Six Flags reports Q2 EPS (99c) with items, consensus 82c

Reports Q2 revenue $930M, consensus $982.04M. Q2 net loss included $126M of net loss related to legacy Six Flags (FUN) operations during the three-month period. Six Flags’ Q2 results were adversely affected by unfavorable weather across most of the Company’s key markets, including prolonged periods of rain, extreme temperatures, and severe storms. “The start of the 2025 season, including our Q2 results reported today, fell significantly short of our expectations, a disappointing outcome given the solid progress we achieved post-merger with smart, early-stage initiatives coupled with a very compelling capital program designed to kickstart the 2025 season and perpetuate the momentum we had created over the second half of 2024,” said Six Flags CEO Richard Zimmerman. “The decrease in attendance in the quarter reflects a drop in single-day ticket sales, fewer sales of season passes and memberships, and lower renewal rates on season passes. Our sales cycle was negatively impacted by exogenous events such as poor weather and a challenged consumer across most of our North American markets. On the cost front, even a pull forward of marketing and maintenance expenses into the second quarter failed to produce a meaningful change in near-term demand as we sought to offset the impact of macro challenges we were facing in real time.” “We believe the early-season headwinds were transient and, therefore, will lean into the strength and resiliency of our business model over the second half,” continued Zimmerman. “That includes being focused on our priorities of growing Adjusted EBITDA, reducing net leverage, and successfully completing our integration efforts.”