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. Six Flags Entertainment Corporation (NYSE: SIX), the worlds largest regional theme park company and the largest operator of waterparks in North America, today reported third quarter 2022 financial results. RUMOR - Six Flags to Announce New Rides for 2021. We are cashless at the gate. These non-GAAP financial measures are presented as supplemental information and not as alternatives to any GAAP financial measures. Required fields are marked *. Arlington, Texas August 25, 2022 Six Flags Over Texas, the Thrill Capital of Texas, today announced a robust lineup of special events during the 2022 and 2023 seasons. Nelson took a trip during the July 4th fest, and noticed that Splashwater Falls looked different. Adjustments to reconcile net income to net cash used in operating activities: Other, including loss (gain) on disposal of assets, Change in inventories, prepaid expenses and other current assets, Change in accounts payable, deferred revenue, accrued liabilities and other long-term liabilities, Net cash provided by operating activities, Purchase of identifiable intangible assets, Redemption premium payments on debt extinguishment, Payment of tax withholdings on equity-based compensation through shares withheld, Purchase of redeemable noncontrolling interest, Distributions to noncontrolling interests, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Definition and Reconciliation of Non-GAAP Financial Measures. No hidden fees.. As the largest regional theme park company in the world, Six Flags creates thrilling, memorable experiences within our portfolio of regional parks, delivered by a diverse and empowered team, through industry-leading innovation and . The higher In-park spending reflects the companys in-park pricing initiatives. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. For more information, visit www.sixflags.com. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. We believe that these non-GAAP financial measures provide important and useful information for investors to facilitate a comparison of our operating performance on a consistent basis from period to period and make it easier to compare our results with those of other companies in our industry. No need for fans to be spinning out waiting for Harry Styles ' next single any longer. Non-admission revenue per capita is calculated by dividing Park food, merchandise and other revenue by total attendance. 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. 5-min read. ARLINGTON, Texas -- (BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX), the world's largest regional theme park company and the largest operator of waterparks in North America, today reported third quarter 2022 financial results. The pop star confirmed Sunday (April 30) that the next featured track from his 2022 record Harry's House . The definition for each of these non-GAAP financial measures is set forth below in the notes to the reconciliation tables. While it will take time to achieve our ambitious goals, we are encouraged by our recent progress, with guest spending per capita up nearly 50 percent year-to-date relative to 2019, and with attendance trends and season pass sales significantly accelerating in October and early November. The call is accessible through either the Six Flags Investor Relations website at investors.sixflags.com or by dialing 1-855-889-1976 in the United States or +1-937-641-0558 outside the United States and requesting the Six Flags earnings call or conference ID 3749243. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and revenue from memberships beyond the initial 12-month commitment periodin first quarter 2021, the company did not recognize membership revenue from members whose home park was closed due to the pandemic. Learn more about us here. We have reoriented our culture to prioritize the guest in everything we do, and we fundamentally believe this will drive significant and sustainable long-term earnings growth., (Amounts in millions, except per share data), Net loss attributable to Six Flags Entertainment, Total revenue for first quarter 2022 increased $56 million, or 68%, compared to first quarter 2021, driven by higher attendance and guest spending per capita. The decrease was primarily due to the deferral of revenue in the prior year period from guests whose benefits were extended from 2020 into 2021 due to the pandemic. Amounts recorded as Other expense, net include certain non-recurring costs incurred in conjunction with changes made to our organizational structure in December 2021 and the transformation plan initiated in early 2020. A replay of the call will be available on the companys investor relations site https://investors.sixflags.com. Real-time updates and all local stories you want right in the palm of your hand. +1-972-595-5180 Based on our current federal net operating loss carryforwards, we anticipate paying minimal federal income taxes in 2022 and do not anticipate becoming a full cash taxpayer until at least 2024. The reduction in operating costs was driven by full-time headcount reductions, fewer total employee hours worked, and lower advertising costs. In the first nine months 2022, the company invested $73 million in new capital, net of insurance recoveries. Six Flags Over Texas will make over one of its classic dark rides for 2022. See copyright and trademarks. In first quarter 2022, the company invested $29 million in new capital, net of insurance recoveries. The income per share was $1.39 compared to an income per share of $1.80 in third quarter 2021, driven by lower revenues partially offset by a reduction in expenses. Nelson took a trip during the July 4th fest, and noticed that Splashwater Falls looked different. Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. ARLINGTON, Texas, October 17, 2022--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: SIX) today announced it will release third quarter financial results before the market opens on Thursday, November 10, 2022. In addition, due to the adoption of a fiscal reporting calendar commencing January 1, 2021, there were three fewer days in the first nine months 2022 compared to the first nine months 2021, which accounted for 89 thousand additional guests in the first nine months 2021. . For more information, please see our was the 2022 . This is unofficial, I just. April 15 Six Flags Great America re-opens for the 2022 season. The new ride would be a dual-tracked, launched roller coaster called "Robin & Superboy: The Escape", featuring linear induction motor (LIM) technology for its launch system. 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. Management uses non-GAAP measures for budgeting purposes, measuring actual results, allocating resources and in determining employee incentive compensation. Starting in June, the park will have extended hours Friday through Sunday from 11 a.m. to 7 p.m. SIX FLAGS and all related indicia are trademarks of Six Flags Theme parks, Inc.TM; 2022. See copyright and trademarks. We use cookies to optimize our website and our service. Dr. Diabolical's Cliffhanger is a Dive Coaster manufactured by Bolliger & Mabillard that opened on July 30, 2022 at Six Flags Fiesta Texas. Adjusted EBITDA, as computed by us, may not be comparable to similar metrics used by other companies in our industry. Launching at Six Flags Fiesta Texas, our state-of-the-art esix facility, powered by Coca-Cola, provides an immersive gaming experience you won't find anywhere else. Its compact layout will occupy a space of 79 feet by 162 feet and will have a height requirement of 36 inches. During the second quarter 2021, the company received $11.3 million related to one of its terminated international development agreements in China. The lower attendance was driven by an increase in ticket prices and elimination of free tickets and heavily-discounted product offerings. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. 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. (Amounts in thousands, except per share data), Sponsorship, international agreements and accommodations, Operating expenses (excluding depreciation and amortization shown separately below), Selling, general and administrative expenses (excluding depreciation, amortization, and stock-based compensation shown separately below), Less: Net income attributable to noncontrolling interests, Net income attributable to Six Flags Entertainment Corporation. The most recent figure published by an industry analyst group was from the 2021 AECOM Theme Index report, which estimated Six Flags Great America had 2,675,000 visitors in 2021 -- 19th place among North American theme parks. Events, Presentations & Company Announcements, Six Flags Comments on Investor Presentation, Six Flags Amends Cooperation Agreement with H Partners, Six Flags Announces Third Quarter 2022 Performance, Six Flags Sets Date to Announce Third Quarter 2022 Earnings, Six Flags Executive Elected to IAAPA Board, Six Flags Honored with Three Golden Ticket Awards, Six Flags Announces Second Quarter 2022 Performance, Six Flags Announces Board of Directors Changes, Six Flags Offers Thrills, Inclusivity and Safety for Everyone, Six Flags Sets Date to Announce Second Quarter 2022 Earnings. The Six Flags 2022 New Attractions was a media event detailing all new 2022 Six Flags attractions across 2021 and 2022. The higher In-park spending reflects the companys in-park pricing initiatives and positive consumer spending trends. We recommend the Diamond Pass for the best parking! 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. The main announcement: Pirates of Speelunker Cave, isa re-imagined boat-like ride that will place guests squarely in the middle of a pirate treasure hunt thwarted by resident Speelunkers. This will open in early 2022. ARLINGTON, Texas--(BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX) today announced it will release fourth quarter and full year financial results before the market opens on Thursday, March 2, 2023.An investor conference call will follow beginning at 7:00 a.m. Central Time. Our board of directors and managed use Adjusted EBITDA minus capex to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA minus capex. We have finally returned to Six Flags Over Georgia, and quite a bit has changed! At 7:00 a.m. Central Time today, May 12, 2022, the company will host a conference call to discuss its first quarter 2022 financial performance. Summer is around the corner and area water parks are already preparing for the 2023 season. Saturday, August 8, 2020 - 07:24. According to a press release, Pirates of Speelunker Cave will feature: What do you think about Six Flags Over Texas 2022 plans? With a top speed of 63 mph, this launch-style water coaster will take riders to 90-degree angles, across more than 700 feet of track. The $11.39 increase in guest spending per capita compared to first nine months 2021 was driven by a $7.41 increase in Admissions spending per capita and a $3.98 increase in In-park spending per capita. In addition, there were three additional days included in first quarter 2021 compared to first quarter 2022 due to adoption of a fiscal reporting calendar in the quarter commencing January 1, 2021, which accounted for 89 thousand additional guests in first quarter 2021.2. 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. Paddock Publications, Inc. is an Employee-Owned Company. 01/31/2023. The theme park was closed throughout 2020 due to health concerns stemming from the COVID-19 pandemic. The village has given the park around $387,000 total in 2018, 2019 and 2021. Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, and our other filings and submissions with the SEC, each of which are available free of charge on the companys investor relations website at investors.sixflags.com and on the SECs website at www.sec.gov. The reduction in operating costs was driven by full-time headcount reductions, fewer total employee hours worked, and lower advertising costs. We prepare our financial statements in accordance with United States generally accepted accounting principles ("GAAP"). A list of events in 2022 related to Six Flags. The village has given the . Built by Bolliger and Mabillard (B&M), this floorless dive coaster will be 150ft tall and feature the record breaking 95 degree, beyond vertical drop. +1-972-595-5180 "We are always looking at potential new additions to the park and how/when they may best fit.". Karie Angell Luc/for the Daily Herald, 2021. Average Retirement Savings By Age: Are You Normal? The park's 2023 season opens Saturday. Hurricane Harbor at Six Flags New England re-opens for the 2022 season. In addition, there were increased operating days in first half 2022 compared to the prior year period, which was negatively impacted by pandemic-related closures and operating restrictions. 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. Date. Unlike previous Six Flags announcements, this was not a chain-wide announcement, and all attractions were announced on their own separate days. The last roller coaster debut was Maxx Force in July 2019, which officials touted as having the fastest launch time -- zero to 78 mph in under 2 seconds -- of any coaster in North America. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we make no assurance that such expectations will be realized and actual results could vary materially. The call can be accessed through the Six Flags Investor Relations website, investors.sixflags.com, or by dialing 1-833-629-0614 in the United States or +1-412-317-9257 outside the United States and requesting the Six Flags earnings call. Capital expenditures, net of property insurance recovery (capex) represents cash spent on property, plant and equipment, net of property insurance recoveries. Let us know in the comments section below! So far, no plans have been announced to add a new ride or other significant attraction to the park in 2024, officials said. To celebrate its 60 th anniversary, Six Flags Over Texas announced today that two new rides will be arriving for the 2022 season. Texans celebrate Cinco because a Texan led Mexicos victory. See copyright and trademarks. 2022 Six Flags. Aquaman: Power Wave, which was previously announced as a Power Splash multi-launch water coaster by Mack Rides, will also debut next season. U-shaped roller coaster Vertical Velocity is now The Flash: Vertical Velocity, water ride Yankee Clipper is now Aquaman Splashdown, and spinning swing ride Whirligig is now the DC Super-Villains Swing. SAN ANTONIO-- ( BUSINESS WIRE )-- Six Flags Fiesta Texas ,The Thrill Capital of South Texas, today announced details on the new ESIX Gaming powered by Coca-Cola. Karie Angell Luc/for the Daily Herald, 2021, Six Flags Great America in Gurnee will open on weekends and select weekdays starting Saturday through May 23 when daily admission begins. Our board of directors and managed use Adjusted EBITDA minus capex to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA minus capex. Adjusted EBITDA minus capex, a non-GAAP measure, is defined as Adjusted EBITDA minus capital expenditures, net of property insurance recoveries. Manage all your favorite fandoms in one place! 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, and fresh start accounting valuation adjustments. Splash Dayz will be open May 20 from 11 a.m. to 3 p.m. then open for the season May 27 from 10 a.m. to 8 p.m. Fridays-Sundays and 11 a.m. to 8 p.m. Tuesdays through Thursdays. Revenues and expenses of international operations are converted into U.S. dollars on an average basis as provided by GAAP. Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. Document. The technical storage or access that is used exclusively for anonymous statistical purposes. The parks will be open from noon to 5 p.m. on May 6 and 7 for season pass holders only. Afterward, it was changed and renamed to the current version of the attractionYosemite Sam and the Gold River Adventure, until a flood caused the ride to be shut down for almost two years. Date. Kid Flash: Cosmic Coaster (Six Flags Fiesta Texas), Batman: The Ride (Six Flags Fiesta Texas), Superman: Tower of Power (Six Flags St. Louis), Six Flags Great America Entertainment Village, Screampunk District (Six Flags Magic Mountain), SFGAMWorld on Twitter: "BREAKING NEWS: No System-Wide new for 22' Announcements for SF this year", https://www.sixflags.com/fiestatexas/attractions/dr-diabolicals-cliffhanger, Six Flags Over Texas Announces 'Pirates of Speelunker Cave' Ride, https://www.narcity.com/fr/montreal/la-ronde-donne-des-nouvelles-de-la-montagne-russe-vipere-qui-devait-ouvrir-en-2020, https://guidetosfot.com/2022/07/aquaman-power-wave-opening-delayed-until-2023/, Do Not Sell or Share My Personal Information. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might . About Six Flags Entertainment Corporation. Six Flags Entertainment Corporation (NYSE: SIX), the worlds largest regional theme park company and the largest operator of waterparks in North America, today reported first quarter 2022 financial results. Prices, operating schedule and park policies are subject to change without notice. Six Flags Magic Mountain will welcome the world's tallest and longest single-rail coaster to its world-record line-up next year. Prices, operating schedule and park policies are subject to change without notice. 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. Adjusted EBITDA was $226 million, a decrease of $53 million compared to third quarter 2021. Document. The decrease was primarily due to lower unit sales of season passes and memberships. By providing these measures, we provide our investors with the ability to review our performance in the same manner as our management. Deferred revenue was $185 million as of April 3, 2022, a decrease of $60 million, or 25%, from April 4, 2021. The company partially offset the decrease in revenue with lower cash operating costs. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. 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. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and a higher mix of single day tickets. We believe that Adjusted EBITDA minus capex 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. Kid Flash: Cosmic Coaster (Six Flags Fiesta Texas), Batman: The Ride (Six Flags Fiesta Texas), Superman: Tower of Power (Six Flags St. Louis), Six Flags Great America Entertainment Village, Screampunk District (Six Flags Magic Mountain), World's Largest Ride - American Coaster Enthusiasts (ACE)., Holiday in the Park Drive-Thru Experience, Hurricane Harbor at Six Flags Darien Lake, https://www.iaapa.org/news/funworld/remembering-hank-salemi-six-flags-great-america, https://www.narcity.com/fr/montreal/la-ronde-donne-des-nouvelles-de-la-montagne-russe-vipere-qui-devait-ouvrir-en-2020, https://twitter.com/jeffrey_siebert/status/1498836739053531143, https://www.aceonline.org/page/largestride, Do Not Sell or Share My Personal Information. All rights reserved. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and a higher mix of single day tickets. Six Flags Is About To Open Some Of The Biggest Coasters In The World! Six Flags America opens for the 2023 season. The $8.94 increase in guest spending per capita compared to third quarter 2021 was driven by a $6.23 increase in Admissions spending per capita and a $2.71 increase in In-park spending per capita. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Looking for something specific? Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. Senior Vice President These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19 and Monkeypox, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19 or other health emergencies such as Monkeypox, including with respect to business operations, safety protocols and public gatherings; economic impact of political instability and conflicts globally, including the war in Ukraine; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; the increased cost of capital due to raising interest rates; macro-economic conditions (including supply chain issues and the impact of inflation on customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). May May 7 Six Flags White Water re-opens for the 2022 season. Management uses non-GAAP measures for budgeting purposes, measuring actual results, allocating resources and in determining employee incentive compensation. At esix Gaming, we cater to all types of gamers. Six Flags Over Texas confirmed . 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). The park this morning announced that . ARLINGTON, Texas--(BUSINESS WIRE)-- Karie Angell Luc/for the Daily Herald, 2021, Six Flags Great America guests ride Maxx Force in Gurnee. These efficiency measures were offset by higher wage rates, and increases in repair and maintenance, utilities, and other costs due to inflation. Adjusted EBITDA was a loss of $16 million, an improvement of $30 million compared to first quarter 2021, reflecting higher revenue and improved margins. Though the theme park does not share attendance figures, industry analysts and village data suggest the park got back on track in 2021 and 2022. 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 effect, impact, potential duration or other implications of the COVID-19 pandemic or virus variants, and any expectations we may have with respect thereto including the continuing efficacy of the COVID-19 vaccines, (ii) 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, (iii) our ability to significantly improve our financial performance and the guest experience, (iv) expectations regarding consumer demand for regional, outdoor, out-of-home entertainment, including for our parks, and (v) expectations regarding our annual income tax liability and the availability and effect of net operating loss carryforwards and other tax benefits.
Lemon Butter Cod Half Baked Harvest,
Section 8 Houses For Rent In Riverdale, Il,
Blackwell Ghost 6 Release Date,
How Did Kevin Costner And Whitney Houston Meet,
Articles S