Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at United Parks & Resorts (NYSE: PRKS) and its peers.

The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Leisure facilities companies own and operate theme parks, fitness centers, bowling alleys, and other venue-based entertainment destinations, generating revenue from admissions, memberships, and on-site spending. Tailwinds include consumer preference for experiential spending, tourism recovery, and technology-enhanced guest experiences that support premium pricing. Headwinds are notable: high fixed costs, such as real estate, labor, and maintenance, make profitability highly sensitive to attendance fluctuations during economic slowdowns. Weather, pandemics, and safety incidents can disrupt operations unpredictably. Rising construction and labor costs inflate expansion budgets, while competition from at-home entertainment alternatives and other experiential options limits pricing power in many markets.

The 10 consumer discretionary - leisure facilities stocks we track reported a slower Q4. As a group, revenues missed analysts’ consensus estimates by 3.5% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.9% since the latest earnings results.

United Parks & Resorts (NYSE: PRKS)

Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts (NYSE: PRKS) is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.

United Parks & Resorts reported revenues of $373.5 million, down 2.8% year on year. This print fell short of analysts’ expectations by 0.8%. Overall, it was a softer quarter for the company with a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates.

"Our fiscal 2025 results did not meet our expectations,. While the consumer environment was uneven and our results were impacted by negative international tourism trends and volatile weather during certain peak visitation periods, we should have delivered better results, particularly on the cost side of the income statement. We have moved decisively to address our less than optimal cost management and have updated and focused our plans and investments for 2026 designed to drive attendance and guest spending across our parks. These include a compelling lineup of new rides, shows and attractions, an updated events calendar, an expanded concert lineup, new and upgraded food and retail locations, a revamped and enhanced marketing plan and strategy as well as other investments that we expect will drive demand and spending across our parks," said Marc Swanson, Chief Executive Officer of United Parks & Resorts Inc.

Unsurprisingly, the stock is down 8.6% since reporting and currently trades at $30.86.

Read our full report on United Parks & Resorts here, it’s free.

Best Q4: Live Nation (NYSE: LYV)

Owner of Ticketmaster and operator of music festival EDC, Live Nation (NYSE: LYV) is a company specializing in live event promotion, venue management, and ticketing services for concerts and shows.

Live Nation reported revenues of $6.31 billion, up 11.1% year on year, outperforming analysts’ expectations by 3.5%. The business had a very strong quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.2% since reporting. It currently trades at $153.98.

Is now the time to buy Live Nation? Access our full analysis of the earnings results here, it’s free.

Vail Resorts (NYSE: MTN)

Founded by two Aspen, Colorado ski patrol guides, Vail Resorts (NYSE: MTN) is a mountain resort company offering luxury experiences in over 30 locations across the globe.

Vail Resorts reported revenues of $1.08 billion, down 4.7% year on year, falling short of analysts’ expectations by 0.6%. It was a softer quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

The stock is flat since the results and currently trades at $134.00.

Read our full analysis of Vail Resorts’s results here.

Lucky Strike (NYSE: LUCK)

Born from the transformation of traditional bowling alleys into modern entertainment destinations, Lucky Strike (NYSE: LUCK) operates bowling alleys and other entertainment venues with upscale amenities, arcade games, and food and beverage services across North America.

Lucky Strike reported revenues of $306.9 million, up 2.3% year on year. This number missed analysts’ expectations by 2%. It was a slower quarter as it also logged a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.

Lucky Strike pulled off the highest full-year guidance raise among its peers. The stock is up 7% since reporting and currently trades at $7.84.

Read our full, actionable report on Lucky Strike here, it’s free.

Xponential Fitness (NYSE: XPOF)

Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness (NYSE: XPOF) is a boutique fitness brand offering diverse and specialized exercise experiences.

Xponential Fitness reported revenues of $82.96 million, flat year on year. This print surpassed analysts’ expectations by 12.3%. Aside from that, it was a slower quarter as it produced full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.

Xponential Fitness achieved the biggest analyst estimates beat among its peers. The stock is down 28.5% since reporting and currently trades at $5.76.

Read our full, actionable report on Xponential Fitness here, it’s free.

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