Six Flags reported second quarter revenue of $865 million, a 7% decrease on a reported basis due to the divestiture of several parks, missing analyst estimates of $945 million. The company posted a significant net loss of $203 million, compared to an expected profit. On a same-park basis, which excludes the divested properties, revenue increased 2.4% and Adjusted EBITDA grew 7%, indicating strength in the core operating portfolio.
Key Highlights
- Same-park attendance increased 4% year-over-year to 13.1 million visits, driven by a 10% increase in season-pass visitation.
- The active pass base on a same-park basis grew 6% compared to the prior year, driven by a 7% increase in season-to-date pass sales.
- On a reported basis, net loss widened to $203 million from a $100 million loss in the same quarter last year, as the company did not achieve expected profitability.