Six Flags Reports Worse-Than-Feared Quarterly Loss On Weak Attendance
Six Flags Entertainment Corp posted a wider-than-expected loss in
the fourth quarter, as the world’s largest regional theme park
company's revenues plunged 58% year-over-year on restrictions due
to the pandemic. Shares surged 4.6% to close at $45.50 on Feb. 24.
Six Flags (SIX) incurred a loss of $1.00 per share in 4Q, compared
to the $0.89 loss per share estimated by analysts. Total sales
generated in the quarter amounted to $109 million, topping
analysts’ expectations of $86.59 million. The total attendance in
4Q was 2.2 million guests, down 65.5% year-over-year. The company’s
adjusted EBITDA was a loss of $39 million, compared to income of
$72 million in the prior-year period.