Pursuit Attractions and Hospitality, Inc. Q3 2026 Earnings Recap

Pursuit shares fell 4.4% despite record third-quarter revenue and a reaffirmed 2026 EBITDA midpoint, suggesting investors focused on weather-related visitation pressure and the challenge of replacing FlyOver’s earnings contribution. The company expects core-business growth to more than offset FlyOver’s roughly $7 million of 2026 adjusted EBITDA, but says it is still early in the 2027 booking cycle.

Key Takeaways

• Q3 revenue rose 4.4% year over year to a record $251.5 million; excluding Eagle Wing Tours and FlyOver, revenue growth was approximately 6%.
• Adjusted EBITDA increased $8.1 million to $125.5 million, with management citing higher revenue flow-through and margin expansion.
• Same-store attraction ticket revenue grew 6% to $93 million, driven by a 9% increase in effective ticket price; smoke-related poor weather hampered sightseeing visitation.
• Same-store room revenue rose 7% to $60 million, supported by 7% ADR growth and a 2-percentage-point occupancy improvement.
• Pursuit reaffirmed its 2026 adjusted EBITDA midpoint of $133 million, representing 14% growth, and narrowed guidance to $130 million–$136 million. It expects core growth to more than offset FlyOver’s approximately $7 million contribution, with about $1 million of incremental EBITDA from a full year of Eagle Wing Tours.