This week, we're looking at Six Flags' latest earnings. Q3 revenue rose 1.4%, and attendance was flat; year-to-date, attendance is up 1.5%, and revenue is up almost 3%. That is with October attendance down 9% due to weather and the Goliath closures.
The strategy hasn't changed: more passholders, more on regional passes, and more visits per pass. Cross-park visits are running about five times last year’s level, and about three points of attendance moved from single-day tickets to passes and memberships.
The day before earnings, Six Flags announced its holiday dates and Black Friday deals: new live shows for Holiday in the Park at Magic Mountain, a Snoopy ice show at Knott’s, and Holiday in the Park returning to Great Adventure and Over Georgia after both were canceled last year.
Meanwhile, United Parks reported the same week. Attendance fell 4.7% through nine months, adjusted EBITDA fell 5%, and net income fell 28%, with per-capita spending up 2.8%. SeaQuest is delayed to 2027, and the company teased a new ride announcement at IAAPA Expo and a Middle East project.
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0:00 Setting the Stage for Industry Analysis
2:15 Six Flags Earnings: A Macro View
5:10 Adjusting for Asset Sales in Revenue Data
10:38 Strategic Timing: Holiday Events and Earnings
16:54 The Road Ahead: Deleveraging and Future Growth
23:40 United Parks: A Study in Contrasts
