Pursuit Reports Record First Quarter 2026 Results

About this update from Pursuit Attractions And Hospitality, Inc.

Reaffirms Full Year Guidance and Announces $40.4 Million in Total Share Repurchases DENVER, May 06, 2026 --( BUSINESS WIRE )--Pursuit Attractions and Hospitality, Inc. ("Pursuit") (NYSE: PRSU) today reported strong first quarter 2026 results, reaffirmed full year guidance, and announced significant share repurchases, reflecting sustained demand for its iconic destinations, a disciplined focus on guest experience, and confidence in its strategy and operating model. "We delivered record first quarter results and continue to execute against our Vision 2030 strategy with a consistent and disciplined playbook that has delivered double-digit compound annual growth over the past decade," said David Barry, Pursuit president and chief executive officer. "We are delivering business growth through our relentless focus on team member and guest experience, and we’re investing in ourselves through low-risk growth investments in well-instrumented businesses to make experiences better and guests happier, which in turn drives profitability. Additionally, we continue to actively pursue acquisitions to broaden our portfolio of experiential infrastructure in iconic locations while opportunistically repurchasing stock at compelling valuations." First Quarter 2026 Highlights First Quarter 2026 Financial Performance * Refer to Table Two of this press release for a discussion and reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure. In addition to the commentary above, further information regarding Pursuit's financial results, trends, and outlook are available in a supplemental earnings presentation, which can be accessed on the " Investors " section of the company's website, and in the financial tables accompanying this press release. March 31, 2026 Balance Sheet and Liquidity Highlights ** Cash and debt amounts shown here are inclusive of Flyover cash and debt balances of $0.9 million and $13.9 million, respectively, which have been classified as held for sale on our balance sheet. Flyover Sale for $78.4 Million Expected to Close in May 2026 On January 21, 2026, Pursuit entered into an agreement to sell its Flyover Attractions business to Brogent Technologies Inc. for approximately $78.4 million, subject to customary adjustments, representing an implied multiple of approximately 15x Flyover’s 2025 Adjusted EBITDA contribution. The transaction is expected to close in May 2026, subject to regulatory approvals and customary closing conditions. This divestiture further sharpens Pursuit’s strategic focus on its core portfolio of iconic sightseeing attractions and destination-anchored hospitality in the world’s most compelling destinations. The proceeds will be used to reduce revolver debt and reinvest into high-return organic growth projects and strategic acquisitions aligned with Pursuit’s core strategy. 2026 Outlook "We are reaffirming our full year revenue and Adjusted EBITDA guidance based on our solid first quarter and sustained positive indicators of consumer demand across our experiences and destinations for the balance of the year. We remain confident in our 2026 outlook," said Barry. The company’s guidance is below. Adjusted EBITDA guidance of $123 million to $133 million represents growth of approximately 9% at the mid-point relative to 2025. Full year 2025 includes $38.6 million of revenue and $5.2 million of Adjusted EBITDA contribution from Flyover, while the full year 2026 guidance assumes the Flyover business is sold in May 2026. When adjusting to exclude Flyover results from both 2025 and 2026, Pursuit’s mid-point guidance reflects growth of approximately 10% in revenue and 14% in Adjusted EBITDA. During 2026, Pursuit expects to invest approximately $70 million to $80 million in organic growth capital expenditures, as it moves forward with major planned investments that have a total commitment of approximately $200 million. These projects are part of the company’s Vision 2030 strategy to deploy more than $300 million into high-returning organic growth investments in well-instrumented existing businesses that enhance the guest experience. The company expects to achieve an effective Adjusted EBITDA multiple of less than 7x by 2030 from these investments, with outsized organic growth beginning in 2028 as certain projects are completed. The company’s 2026 growth capex guidance range has been reduced relative to its prior guidance due to a shift in expected timing of cash outlays as it continues to actively work through approvals and planning. Select 2026 Organic Growth Investments (Subject to Approvals) Include: Pursuit’s guidance is based on certain assumptions, including (1) organic growth from continued guest experience improvements, demand for authentic experiential travel in iconic places, and focus on revenue and cost management, (2) approximately $7 million to $8 million of incremental Adjusted EBITDA from the Tabacón acquisition completed on July 1, 2025, (3) approximately $0.5 million of Adjusted EBITDA contribution from Flyover assuming the sale closes in May 2026, (4) minimal impact from multi-year growth capital expenditures in 2026, and (5) an exchange rate of $0.73 between the Canadian Dollar and the U.S. Dollar for Pursuit’s operations in Canada. *Pursuit has not quantitatively reconciled its guidance for Adjusted EBITDA to the company’s most comparable GAAP financial measure because certain reconciling items that impact this metric, including provision for income taxes, interest expense, restructuring or impairment charges, transaction-related costs, and start-up costs have not occurred, are out of the company’s control, or cannot be reasonably predicted. Accordingly, reconciliations to the nearest GAAP financial measure are not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact Pursuit’s results as reported under GAAP. Conference Call Details Management will host a conference call to review first quarter 2026 results on Wednesday, May 6, 2026, at 5 p.m. (Eastern Time). A live audio webcast of the call will be available in listen-only mode through the " Events & Presentations " section of Pursuit’s investor website, where the company will also post its earnings press release and a supplemental earnings presentation prior to the call. Management will refer to this presentation during the call. The live call can also be accessed by dialing (800) 715-9871 or (646) 307-1963 and entering the access code 26219. To avoid wait time and bypass speaking with an operator to join the call, participants can pre-register using the following registration link: https://registrations.events/direct/Q4I262197 . After registering, a calendar invitation will be sent that includes dial-in information as well as unique codes for entry into the live call. The company recommends that you register in advance to ensure access for the full call. A replay of the call will be available on Pursuit’s website shortly after the conference call and, for a limited time, by dialing (800) 770-2030 and entering the access code 26219. About Pursuit Pursuit Attractions and Hospitality, Inc. (NYSE: PRSU) is an attractions and hospitality company that owns and operates a collection of inspiring and unforgettable experiences in iconic destinations in the United States, Canada, Iceland, and Costa Rica. Pursuit’s elevated hospitality experiences include world-class point-of-interest attractions and distinctive lodges, along with integrated restaurants, retail and transportation that enable visitors to discover and connect with stunning national parks and renowned global travel locations. For more information, visit pursuit.com . Forward-Looking Statements This press release contains a number of forward-looking statements. Words, and variations of words, such as "will," "can," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "estimate," "anticipate," "deliver," "seek," "aim," "potential," "target," "outlook," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements include those that address activities, events or developments that Pursuit or its management believes or anticipates may occur in the future, including all statements regarding the company’s expectations concerning the travel industry and the markets in which Pursuit operates; management’s expectations concerning future financial performance, including its 2026 and long-term outlook and the related underlying assumptions; its growth plans and strategies, including with respect to investments, growth capital expenditures and acquisitions; its ability to opportunistically return capital to shareholders through share repurchases; its expectations concerning the Flyover transaction and other statements that are not historical fact. These forward-looking statements are subject to a host of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from those in the forward-looking statements. Important factors that could cause actual results to differ materially from those described in Pursuit’s forward-looking statements include, but are not limited to, the following: For a more complete discussion of the risks and uncertainties that may affect the company’s business or financial results, please see Item 1A, "Risk Factors," of Pursuit’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), as well as any future reports the company may file with the SEC. The company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release except as required by applicable law or regulation. Availability of Information on Pursuit Website Pursuit routinely uses its investor relations website ( investors.pursuit.com ) to post presentations to investors and other important information, including information that may be material. Accordingly, Pursuit encourages investors and others interested in Pursuit to review the information it makes public on its investor relations website. PURSUIT ATTRACTIONS AND HOSPITALITY, INC. ("PURSUIT") TABLE TWO - NON-GAAP FINANCIAL MEASURES (UNAUDITED) IMPORTANT DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES This document includes the presentation of "Adjusted Net Income (Loss)", "Adjusted EPS", "Adjusted EBITDA", and "Adjusted EBITDA Margin", which are supplemental to results presented under accounting principles generally accepted in the United States of America ("GAAP") and may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures are utilized by management to facilitate period-to-period comparisons and analysis of Pursuit’s operating performance and should be considered in addition to, but not as substitutes for, other similar measures reported in accordance with GAAP. The use of these non-GAAP financial measures is limited, compared to the most comparable GAAP measures, because they do not consider a variety of items affecting Pursuit’s consolidated financial performance as reconciled below. Because these non-GAAP measures do not consider all items affecting Pursuit’s consolidated financial performance, a user of Pursuit’s financial information should consider net income (loss) attributable to Pursuit as an important measure of financial performance because it provides a more complete measure of the Company’s performance. Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are considered useful operating metrics, in addition to net income (loss) attributable to Pursuit, as potential variations arising from non-operational expenses/income are eliminated, thus resulting in additional measures considered to be indicative of Pursuit’s performance. Management believes that the presentation of Adjusted Net Income (Loss), Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin provides useful information to investors regarding Pursuit’s results of operations for trending, analyzing, and benchmarking the performance and value of Pursuit’s business. Additionally, the company calculates the impact of foreign exchange rate variances by converting non-United States Dollar results using comparative period exchange rates and determining the change from prior period reported results.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260506413398/en/ Contacts Carrie Long or Michelle Porhola Investor Relations Contacts [email protected] (602) 207-2681 Jessica Harcombe Fleming Media Contact [email protected] (403) 498-8420

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