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# Pursuit Posts $251.5 Million Record Summer Quarter, Narrows Profit Outlook Around Same $133 Million Midpoint
- URL: https://www.bullished.co/pursuit-posts-251-5-million-record-summer-quarter-narrows-profit-outlook-around-same-133-ab3426e9/
- Published: 2026-11-04T21:37:26.000Z
- Updated: 2026-11-04T21:37:26.000Z
- Description: The lodge and attractions operator narrowed its 2026 Adjusted EBITDA range to $130 million to $136 million and reported a net leverage ratio of 0.6x.
- Author: Matteo Parrino
- Tags: SEC Filings, PRSU, Industry: Consumer Discretionary

Pursuit Attractions and Hospitality, which owns sightseeing attractions and lodges in the United States, Canada, Iceland and Costa Rica, reported [record third-quarter revenue of $251.5 million](https://www.businesswire.com/news/home/20261104573172/en/Pursuit-Reports-Record-Third-Quarter-2026-Results-and-Reaffirms-Full-Year-Adjusted-EBITDA-Guidance-Midpoint?ref=bullished.co), up 4.4% from a year earlier. It also tightened its full-year profit guidance around an unchanged $133 million midpoint, the company said Wednesday.

## A tighter range, same midpoint

Pursuit narrowed its 2026 Adjusted EBITDA guidance to [$130 million to $136 million](https://www.sec.gov/Archives/edgar/data/0000884219/000162828026070187/prsu-20260930xexx991.htm?ref=bullished.co), from $128 million to $138 million. The $133 million midpoint represents about 14% growth from 2025, the company said.

CEO David Barry said the company is "on track to deliver full year growth in line with our prior guidance range." Guidance assumes a fourth-quarter Canadian-to-U.S. dollar rate of $0.71, unchanged from before.

Capital spending is planned at $103 million to $114 million for the year, against [$75.0 million](https://www.businesswire.com/news/home/20261104573172/en/Pursuit-Reports-Record-Third-Quarter-2026-Results-and-Reaffirms-Full-Year-Adjusted-EBITDA-Guidance-Midpoint?ref=bullished.co) in 2025, with growth spending of $70 million to $80 million.

## Quarter figures

Revenue grew 6% when the Eagle Wing Tours purchase and the Flyover sale are stripped out. Same-store attraction effective ticket prices and lodging revenue per available room both rose 9%. The company credited growth across geographies, Eagle Wing Tours and yield optimization.

Adjusted EBITDA reached $125.5 million, up $8.1 million or 7%, and net income attributable to Pursuit was $82.8 million, up from $73.9 million. Adjusted net income was $85.0 million, or $3.03 per share, against $2.65 a year earlier, helped by higher Adjusted EBITDA and lower depreciation.

The third quarter carries outsized weight: in 2025, it produced $241.0 million of the company's $452.4 million in revenue.

## Deals, balance sheet and Glacier proposal

Pursuit sold its non-core Flyover business on July 31 for about $75 million and bought Eagle Wing Tours, a Vancouver Island sightseeing attraction, on July 14 for about $16 million. At September 30, total debt was $134.2 million and the net leverage ratio was 0.6x, below the company's 2.0x to 3.5x target range. Liquidity was $293.0 million: $64.3 million of cash plus $228.7 million available on a $300 million revolving credit facility.

The company's Vision 2030 plan calls for more than $300 million of organic investment, with about $200 million committed to major projects. On October 1, Pursuit submitted a proposal to the U.S. Forest Service for the Glacier View Tram near Glacier National Park, which would have two 100-passenger cabins. The project is subject to federal review and permitting.

Management holds its conference call at 5 p.m. Eastern on Wednesday.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Pursuit Attractions & Hospitality, Inc. (PRSU)](https://www.sec.gov/Archives/edgar/data/0000884219/000162828026070187/prsu-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit prsu-20260930xexx991.htm — Pursuit Attractions & Hospitality, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000884219/000162828026070187/prsu-20260930xexx991.htm?ref=bullished.co) — SEC EDGAR
- [Pursuit Reports Record Third Quarter 2026 Results and Reaffirms Full Year Adjusted EBITDA Guidance Midpoint](https://www.businesswire.com/news/home/20261104573172/en/Pursuit-Reports-Record-Third-Quarter-2026-Results-and-Reaffirms-Full-Year-Adjusted-EBITDA-Guidance-Midpoint?ref=bullished.co) — businesswire.com