Six Flags' Roller Coaster Quarter: Earnings Miss Targets, But '2024 Passes Are Ahead Of Last Year,' CEO Says

Zinger Key Points
  • Six Flags sees 5% sales growth to $293M, missing $297.5M forecast; Q4 attendance up 6%.
  • Six Flags Q4: Adjusted EPS of 18 cents vs. 27 cents expected, with a slight dip in per capita guest spending.

Six Flags Entertainment Corp SIX reported fourth-quarter (Q4) fiscal 2023 sales growth of 5% year-on-year to $293 million, missing the analyst consensus of $297.5 million.

The theme park company’s adjusted EPS of 18 cents missed the consensus of 27 cents.

Attendance was 4.3 million guests in the quarter, a 6% Y/Y increase. Total guest spending per capita was $64.19, down 1% Y/Y.

The increase in attendance was driven both by higher season pass and single-day ticket attendance during the Fall events line-up.

In-park spending per capita increased by 2% to $31.13.

The operating income fell to $18.7 million from $48.6 million Y/Y. The margin declined to 6.4% from 17.4% Y/Y.

Adjusted EBITDA for the quarter was $98.2 million versus $98.6 million Y/Y.

The company held $78 million in cash and equivalents as of Dec. 31, 2023. 

“Looking ahead to 2024, we have seen early success in sales of our 2024 passes, which are ahead of last year, and should provide a solid foundation as we head into the core operating season,” Six Flags CEO Selim Bassoul said.

Invesco S&P SmallCap Consumer Discretionary ETF PSCD has 1% exposure to the stock and gained close to 6% last month.

Price Action: SIX shares traded higher by 4.07% at $25.60 premarket on the last check Thursday.

Image: Wikimedia

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsEntertainmentNewsTop StoriesBriefssix flagsSix Flags EntertainmentStories That Mattertheme parks
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!