The following is a summary of the Parks! America, Inc. (PRKA) Q2 2024 Earnings Call Transcript:
Financial Performance:
Parks! America reported a revenue of $1.9 million in Q2 2024, a 4.4% increase over the same period in the previous year.
The Missouri and Texas Parks reported solid performances with increases in revenue, however, Georgia Park's performance decreased compared to last year.
The company reported a net loss of $1 million or $0.01 per share for this quarter, showing a slight increase compared to the net loss of $846,000 in Q2 2023.
Business Progress:
Parks! America has implemented a more dynamic pricing model across its three parks in an effort to optimize demand during both peak and off-peak periods.
The company reported a continued increase in season pass sales and is working on boosting group business sales.
The 2024 capital plan focuses on a strategic rebuild of the Georgia Park, with projected spending of approx. $1.4 million, fully funded from existing cash to drive long-term sustainable growth.
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