United Parks & Resorts (PRKS) FY2020 results: revenue $432 million, down 69.1% on the year
United Parks & Resorts Inc. (PRKS) reported revenue of $432 million for fiscal 2020, the year ended 31 December 2020, down 69.1% on the year before. Net income was -$312 million, and diluted earnings per share $-3.99. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$432 million
-69.1% on the year
FY2013FY2020
Operating margin
-56.0%
15.2% a year earlier
FY2013FY2020
Net income
-$312 million
FY2013FY2020
Diluted EPS
-$3.99
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
432
1,398
1,372
-69.1%
Selling, general and administrative
94.9
262
230
-63.7%
Operating income
-242
213
152
Operating margin
-56.0%
15.2%
11.1%
Interest expense
101
84.2
80.9
+19.9%
Pre-tax income
-343
129
62.7
Income tax
-30.5
39.5
17.9
Effective tax rate
n/a
30.6%
28.6%
Net income
-312
89.5
44.8
Net margin
-72.3%
6.4%
3.3%
Diluted EPS
-$3.99
$1.10
$0.52
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-121
348
294
Capital expenditure
109
195
180
-44.1%
Free cash flow
-230
153
114
Free cash flow margin
-53.2%
11.0%
8.3%
Cash from investing
-109
-195
-180
Cash from financing
624
-147
-113
Depreciation and amortisation
151
161
161
-6.2%
Share-based compensation
7.5
11.1
22.2
-32.8%
Buybacks
12.4
150
98.0
-91.7%
Dividends paid
n/a
n/a
0.3
Diluted shares, weighted
78m
81m
87m
-3.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-106
211
265
Debt
2,193
1,548
1,540
+41.6%
Operating lease liabilities
120
124
n/a
-3.4%
Finance lease liabilities
2.9
n/a
n/a
Other liabilities
356
417
310
-14.5%
Total liabilities and equity
2,566
2,301
2,116
+11.6%
Fixed assets
1,661
1,733
1,692
-4.2%
Goodwill
66.3
66.3
66.3
0.0%
Intangible assets
n/a
n/a
15.3
Cash and equivalents
434
39.9
34.1
+986.2%
Receivables
30.4
49.7
58.0
-38.8%
Inventory
30.7
33.2
35.8
-7.4%
Other assets
344
378
214
-9.0%
Total assets
2,566
2,301
2,116
+11.6%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.