Six Flags stocks soar with record Q1 figures
by Tom Anstey | 27 Apr 2016
After exiting bankruptcy-court protection in May 2010, Six Flags has shown good growth post-recession as attendance and ticket sales have improved
Six Flags has reached record numbers in the stock market after posting its smallest ever loss during a traditionally tough first quarter.
During a period when its theme parks are in ‘winter mode,’ Six Flags reported earnings of US$115m (€101m, £79m), an increase of 39 per cent year-on-year, marking a US$23m (€20.3m, £15.8m) loss for the quarter.
The bump was partly attributed to an early Easter period, which helped revenue and attendance for the quarter swell.
Operating expenses for the quarter were up, with an 11 per cent increase at US$94.1m (€83m, £64.6m). Attendance also increased year-on-year by 37 per cent, with Six Flags welcoming 2.1 million guests across its 18 parks in the US, Mexico and Canada.
The park’s public listing jumped to an all-time high following the results posting, reaching US$62.69 a share.
After exiting bankruptcy-court protection in May 2010, Six Flags has shown good growth post-recession as attendance and ticket sales have improved. The company is also expanding its operations outside of North America, with plans for licensed parks in China, Vietnam and Dubai within the next decade.
“Our 2016 season is off to an excellent start with record financial performance and a 24 per cent growth in our Active Pass Base,” said Six Flags president and CEO John Duffey. “Our lineup of new attractions in 2016 is the best in the company’s history, including the first-ever integration of virtual reality technology into our roller coasters. We remain focused on delighting our guests with unique and thrilling forms of entertainment, and building shareholder value as we make steady strides toward achieving our 2017 financial target of US$600 million in earnings before interest, taxes, depreciation and amortisation.”
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Six Flags has reached record numbers in the stock market after posting its smallest ever loss during a traditionally tough first quarter. During a period when its theme parks are in ‘winter mode,’ Six Flags reported earnings of US$115m (€101m, £79m), an increase of 39 per cent year-on-year, marking a US$23m (€20.3m, £15.8m) loss for the quarter. The bump was partly attributed to an early Easter period, which helped revenue
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