growth CapEx expected in 2026 (reduced from prior guidance due to timing shifts), roughly $300 million of organic growth investments planned through 2030 (with $200 million front‑loaded over the next two years), and continued opportunistic share repurchases (have repurchased $40.4M to date and increased authorization by $50M). The company emphasized strong balance sheet flexibility — pro forma liquidity of ~ $250M and pro forma net leverage under 1x following the pending FlyOver sale — enabling simultaneous deployment across organic projects, strategic acquisitions, and buybacks. Pursuit reiterated its Vision 2030 targets: >$265M in adjusted EBITDA by 2030 (>2x 2025) and margins above 30%, driven by continued investments in iconic attractions, lodging repositionings, and disciplined capital allocation.