Hospitality company Pursuit Attractions and Hospitality (NYSE: PRSU) reported Q3 CY2025 results exceeding the market’s revenue expectations, but sales fell by 47.1% year on year to $241 million. Its non-GAAP profit of $2.65 per share was 8% above analysts’ consensus estimates.
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Pursuit Attractions and Hospitality (PRSU) Q3 CY2025 Highlights:
- Revenue: $241 million vs analyst estimates of $225 million (47.1% year-on-year decline, 7.1% beat)
- Adjusted EPS: $2.65 vs analyst estimates of $2.45 (8% beat)
- Adjusted EBITDA: $117.4 million vs analyst estimates of $111.4 million (48.7% margin, 5.4% beat)
- EBITDA guidance for the full year is $119 million at the midpoint, above analyst estimates of $114 million
- Operating Margin: 36.5%, up from 18.6% in the same quarter last year
- Market Capitalization: $972.4 million
Company Overview
With attractions ranging from glacier tours in the Canadian Rockies to an oceanfront geothermal lagoon in Iceland, Pursuit Attractions and Hospitality (NYSE: PRSU) operates iconic travel experiences across North America and Europe.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, Pursuit Attractions and Hospitality’s demand was weak and its revenue declined by 20.2% per year. This was below our standards and is a sign of lacking business quality.
We at StockStory place the most emphasis on long-term growth, but within consumer discretionary, a stretched historical view may miss a company riding a successful new property or trend. Pursuit Attractions and Hospitality’s recent performance shows its demand remained suppressed as its revenue has declined by 51.3% annually over the last two years. 
This quarter, Pursuit Attractions and Hospitality’s revenue fell by 47.1% year on year to $241 million but beat Wall Street’s estimates by 7.1%.
Looking ahead, sell-side analysts expect revenue to grow 237% over the next 12 months, an improvement versus the last two years. This projection is eye-popping and suggests its newer products and services will spur better top-line performance.
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Operating Margin
Pursuit Attractions and Hospitality’s operating margin has risen over the last 12 months and averaged 6.3% over the last two years. The company’s higher efficiency is a breath of fresh air, but its suboptimal cost structure means it still sports paltry profitability for a consumer discretionary business.
This quarter, Pursuit Attractions and Hospitality generated an operating margin profit margin of 36.5%, up 17.9 percentage points year on year. This increase was a welcome development, especially since its revenue fell, showing it was more efficient because it scaled down its expenses.
Earnings Per Share
Revenue trends explain a company’s historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions.
Pursuit Attractions and Hospitality’s full-year EPS flipped from negative to positive over the last five years. This is encouraging and shows it’s at a critical moment in its life.
In Q3, Pursuit Attractions and Hospitality reported adjusted EPS of $2.65, up from $2.01 in the same quarter last year. This print beat analysts’ estimates by 8%. Over the next 12 months, Wall Street expects Pursuit Attractions and Hospitality’s full-year EPS of $1.23 to grow 2.4%.
Key Takeaways from Pursuit Attractions and Hospitality’s Q3 Results
We enjoyed seeing Pursuit Attractions and Hospitality beat analysts’ revenue expectations this quarter. We were also glad its full-year EBITDA guidance exceeded Wall Street’s estimates. Overall, we think this was a solid quarter with some key areas of upside. The stock remained flat at $36.41 immediately following the results.
Is Pursuit Attractions and Hospitality an attractive investment opportunity right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
