Six Flags Reports First Quarter 2024 Performance
Six Flags Entertainment reported first quarter Revenue of $133 million, Net Loss of $83 million, and Adjusted EBITDA loss of $26 million for 2024. Despite a decrease in total revenue compared to 2023, the company sees a promising start to the 2024 season with increased season pass sales and pre-booked group sales. The company remains focused on delivering a world-class experience for guests and is excited to launch new rides and attractions for the peak summer season.
Increased season pass sales and pre-booked group sales for the 2024 season.
Park beautification and technology initiatives resonating strongly with guests.
Confidence in ability to build upon early season momentum.
Net loss of $83 million for first quarter 2024.
Adjusted EBITDA loss of $26 million, a decrease compared to last year.
Decrease in total revenue by 6% compared to first quarter 2023.
Insights
"Our 2024 season is off to a promising start, with 2024 season pass sales through April increasing by double-digits compared to last year, pre-booked group sales approaching pre-pandemic levels, and our park beautification and technology initiatives resonating strongly with our guests," said Selim Bassoul, President and CEO. “We remain focused on delivering a world-class experience for our guests, and we are excited to launch many thrilling new rides, attractions, and immersive experiences in time for the peak summer season. As we fully ramp up our operations between now and Memorial Day, we are confident in our ability to build upon early season momentum.”
First Quarter 2024 Results
|
Three Months Ended |
||||||||||
(Amounts in millions, except per share data) |
March 31, 2024 |
|
April 2, 2023 |
|
% Change vs.
|
||||||
Total revenue |
$ |
133 |
|
|
$ |
142 |
|
|
(6 |
)% |
|
Net loss attributable to Six Flags Entertainment |
$ |
(83 |
) |
|
$ |
(70 |
) |
|
(18 |
)% |
|
Net loss per share, diluted |
$ |
(0.98 |
) |
|
$ |
(0.84 |
) |
|
(17 |
)% |
|
Adjusted EBITDA (1) |
$ |
(26 |
) |
|
$ |
(17 |
) |
|
(53 |
)% |
|
Attendance |
|
1.7 |
|
|
|
1.6 |
|
|
6 |
% |
|
Spending per capita figures: (2) |
|
|
|
|
|
||||||
Total guest spending per capita |
$ |
74.35 |
|
|
$ |
80.88 |
|
|
(8 |
)% |
|
Admissions spending per capita |
$ |
42.04 |
|
|
$ |
47.81 |
|
|
(12 |
)% |
|
In-park spending per capita |
$ |
32.31 |
|
|
$ |
33.07 |
|
|
(2 |
)% |
Total revenue for first quarter 2024 decreased
The
The company had a net loss of
Balance Sheet and Capital Allocation
As of March 31, 2024, the company had total reported debt of
On May 2, 2024, the company completed the private sale of
Cedar Fair Transaction
On November 2, 2023, the company and Cedar Fair (NYSE: FUN) entered into a definitive merger agreement to combine in a merger of equals transaction. On January 31, 2024, the Registration Statement on Form S-4 containing the proxy statement/prospectus relating to the transaction ("Registration Statement") was declared effective by the Securities and Exchange Commission ("SEC") and mailed to the company's shareholders on or about February 1, 2024. A shareholder meeting relating to the merger agreement and other related matters was held on March 12, 2024. At such meeting, the shareholders of the company approved the merger agreement and the transactions contemplated thereby. The merger is expected to close in the first half of 2024, following the receipt of regulatory approvals, including the pending antitrust review in
Conference Call
At 7:00 a.m. Central Time today, May 9, 2024, the company will host a conference call to discuss its first quarter 2024 financial performance. The call is accessible through either the Six Flags Investor Relations website at investors.sixflags.com, or by dialing 1-833-629-0614 in
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world’s largest regional theme park company with 27 parks across
___________________________________
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding (i) the adequacy of our cash flows from operations, available cash and available amounts under our credit facilities to meet our liquidity needs, including in the event of a prolonged closure of one or more of our parks, (ii) our ability to execute our strategy to significantly improve our financial performance and the guest experience, (iii) expectations regarding consumer demand for regional, outdoor, out-of-home entertainment, including for our parks, and (iv) expectations regarding our annual income tax liability and the availability and effect of net operating loss carryforwards and other tax benefits.
Forward-looking statements include all statements that are not historical facts and often use words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "may," "should," "could" and variations of such words or similar expressions. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; economic impact of political instability and conflicts globally, including the war in
Footnotes
(1) |
See the following financial statements and Note 4 to those financial statements for a discussion of Adjusted EBITDA (a non-GAAP financial measure) and its reconciliation to net income (loss). |
|
(2) |
The company uses certain per capita operational metrics that measure the performance of our business on a per guest basis and believe that these metrics provide relevant and useful information for investors because they assist in comparing our operating performance on a consistent basis, make it easier to compare our results with those of other companies and our industry and allows investors to review performance in the same manner as our management. |
|
•Total guest spending per capita is the total revenue generated from our guests, on a per guest basis, through admissions and in-park spending. Total guest spending per capita is calculated by dividing the sum of Park admissions revenue and Park food merchandise and other revenue by total attendance. |
||
•Admissions revenue per capita is the total revenue generated from our guests, on a per guest basis, to enter our parks. Admissions revenue per capita is calculated by dividing Park admission revenue by total attendance. |
||
•Non-admissions revenue per capita is the total revenue generated from our guests, on a per guest basis, on items sold within our parks, such as food, games and merchandise. Non-admission revenue per capita is calculated by dividing Park food, merchandise and other revenue by total attendance. |
||
(3) |
“Cash operating costs” includes operating expenses (excluding depreciation and amortization) and selling, general and administrative expenses (excluding stock-based compensation). "Cash operating costs" also excludes |
Statement of Operations Data
|
Three Months Ended |
|
Twelve Months Ended |
|||||||||||||
(Amounts in thousands, except per share data) |
March 31, 2024 |
|
April 2, 2023 |
|
March 31, 2024 |
|
April 2, 2023 |
|||||||||
Park admissions |
$ |
70,801 |
|
|
$ |
76,303 |
|
|
$ |
738,155 |
|
|
$ |
738,731 |
|
|
Park food, merchandise and other |
|
54,397 |
|
|
|
52,786 |
|
|
|
615,647 |
|
|
|
569,482 |
|
|
Sponsorship, international agreements and accommodations |
|
8,093 |
|
|
|
13,101 |
|
|
|
63,202 |
|
|
|
54,106 |
|
|
Total revenues |
|
133,291 |
|
|
|
142,190 |
|
|
|
1,417,004 |
|
|
|
1,362,319 |
|
|
Operating expenses (excluding depreciation and amortization shown separately below) |
|
113,955 |
|
|
|
108,870 |
|
|
|
628,037 |
|
|
|
589,811 |
|
|
Selling, general and administrative expenses (excluding depreciation and amortization shown separately below) (1) |
|
42,517 |
|
|
|
44,247 |
|
|
|
246,153 |
|
|
|
173,483 |
|
|
Costs of products sold |
|
11,123 |
|
|
|
9,765 |
|
|
|
111,755 |
|
|
|
107,796 |
|
|
Depreciation and amortization |
|
29,500 |
|
|
|
29,114 |
|
|
|
115,472 |
|
|
|
117,189 |
|
|
Impairment of park assets |
|
— |
|
|
|
— |
|
|
|
22,956 |
|
|
|
16,943 |
|
|
Loss on disposal of assets |
|
1,394 |
|
|
|
2,435 |
|
|
|
15,352 |
|
|
|
8,462 |
|
|
Operating (loss) income |
|
(65,198 |
) |
|
|
(52,241 |
) |
|
|
277,279 |
|
|
|
348,635 |
|
|
Interest expense, net |
|
41,800 |
|
|
|
36,302 |
|
|
|
163,754 |
|
|
|
140,362 |
|
|
Loss on debt extinguishment |
|
— |
|
|
|
— |
|
|
|
13,982 |
|
|
|
17,533 |
|
|
Other (income) expense, net |
|
(1,040 |
) |
|
|
(832 |
) |
|
|
9,000 |
|
|
|
(228 |
) |
|
(Loss) income before income taxes |
|
(105,958 |
) |
|
|
(87,711 |
) |
|
|
90,543 |
|
|
|
190,968 |
|
|
Income tax (benefit) expense |
|
(23,232 |
) |
|
|
(17,852 |
) |
|
|
16,910 |
|
|
|
48,221 |
|
|
Net (loss) income |
$ |
(82,726 |
) |
|
$ |
(69,859 |
) |
|
$ |
73,633 |
|
|
$ |
142,747 |
|
|
Less: Net income attributable to noncontrolling interests |
|
— |
|
|
|
— |
|
|
|
(47,501 |
) |
|
|
(44,651 |
) |
|
Net (loss) income attributable to Six Flags Entertainment Corporation |
$ |
(82,726 |
) |
|
$ |
(69,859 |
) |
|
$ |
26,132 |
|
|
$ |
98,096 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Weighted-average common shares outstanding: |
|
|
|
|
|
|
|
|||||||||
Basic: |
|
84,166 |
|
|
|
83,207 |
|
|
|
83,651 |
|
|
|
83,620 |
|
|
Diluted: |
|
84,486 |
|
|
|
83,207 |
|
|
|
83,790 |
|
|
|
84,615 |
|
|
|
|
|
|
|
|
|
|
|||||||||
(Loss) earnings per average common share outstanding: |
|
|
|
|
|
|
|
|||||||||
Basic: |
$ |
(0.98 |
) |
|
$ |
(0.84 |
) |
|
$ |
0.31 |
|
|
$ |
1.17 |
|
|
Diluted: |
$ |
(0.98 |
) |
|
$ |
(0.84 |
) |
|
$ |
0.31 |
|
|
$ |
1.16 |
|
____________________________________________________________________________ | ||
(1) |
Includes stock-based compensation of |
|
As of |
|||||||||||
(Amounts in thousands, except share data) |
March 31, 2024 |
|
December 31,
|
|
April 2, 2023 |
|||||||
ASSETS |
|
|
|
|
|
|||||||
Current assets: |
|
|
|
|
|
|||||||
Cash and cash equivalents |
$ |
60,702 |
|
|
$ |
77,585 |
|
|
$ |
64,749 |
|
|
Accounts receivable, net |
|
53,523 |
|
|
|
62,660 |
|
|
|
45,462 |
|
|
Inventories |
|
39,188 |
|
|
|
31,624 |
|
|
|
41,016 |
|
|
Prepaid expenses and other current assets |
|
102,275 |
|
|
|
80,897 |
|
|
|
83,639 |
|
|
Total current assets |
|
255,688 |
|
|
|
252,766 |
|
|
|
234,866 |
|
|
Property and equipment, net: |
|
|
|
|
|
|||||||
Property and equipment, at cost |
|
2,770,068 |
|
|
|
2,733,094 |
|
|
|
2,621,518 |
|
|
Accumulated depreciation |
|
(1,472,781 |
) |
|
|
(1,447,861 |
) |
|
|
(1,380,846 |
) |
|
Total property and equipment, net |
|
1,297,287 |
|
|
|
1,285,233 |
|
|
|
1,240,672 |
|
|
Goodwill |
|
659,618 |
|
|
|
659,618 |
|
|
|
659,618 |
|
|
Intangible assets, net of accumulated amortization |
|
344,135 |
|
|
|
344,141 |
|
|
|
344,158 |
|
|
Right-of-use operating leases, net |
|
146,023 |
|
|
|
134,857 |
|
|
|
156,376 |
|
|
Other assets, net |
|
35,131 |
|
|
|
34,859 |
|
|
|
22,502 |
|
|
Total assets |
$ |
2,737,882 |
|
|
$ |
2,711,474 |
|
|
$ |
2,658,192 |
|
|
|
|
|
|
|
|
|||||||
LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
|
|
|||||||
Current liabilities: |
|
|
|
|
|
|||||||
Accounts payable |
$ |
44,539 |
|
|
$ |
27,235 |
|
|
$ |
43,513 |
|
|
Accrued compensation, payroll taxes and benefits |
|
21,304 |
|
|
|
18,957 |
|
|
|
14,417 |
|
|
Self-insurance reserves |
|
63,743 |
|
|
|
64,605 |
|
|
|
34,032 |
|
|
Accrued interest payable |
|
42,752 |
|
|
|
28,704 |
|
|
|
27,527 |
|
|
Other accrued liabilities |
|
69,949 |
|
|
|
73,087 |
|
|
|
60,032 |
|
|
Deferred revenue |
|
165,414 |
|
|
|
127,556 |
|
|
|
152,096 |
|
|
Short-term borrowings |
|
230,000 |
|
|
|
180,000 |
|
|
|
170,000 |
|
|
Current portion of long-term debt |
|
56,867 |
|
|
|
56,867 |
|
|
|
— |
|
|
Short-term lease liabilities |
|
10,986 |
|
|
|
10,514 |
|
|
|
12,040 |
|
|
Total current liabilities |
|
705,554 |
|
|
|
587,525 |
|
|
|
513,657 |
|
|
Noncurrent liabilities: |
|
|
|
|
|
|||||||
Long-term debt |
|
2,129,642 |
|
|
|
2,128,612 |
|
|
|
2,281,841 |
|
|
Long-term lease liabilities |
|
171,713 |
|
|
|
155,335 |
|
|
|
166,562 |
|
|
Other long-term liabilities |
|
27,195 |
|
|
|
27,263 |
|
|
|
28,477 |
|
|
Deferred income taxes |
|
161,139 |
|
|
|
189,700 |
|
|
|
162,973 |
|
|
Total liabilities |
|
3,195,243 |
|
|
|
3,088,435 |
|
|
|
3,153,510 |
|
|
|
|
|
|
|
|
|||||||
Redeemable noncontrolling interests |
|
520,998 |
|
|
|
520,998 |
|
|
|
521,395 |
|
|
|
|
|
|
|
|
|||||||
Stockholders' deficit: |
|
|
|
|
|
|||||||
Preferred stock, |
|
— |
|
|
|
— |
|
|
|
— |
|
|
Common stock, |
|
2,116 |
|
|
|
2,112 |
|
|
|
2,082 |
|
|
Capital in excess of par value (2) |
|
1,133,551 |
|
|
|
1,131,208 |
|
|
|
1,122,429 |
|
|
Accumulated deficit (2) |
|
(2,044,329 |
) |
|
|
(1,961,603 |
) |
|
|
(2,070,530 |
) |
|
Accumulated other comprehensive loss, net of tax |
|
(69,697 |
) |
|
|
(69,676 |
) |
|
|
(70,694 |
) |
|
Total stockholders' deficit |
|
(978,359 |
) |
|
|
(897,959 |
) |
|
|
(1,016,713 |
) |
|
Total liabilities and stockholders' deficit |
$ |
2,737,882 |
|
|
$ |
2,711,474 |
|
|
$ |
2,658,192 |
|
|
Year Ended |
|||||||
(Amounts in thousands) |
March 31, 2024 |
|
April 2, 2023 |
|||||
Cash flows from operating activities: |
|
|
|
|||||
Net loss |
$ |
(82,726 |
) |
|
$ |
(69,859 |
) |
|
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|||||
Depreciation and amortization |
|
29,500 |
|
|
|
29,114 |
|
|
Stock-based compensation (2) |
|
2,347 |
|
|
|
3,314 |
|
|
Interest accretion on notes payable |
|
211 |
|
|
|
278 |
|
|
Amortization of debt issuance costs |
|
1,155 |
|
|
|
1,566 |
|
|
Loss on disposal of assets |
|
1,394 |
|
|
|
2,435 |
|
|
Deferred income tax benefit |
|
(26,970 |
) |
|
|
(20,672 |
) |
|
Other |
|
(1,651 |
) |
|
|
30 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|||||
Decrease in accounts receivable - trade |
|
8,861 |
|
|
|
7,426 |
|
|
Increase in inventories, prepaid expenses and other current assets |
|
(29,608 |
) |
|
|
(18,672 |
) |
|
(Increase) decrease in deposits and other assets |
|
(1,307 |
) |
|
|
2,834 |
|
|
(Increase) decrease in ROU operating leases |
|
(11,328 |
) |
|
|
2,847 |
|
|
Increase in accounts payable, deferred revenue and accrued liabilities and other long-term liabilities |
|
49,995 |
|
|
|
12,070 |
|
|
Increase in operating lease liabilities |
|
15,605 |
|
|
|
1,977 |
|
|
(Decrease) increase in accrued interest payable |
|
14,048 |
|
|
|
(10,957 |
) |
|
Net cash used in operating activities |
$ |
(30,474 |
) |
|
$ |
(56,269 |
) |
|
|
|
|
|
|||||
Cash flows from investing activities: |
|
|
|
|||||
Additions to property and equipment |
|
(37,218 |
) |
|
|
(25,488 |
) |
|
Property insurance recoveries |
|
— |
|
|
|
481 |
|
|
Proceeds from asset sales |
|
227 |
|
|
|
— |
|
|
Net cash used in investing activities |
$ |
(36,991 |
) |
|
$ |
(25,007 |
) |
|
|
|
|
|
|||||
Cash flows from financing activities: |
|
|
|
|||||
Repayment of borrowings |
|
(10,000 |
) |
|
|
(10,000 |
) |
|
Proceeds from borrowings |
|
60,000 |
|
|
|
80,000 |
|
|
Payment of debt issuance costs |
|
— |
|
|
|
(970 |
) |
|
Payment of tax withholdings on equity-based compensation through shares withheld |
|
(120 |
) |
|
|
(104 |
) |
|
Reduction in finance lease liability |
|
(260 |
) |
|
|
(247 |
) |
|
Net cash provided by financing activities |
$ |
49,620 |
|
|
$ |
68,679 |
|
|
|
|
|
|
|||||
Effect of exchange rate on cash |
$ |
962 |
|
|
$ |
(2,776 |
) |
|
|
|
|
|
|||||
Net decrease in cash and cash equivalents |
$ |
(16,883 |
) |
|
$ |
(15,373 |
) |
|
Cash and cash equivalents at beginning of period |
$ |
77,585 |
|
|
$ |
80,122 |
|
|
Cash and cash equivalents at end of period |
$ |
60,702 |
|
|
$ |
64,749 |
|
|
|
|
|
|
|||||
Supplemental cash flow information |
|
|
|
|||||
Cash paid for interest |
$ |
27,508 |
|
|
$ |
46,209 |
|
|
Cash paid for income taxes |
$ |
3,743 |
|
|
$ |
311 |
|
Definition and Reconciliation of Non-GAAP Financial Measures
We prepare our financial statements in accordance with
However, because these non-GAAP financial measures are not determined in accordance with GAAP, they are susceptible to varying calculations, and not all companies calculate these measures in the same manner. As a result, these non-GAAP financial measures as presented may not be directly comparable to a similarly titled non-GAAP financial measure presented by another company. These non-GAAP financial measures are presented as supplemental information and not as alternatives to any GAAP financial measures. When reviewing a non-GAAP financial measure, we encourage our investors to fully review and consider the related reconciliation as detailed below.
The following tables set forth a reconciliation of net income to Adjusted EBITDA for the three-month periods and twelve-month periods ended March 31, 2024, and April 2, 2023:
|
Three Months Ended |
|
Twelve Months Ended |
|||||||||||||
(Amounts in thousands, except per share data) |
March 31,
|
|
April 2, 2023 |
|
March 31,
|
|
April 2, 2023 |
|||||||||
Net (loss) income |
$ |
(82,726 |
) |
|
$ |
(69,859 |
) |
|
$ |
73,633 |
|
|
$ |
142,747 |
|
|
Income tax (benefit) expense |
|
(23,232 |
) |
|
|
(17,852 |
) |
|
|
16,910 |
|
|
|
48,221 |
|
|
Other (income) expense, net |
|
(1,040 |
) |
|
|
(832 |
) |
|
|
9,000 |
|
|
|
(228 |
) |
|
Loss on debt extinguishment |
|
— |
|
|
|
— |
|
|
|
13,982 |
|
|
|
17,533 |
|
|
Interest expense, net |
|
41,800 |
|
|
|
36,302 |
|
|
|
163,754 |
|
|
|
140,362 |
|
|
Loss on disposal of assets |
|
1,394 |
|
|
|
2,435 |
|
|
|
15,352 |
|
|
|
8,462 |
|
|
Depreciation and amortization |
|
29,500 |
|
|
|
29,114 |
|
|
|
115,472 |
|
|
|
117,189 |
|
|
Impairment of park assets |
|
— |
|
|
|
— |
|
|
|
22,956 |
|
|
|
16,943 |
|
|
Stock-based compensation |
|
2,347 |
|
|
|
3,314 |
|
|
|
10,420 |
|
|
|
13,310 |
|
|
Merger-related transaction costs |
|
5,561 |
|
|
|
— |
|
|
|
20,947 |
|
|
|
— |
|
|
Self-insurance reserve adjustment (2) |
|
— |
|
|
|
— |
|
|
|
37,558 |
|
|
|
— |
|
|
Modified EBITDA (3) |
$ |
(26,396 |
) |
|
$ |
(17,378 |
) |
|
$ |
499,984 |
|
|
$ |
504,539 |
|
|
Third party interest in EBITDA of certain operations (4) |
|
— |
|
|
|
— |
|
|
|
(47,501 |
) |
|
|
(44,651 |
) |
|
Adjusted EBITDA (3) |
$ |
(26,396 |
) |
|
$ |
(17,378 |
) |
|
$ |
452,483 |
|
|
$ |
459,888 |
|
____________________________________________________________________________
(2) |
Amount relates to an adjustment to our self-insurance reserves resulting from a change in accounting estimate that increased our ultimate loss indications on both identified claims and incurred but not reported claims, as discussed in more detail above in our review of second quarter 2023 results. We have excluded this adjustment from our reported Adjusted EBITDA because we believe (i) the change in actuarial assumptions and related change in accounting estimate that gave rise to the adjustment is unusual and not expected to be recurring; (ii) excluding it provides more meaningful comparisons to our historical results; and (iii) excluding it provides more meaningful comparisons to other companies in our industry. |
|
(3) |
"Modified EBITDA,” a non-GAAP measure, is defined as our consolidated income (loss) from continuing operations: excluding the following: the cumulative effect of changes in accounting principles, discontinued operations gains or losses, income tax expense or benefit, restructure costs or recoveries, reorganization items (net), other income or expense, gain or loss on early extinguishment of debt, equity in income or loss of investees, interest expense (net), gain or loss on disposal of assets, gain or loss on the sale of investees, amortization, depreciation, stock-based compensation, fresh start accounting valuation adjustments and other significant non-recurring items. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. Management uses non-GAAP measures for budgeting purposes, measuring actual results, allocating resources and in determining employee incentive compensation. We believe that Modified EBITDA provides relevant and useful information for investors because it assists in comparing our operating performance on a consistent basis, makes it easier to compare our results with those of other companies in our industry as it most closely ties our performance to that of our competitors from a park-level perspective and allows investors to review performance in the same manner as our management. |
|
|
"Adjusted EBITDA," a non-GAAP measure, is defined as Modified EBITDA minus the interests of third parties in the Modified EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta and Six Flags Over Texas). Adjusted EBITDA is approximately equal to “Parent Consolidated Adjusted EBITDA” as defined in our secured credit agreement, except that Parent Consolidated Adjusted EBITDA excludes Adjusted EBITDA from equity investees that is not distributed to us in cash on a net basis and has limitations on the amounts of certain expenses that are excluded from the calculation. Adjusted EBITDA as defined herein may differ from similarly titled measures presented by other companies. Our board of directors and management use Adjusted EBITDA to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA. We believe that Adjusted EBITDA is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. In addition, the instruments governing our indebtedness use Adjusted EBITDA to measure our compliance with certain covenants and, in certain circumstances, our ability to make certain borrowings. Adjusted EBITDA, as computed by us, may not be comparable to similar metrics used by other companies in our industry. |
|
(4) |
Represents interests of non-controlling interests in the Adjusted EBITDA of Six Flags Over Georgia, Six Flags Over Texas and Six Flags White Water Atlanta. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509443905/en/
Evan Bertrand
Vice President, Investor Relations and Treasurer
+1-972-595-5180
investorrelations@sftp.com
Source: Six Flags Entertainment
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