Six Flags Tops Q1 On Higher Attendance, Guest Spending

Six Flags Entertainment Corp SIX reported first-quarter FY22 sales growth of 68% Y/Y to $138 million, beating the consensus of $122.26 million.
The revenue increase was driven by higher attendance and guest spending per capita.
Attendance was 1.7 million guests in the quarter, a 25% Y/Y increase. Total guest spending per capita was $75.46, up 34% Y/Y.
The increase in attendance was driven by increased operating days versus the prior year, which was negatively impacted by pandemic-related closures and operating restrictions.
Adjusted EBITDA loss was $(16) million versus a loss of $(46) million in the same quarter last year.
EPS loss of $(0.76) beat the analyst consensus of $(1.04).
The company held $252 million in cash and equivalents as of April 3, 2022. Net cash used in operating activities for the quarter was $(55.7) million.
Price Action: SIX shares closed lower by 4.35% at $29.70 on Wednesday.
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