Every material Form 8-K Pursuit Attractions & Hospitality has filed with the SEC since December 18, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Pursuit Attractions and Hospitality reported third quarter 2026 revenue of $251.5 million, up 4.4% year over year, with net income attributable to the company of $82.8 million, up from $73.9 million. The company reaffirmed its 2026 Adjusted EBITDA midpoint of $133 million and narrowed its range to $130 million to $136 million from $128 million to $138 million.
Q3 2026 revenue was $251.5 million, up 4.4% year over year; Adjusted EBITDA was $125.5 million, up $8.1 million or 7%
Adjusted EPS was $3.03 for Q3 2026, compared with $2.65 in Q3 2025
2026 Adjusted EBITDA guidance range narrowed to $130 million to $136 million; midpoint of $133 million reaffirmed
Pursuit Attractions and Hospitality reported second-quarter 2026 revenue of $133.5 million, up 14.3% year over year, and net income attributable to Pursuit of $15.2 million, compared with $5.6 million a year earlier. The company raised its full-year 2026 Adjusted EBITDA guidance by $5 million to $128 million to $138 million, citing the Eagle Wing Tours acquisition and Flyover contributions before its July 31 sale, partly offset by exchange rate assumptions.
Q2 2026 revenue was $133.5 million, up 14.3% year over year; net income attributable to Pursuit was $15.2 million versus $5.6 million in Q2 2025.
Q2 2026 Adjusted EBITDA was $32.7 million, a $3.0 million improvement from Q2 2025, and Adjusted net income was $14.0 million ($0.50 per share) versus $10.1 million ($0.36 per share).
Full-year 2026 Adjusted EBITDA guidance is $128 million to $138 million, an increase of $5 million, including approximately $6 million from Flyover and approximately negative $2 million from revised exchange rate assumptions.
The Flyover Attractions sale to Brogent Technologies Inc. for $75 million closed on July 31, 2026.
Pursuit Attractions and Hospitality reported first quarter 2026 revenue of $51.6 million, up 37.4% from a year earlier, and a net loss attributable to Pursuit of $24.9 million, narrower than the $31.1 million loss in the first quarter of 2025. The company reaffirmed its full year 2026 revenue and Adjusted EBITDA guidance and raised its share repurchase authorization by $50 million, so shareholders get higher sales and a smaller loss, though the company was still loss-making in the quarter.
Q1 2026 revenue was $51.6 million versus $37.6 million in Q1 2025; net loss attributable to Pursuit was $24.9 million ($0.90 per share) versus $31.1 million
Adjusted EBITDA was negative $14.9 million versus negative $17.5 million a year earlier
Full year 2026 guidance reaffirmed: revenue of $465 million at the mid-point and Adjusted EBITDA of $123 million to $133 million
Share repurchases totaled $40.4 million as of May 6, 2026; the Board approved a $50 million increase on May 1, 2026, leaving $59.6 million available
Pursuit Attractions and Hospitality reported full-year 2025 revenue of $452.4 million, up 23.4% from 2024, and Adjusted EBITDA of $117.1 million, up $40.1 million. GAAP net income attributable to Pursuit fell to $22.7 million from $368.5 million, mainly because 2024 included the gain on the GES sale. The company guided to 2026 Adjusted EBITDA of $123 million to $133 million and set 2030 targets, and it expects to close the $78.4 million Flyover sale in spring 2026.
Full-year 2025 revenue was $452.4 million, up 23.4%; fourth-quarter revenue was $57.1 million, up 24.6%.
Full-year 2025 net income attributable to Pursuit was $22.7 million, or $0.80 per diluted share, versus $368.5 million in 2024; fourth-quarter net loss was $25.7 million.
2026 Adjusted EBITDA guidance is $123 million to $133 million, about 9% growth at the mid-point versus 2025.
Pursuit expects to sell Flyover Attractions to Brogent Technologies for about $78.4 million, with closing expected in spring 2026.
Pursuit Attractions and Hospitality agreed on January 21, 2026 to sell its Flyover flying theater attractions business to Flyover Attractions B.V. for $78.4 million in cash, subject to post-closing adjustments. Closing depends on customary conditions, including required regulatory approvals, and either party may terminate if closing has not occurred by May 21, 2026.
Purchase price is $78.4 million in cash, subject to post-closing adjustments for debt, cash, working capital and certain unpaid expenses
Company would receive a $10.0 million termination fee from the Buyer if the Buyer fails to close in specified circumstances
Outside termination date is May 21, 2026; the Buyer has obtained a representations and warranties insurance policy
Full Purchase Agreement will be filed as an exhibit to the Form 10-K for the year ended December 31, 2025
Pursuit Attractions and Hospitality adopted an Executive Severance Plan and amended its bylaws on December 4, 2025. The plan sets severance terms for CEO David Barry and CFO Michael Heitz, and the bylaws change stockholder meeting, nomination and forum provisions.
Barry (CEO) is a Tier 1 covered employee: 24 months base salary as lump sum on a qualifying termination, and 2 times target bonus within a change-in-control period.
Heitz (CFO) is a Tier 2 covered employee: 12 months base salary outside a change in control, and 18 months as lump sum plus 100% of target bonus within a change-in-control period.
Restated bylaws, effective immediately, allow remote-only stockholder meetings and set Delaware Chancery as exclusive forum for certain claims, with federal courts for Securities Act claims.
Barry participation agreement, dated December 9, 2025, replaces his October 20, 2024 severance agreement.
Pursuit Attractions and Hospitality reported third quarter 2025 revenue of $241.0 million, up 32.2% from a year earlier, and net income attributable to Pursuit of $73.9 million, versus $48.6 million. The company raised its full-year 2025 adjusted EBITDA guidance to $116 million to $122 million, an increase of $6 million at the midpoint, which points to higher expected profit for shareholders.
Q3 2025 revenue was $241.0 million, up $58.8 million from $182.3 million in Q3 2024.
Diluted EPS attributable to Pursuit was $2.60, versus $1.65; adjusted EBITDA was $117.4 million, versus $82.9 million.
Full-year 2025 adjusted EBITDA guidance was raised to $116 million to $122 million from $108 million to $118 million.
Q3 results included a $4.2 million pre-tax gain from business interruption insurance proceeds tied to the 2024 Jasper wildfire.
On September 26, 2025, Pursuit Attractions and Hospitality entered into a Second Amendment to its Credit Agreement with Bank of America, N.A., as administrative agent. The amendment increases revolving commitments by $100.0 million to $300.0 million, extends the maturity date to September 25, 2030, and adds a Costa Rican subsidiary as a co-borrower. The company will file the full amendment as an exhibit to its Form 10-Q for the quarter ended September 30, 2025.
Revolving commitments increased by $100.0 million, to a total of $300.0 million
Maturity date extended to September 25, 2030
Removed the additional 10 basis point credit spread adjustment on SOFR borrowings
Inversiones Turísticas Arenal S.A. added as co-borrower, with other affiliates as guarantors
Pursuit reported second-quarter 2025 revenue of $116.7 million, up 15.4% from a year earlier, and adjusted EBITDA of $29.7 million, up 49.2%. Net income attributable to Pursuit fell to $5.6 million from $29.3 million, a change the company attributes mainly to the 2024 sale of its GES business, and it also took a pre-tax pension termination charge of approximately $5.4 million. The company raised its full-year 2025 adjusted EBITDA guidance to $108 million to $118 million from $98 million to $108 million and approved a new share repurchase authorization of up to $50 million.
Q2 2025 revenue $116.7 million, up $15.5 million (15.4%) from $101.2 million
Net income attributable to Pursuit $5.6 million vs. $29.3 million; diluted EPS $0.20 vs. $0.98
Full-year 2025 adjusted EBITDA guidance raised to $108 million to $118 million, up $10 million
Board approved a new share repurchase authorization of up to $50 million on August 4, 2025
Pursuit Attractions and Hospitality, Inc. agreed on July 1, 2025 to acquire all shares of Inversiones Turísticas Arenal, S.A., owner and operator of Tabacón Thermal Resort and Spa in Arenal, Costa Rica, for $111.0 million in cash. The company funded the purchase with borrowings under its revolving credit facility, and the price is subject to post-closing adjustments and escrow holdbacks for indemnification claims.
Purchase price: $111.0 million in cash, subject to post-closing adjustments
Target: Tabacón Thermal Resort and Spa, Arenal, Costa Rica
Funding: borrowings under the company's revolving credit facility
Share Purchase Agreement dated July 1, 2025, filed as Exhibit 10.1
Pursuit Attractions and Hospitality, Inc. appointed Michael Bosco as Senior Vice President and Chief Accounting Officer, effective July 1, 2025, succeeding Leslie Striedel, who is stepping down effective June 30, 2025. At its May 22, 2025 annual meeting, shareholders elected all five director nominees, ratified Deloitte & Touche LLP as auditor for 2025, and approved executive compensation on an advisory basis.
Michael Bosco, 39, joins as SVP and Chief Accounting Officer; he starts employment June 16, 2025, with a $285,000 base salary and a 35% target bonus
Leslie Striedel steps down as Chief Accounting Officer effective June 30, 2025
Shareholders ratified Deloitte & Touche LLP for 2025: 26,685,799 for and 419,312 against
Shareholders approved executive compensation: 25,591,612 for and 528,948 against; 96.13% of outstanding shares were represented at the meeting
Pursuit Attractions and Hospitality reported first-quarter 2025 results on May 8, 2025, with revenue up 0.9% to $37.6 million. The net loss attributable to Pursuit widened to $31.1 million from $25.1 million, and adjusted EBITDA was negative $17.5 million versus negative $14.6 million a year earlier. The company reaffirmed its full-year 2025 guidance of Adjusted EBITDA of $98 million to $108 million, so shareholders saw higher revenue alongside wider losses.
Revenue was $37.6 million, up $0.3 million (0.9%) from $37.2 million in the first quarter of 2024.
Net loss attributable to Pursuit was $31.1 million, compared with $25.1 million a year earlier; diluted loss per share was $1.11 versus $1.29.
Adjusted EBITDA was negative $17.5 million, compared with negative $14.6 million, with transaction-related costs of $4.9 million cited in SG&A.
Full-year 2025 guidance was reaffirmed: Adjusted EBITDA of $98 million to $108 million and revenue up low-double digits.
Pursuit reported fourth-quarter and full-year 2024 results on March 11, 2025, after completing the $535 million sale of its GES business on December 31, 2024. Full-year revenue rose 4.6% to $366.5 million, but consolidated adjusted EBITDA fell 2.3% to $77.1 million, and the loss from continuing operations was $57.1 million, including $47.6 million of impairment charges. Reported net income of $368.5 million was driven mainly by the gain on the GES sale, and the company guided to 2025 adjusted EBITDA of $98 million to $108 million.
Full-year 2024 revenue was $366.5 million, up 4.6%; fourth-quarter revenue was $45.8 million, up 8.5%.
Full-year net income attributable to Pursuit was $368.5 million, mainly from a $421.9 million pre-tax gain on the GES sale; the loss from continuing operations was $57.1 million.
Consolidated adjusted EBITDA was $77.1 million, down 2.3%, which the company attributed in part to an adjusted EBITDA decline of approximately $15 million from the Jasper wildfire.
For 2025, the company expects adjusted EBITDA of $98 million to $108 million and revenue up low-double digits.
Pursuit Attractions and Hospitality completed the sale of its GES business on December 31, 2024, for aggregate consideration of $535 million, including a $25 million deferred payment due one year after closing. The company used the transaction to repay about $393 million under its prior credit agreement and entered into a new $200 million revolving credit facility on January 3, 2025, maturing in 2030. The filing does not state the financial effect of the sale on reported earnings.
GES business sold to TL Voltron Purchaser, LLC on December 31, 2024, for $535 million ($510 million base price plus $25 million deferred).
About $393 million of obligations under the prior credit agreement dated July 30, 2021 were repaid in full on December 31, 2024, and related liens released.
New $200 million revolving credit facility with Bank of America, N.A. as administrative agent, dated January 3, 2025, maturing January 3, 2030.
Viad Corp completed the sale of its GES business to Truelink Capital for $535 million and is relaunching as Pursuit Attractions and Hospitality, Inc., with David Barry becoming President and CEO effective December 31, 2024. The company also reduced its board to seven directors, converted its 5.5% Series A Preferred Stock into about 6.7 million common shares, and will trade under the ticker PRSU starting January 2, 2025.
GES sale price of $535 million: $510 million paid at closing and $25 million due one year after closing, subject to adjustments
Cash proceeds were used to retire the 2021 Credit Facility, with excess cash added to the balance sheet
Steven W. Moster stepped down as CEO and director; he will serve as an advisor through March 1, 2025, with a $1,930,000 lump-sum severance payable on advisory-period expiration or qualifying termination
135,000 preferred shares converted into about 6.7 million common shares, bringing common shares outstanding to about 28 million
Viad Corp's board appointed Michael Heitz as chief financial officer, effective upon the filing of the 2024 Form 10-K and contingent on the closing of the sale of its GES business. CFO Ellen Ingersoll will step down on the same terms and serve in an advisory role through March 31, 2025, and Chief Accounting Officer Leslie Striedel will leave effective June 30, 2025, also contingent on the GES closing. The filing names Viad Corp as registrant and describes Heitz as CFO of its Pursuit business.
Michael Heitz, 37, previously held finance roles at Vail Resorts, Inc. from October 2014 to November 2024.
Heitz's pay includes a $400,000 base salary, a 75% target bonus and a $500,000 long-term equity award on January 2, 2025.
Ingersoll's departure is treated as a termination without cause, with severance subject to a release of claims.
Chief Accounting Officer Leslie Striedel steps down effective June 30, 2025; a succession plan will be announced later.
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