Pursuit Attractions & Hospitality, Inc. (PRSU) · Nov 4, 2026 · Earnings

Pursuit earnings beat as 2026 EBITDA guidance stays intact

Beat — Adjusted EPS $3.03 vs ~$3.01 consensus; revenue $251.5M vs ~$247.1M consensus

Pursuit earnings modestly beat Q3 consensus, with revenue growth and higher adjusted EPS offset by unchanged full-year EBITDA guidance.

Pursuit is in the middle of a Refresh, Build, Buy expansion strategy: it operates attractions and lodges in iconic destinations and is investing more than $300 million through 2030 to expand capacity and improve existing assets. This filing says the strategy is still executing, but it does not materially reset the outlook.

The quarter cleared the published bar, though not by much. Q3 revenue rose 4.4% year over year to $251.5 million, ahead of published consensus near $247.1 million, while adjusted EPS of $3.03 was just above consensus around $3.01. The company also said underlying revenue grew 6% excluding the Eagle Wing acquisition and Flyover divestiture, suggesting the quarter’s growth was not solely acquisition-driven.

Q3 2026Q3 2025Consensus / prior
Revenue (Financial results)$251.5M (+4.4%)$241.0M~$247.1M
Adjusted EPS (Adjusted EPS)$3.03 (+14.3%)$2.65~$3.01
Adjusted EBITDA (Adjusted EBITDA)$125.5M (+6.9%)$117.4M
FY26 adjusted EBITDA guidance (Guidance)$130M–$136M$117.1M actual$133M midpoint prior

Management preserved the earnings framework rather than raising it. The full-year adjusted EBITDA midpoint remains $133 million, but the range narrowed from $128 million–$138 million to $130 million–$136 million. That is a confidence signal and removes some downside range, but it is not incremental upside versus the prior midpoint.

The growth story is advancing, with materially heavier investment ahead. Pursuit expects $70 million–$80 million of 2026 growth capex versus $41.6 million in 2025, including lodge renovations, new cabins and added cruise capacity. Eagle Wing Tours adds a new acquisition platform, while the proposed Glacier View Tram could extend the portfolio, but that project remains subject to federal review and permitting.

The reported profit improvement is real but partly aided by below-the-line items. Adjusted EPS and adjusted EBITDA improved, while lower depreciation also helped adjusted net income. The company also recorded a $4.6 million Jasper wildfire insurance gain in 2026 and had a $2.8 million loss on the Flyover sale, so GAAP earnings are noisier than the operating trend.

Bottom line: This was a modest earnings beat that confirms Pursuit is executing against its growth plan, but unchanged midpoint guidance means the filing strengthens the existing story rather than rewriting it. The main new variable is how effectively the much larger investment program converts into future operating growth.

What to watch next

Q4 report and 2027 outlook, early 2027

Original filing on SEC EDGAR

Pursuit earnings beat as 2026 EBITDA guidance stays intact | PRSU Stock News
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