Six Flags Q2 Revenue, EBITDA Miss Estimates Despite Attendance Gain
FUN sits 44% above its 52-week low of $12.51.
Summary
Six Flags missed Q2 revenue and EBITDA estimates by wide margins — revenue came in at $864.9M vs. $933.3M consensus, and adjusted EBITDA was $243.1M vs. $282.3M expected. Attendance rose 4% on higher season pass and membership sales, but per capita spending fell 1%, and the company posted a $202.6M net loss. The active pass base grew 6% on a same-park basis, and management pointed to higher-tier pass adoption as a recurring revenue driver. This follows the Q1 report that showed revenue growth but a net loss from impairment and park sale charges. The Q2 miss raises questions about pricing power and cost leverage heading into the peak summer season.
At the time of this announcement, FUN was trading at $18.02 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $12.51 to $31.25. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.