Six Flags Entertainment Stock Slides As Q2 Sales Miss Estimate Due To Poor Attendance

by Shivani Kumaresan, Benzinga Staff Writer

August 11, 2022 8:16 AM | 1 min read |

Six Flags Entertainment Corp SIX reported a second-quarter FY22 sales decline of 5% year-on-year to $435 million, missing the consensus of $518.49 million.
The revenue decrease was driven by lower attendance and a $5 million reduction in sponsorship, international agreements, and accommodations revenue.
Attendance was 6.7 million guests in the quarter, a 22% Y/Y decrease. Total guest spending per capita was $63.87, up 23% Y/Y.
Adjusted EBITDA for the quarter declined 9% to $155 million.
EPS for the quarter was $0.53 versus $0.81 last year.
The company held $74.8 million in cash and equivalents as of July 3, 2022. Net cash provided by operating activities for six months was $63.2 million.
Price Action: SIX shares are trading lower by 14.80% at $21.99 in premarket on the last check Thursday.
Photo Via Wikimedia Commons

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