Revving Up for Summer: Six Flags' Financial Loop-The-Loop, But CEO Promises Thrilling Comeback

Zinger Key Points
  • Six Flags Entertainment posts Q1 revenue of $133.291 million, missing the analyst consensus estimate of $136.594 million.
  • EPS for the quarter was $0.98, missing the estimate of $0.92.

Six Flags Entertainment SIX reported a first-quarter FY24 sales decline of 6% year-on-year to $133.291 million, missing the analyst consensus estimate of $136.594 million.

The revenue decrease was primarily attributable to a $12 million reduction in revenue related to memberships beyond the initial 12-month commitment period.

Attendance was 1.7 million guests in the quarter, a 6% Y/Y increase. Total guest spending per capita was $74.35, down 8% Y/Y.

Adjusted EBITDA for the quarter plunged 53% to $(26) million. EPS for the quarter was $0.98, missing the estimate of $0.92.

The company held $60.7 million in cash and equivalents as of March-end. Net cash used by operating activities for twelve months was $(30.5) million.

CEO and President Selim Bassoul, said, “We remain focused on delivering a world-class experience for our guests, and we are excited to launch many thrilling new rides, attractions, and immersive experiences in time for the peak summer season.”

Price Action: SIX shares traded lower by 2.99% at $24.31 at last check Thursday.

Photo via Wikimedia Commons

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsEquitiesNewsGeneralBriefsStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...