Late-occurring Easter impacts Six Flags' Q1 revenue
by Tom Anstey | 26 Apr 2017
Adjusted visitor figures accounting for a later Easter break meant figures grew 5 per cent for the quarter / Shutterstock
Six Flags experienced a 13 per cent revenue dip during the first quarter of 2017 due to the late timing of the Easter holidays.
The attractions giant generated US$100m (€91.2m, £78m) over the first three months of the year compared to the US$115m (€105.7m, £89.5m) it accumulated over the same period last year.
However, the decline was related to a lower overall attendance throughout Q1 as a result of the Easter break falling in the second quarter. The timing of the holiday caused schools to schedule spring break later than usual.
Around 380,000 people visited Six Flags attractions during the Easter holiday, which will be factored into its Q2 results.
This shift also had an impact on the organisation’s profits. During the quarter Six Flags made a net loss of US$57.5m (€52.8m, £44.7m), down on the US$45m (€41.4m, £35m) loss it experienced over Q1 2016.
Despite the initial dip in revenue, Six Flags president and chief executive John Duffey said the company had made an “excellent start” to 2017, highlighting a 17 per cent increase of season passes and membership sales.
In Q1 Six Flags invested US$52m (€47.8m, £40.5m) in its parks, with US$5m (€4.6m, £3.9m) ploughed into its new 60-acre water park in Oaxtepec, Mexico.
The venue is the company’s 19th park worldwide.
Money was also spent on a line-up of new rides, including the Thunder Rapids Water Coaster – the world’s first rocket black water coaster at Six Flags Fiesta Texas, and The Joker – a 4D free-fly coaster at Six Flags New England.
Six Flags also distributed US$59m (€54.2m, £45.9m) in dividends to company shareholders over the period.
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Six Flags experienced a 13 per cent revenue dip during the first quarter of 2017 due to the late timing of the Easter holidays. The attractions giant generated US$100m (€91.2m, £78m) over the first three months of the year compared to the US$115m (€105.7m, £89.5m) it accumulated over the same period last year. However, the decline was related to a lower overall attendance throughout Q1 as a result of the
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