Six Flags Misses Q2 Revenue by 7%, Net Loss Doubles to $203M; Same-Park EBITDA Rises 7%
FUN sits 42% above its 52-week low of $12.51.
Summary
Six Flags missed Q2 revenue estimates by a wide margin and reported a $202.6M net loss, but same-park Adjusted EBITDA rose 7% and the active pass base grew 6%, indicating core operations are strengthening.
Updates
· SEC 10-Q — The 10-Q shows cash from operations of $152.7M for the first half, capital expenditures of $149.5M, and proceeds from park sales of $257.9M.
Key Events · Earnings and Guidance · FUN
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Q2 Revenue Miss
Revenue of $864.9M missed the $933.3M consensus by 7.3%, driven by the sale of seven parks and park closures, though same-park revenue rose 2.4%.
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Net Loss Doubles
Net loss widened to $202.6M from $99.6M a year ago, primarily due to a $157.4M tax provision and higher interest expense, overshadowing operational gains.
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Same-Park EBITDA Growth
Adjusted EBITDA on a same-park basis increased 7% to $249M, reflecting higher attendance and disciplined cost management in the core portfolio.
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Active Pass Base Expansion
The active pass base grew 6% on a same-park basis, supported by strong season pass sales and expanded membership offerings, providing visibility into peak season demand.
Analysis · FUN · Trade & Services
A wide revenue miss and a net loss that more than doubled headline the quarter, yet the core portfolio tells a different story. Revenue came in at $864.9 million, falling 7% from last year on a reported basis and missing consensus estimates by a wide margin. The net loss swelled to $202.6 million, driven by a large tax provision and higher interest costs. On a same-park basis, however, revenue grew 2.4% and Adjusted EBITDA rose 7% to $249 million, reflecting improved performance from the parks that remain. The active pass base expanded 6%, signaling stronger future attendance. With $4.9 billion in net debt and $837 million in liquidity, the company remains highly leveraged but has breathing room. The mixed results — a headline miss against underlying operational improvement — create a nuanced picture for investors.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 35.7% of the 1024 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FUN was trading at $17.80 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 filing was assessed with negative market sentiment and an importance score of 8 out of 10.