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$SIX Flags cutting full-time workforce by 10%
Oct. 13, 2020 5:21 PM ETSix Flags Entertainment Corporation (SIX)By: Jason Aycock, SA News Editor2 Comments
Six Flags (NYSE:SIX) says in an SEC filing that it's committed to reduce its full-time workforce by 10% as part of transformation productivity initiatives.
That reduces the workforce by about 240 employees.
Shares are up 0.7% after hours.
Six Flags doesn't expect to incur material charges in the action.
As for severance pay offers and outplacement services, the company expects to record severance costs of about $1.5M in Q3 and about $3M in Q4.
20.18 -0.89 (-4.22%)
Six Flags Entertainm (SIX)
Volume: 1,649,991 @10/13/20 7:00:00 PM EDT
Bid Ask Day's Range
- - 19.93 - 20.81
21.45 * 0.87 (4.23%)
Six Flags Entertainment $SIX
Volume: 1,770,269 @10/07/20 5:07:51 PM EDT
Bid Ask Day's Range
- - 20.8501 - 21.64
Six Flags Sets Date to Announce Third Quarter 2020 Earnings
October 07, 2020
ARLINGTON, Texas--(BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX) today announced it will release third quarter financial results before the market opens on Wednesday, October 28, 2020. An investor conference call will follow beginning at 7:00 a.m. Central Time. The call can be accessed through the Six Flags Investor Relations website, 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
Company ended up on Friday
Over the weekend been some tough news on the theaters shutting down in UK with no new releases in sight --- then DIS laid off 28K and I think SIX has remained silent hoping DIS could pull it off in CA but doesn't look like that is happening.
$SIX Flags Entertainment (SIX)
20.74 * 0.8 (4.01%)
Volume: 1,634,346 @10/02/20 7:41:57 PM EDT
$SIX flags has been on its own roller coaster ride the last 5 days hitting you for over a 12% slide. That's no fun when they have the exit closed. Perhaps we will see it soften out a bit
$SIX Snapshot
Average Recommendation: Overweight Average Target Price: 22.40
Number of Ratings: 12 Current Quarters Estimate: -0.90
FY Report Date: 12 / 2020 Current Year's Estimate: -4.21
Last Quarter's Earnings: -1.62 Median PE on CY Estimate: N/A
Year Ago Earnings: 2.39 Next Fiscal Year Estimate: -0.73
Median PE on Next FY Estimate: N/A
Earnings Per Share
This Quarter Next Quarter This Fiscal Next Fiscal
# of Estimates 12.00 11.00 12.00 12.00
Mean Estimate -0.90 -0.79 -4.21 -0.73
High Estimates -0.45 -0.47 -2.93 0.70
Low Estimates -1.60 -1.08 -5.21 -3.58
Coefficient Variance -36.44 N/A -15.37 -155.77
Six Flags, Cedar Fair, and SeaWorld have all suffered heavy losses in recent quarters. Capacity restrictions and increased coronavirus-related cleaning and safety expenses are likely to continue to weigh on their profits in the quarters ahead. And if fears of getting sick lead more people to steer clear of amusement parks in the fall, the industry's struggles could be even worse than feared.
For these reasons, Six Flags, Cedar Fair, and SeaWorld are likely to remain high-risk stocks until a safe and effective vaccine or treatment for COVID-19 is developed.
$SIX Flags Entertainment (SIX)
22.03 ? -1.81 (-7.59%)
Volume: 2,374,725 @09/21/20 5:41:05 PM
Don't fret
$SIX slid today but don't run --- they have plenty of cash to see this COVID thru to the other side. Get out and enjoy the rides !!!!!
Six Flags Entertainm (SIX)
22.03 ? -1.81 (-7.59%)
Volume: 2,374,725 @09/21/20 5:41:05 PM
Designated HALLOWFEST weekends
During designated HALLOWFEST weekends, Six Flags parks will donate a branded mask for every mask purchased by guests. Masks will be donated to local schools for students or teachers in need.
Participating parks:
Six Flags Great Adventure (September 18-November 1)
Six Flags Over Georgia (September 18-November 1)
Six Flags Over Texas (September 25-November 1)
Six Flags Fiesta Texas (September 18-November 1)
Six Flags St. Louis (October 2-November 1)
Six Flags America (October 3-November 1)
Frontier City (October 2-November 1)
Six Flags Invites Guests to Halloween Safely during HALLOWFEST
ARLINGTON, Texas--(BUSINESS WIRE)--Six Flags Entertainment Corporation, the world’s largest regional theme park company, is ready to #halloweensafely with a new event for the entire family—HALLOWFEST presented by SNICKERS®. Six Flags worked in partnership with its health and epidemiologist consultants to create a safe Halloween experience that meets or exceeds federal, state, and local guidelines. All haunted indoor attractions will be moved outdoors to open air plazas and midways. Guests must make reservations to visit, and park attendance will be carefully monitored to avoid overcrowding and ensure safe social distancing. Six Flags is also donating Six Flags branded masks to area school districts for every mask purchased by park guests.
“We asked our guests, and they told us they still want to safely celebrate Halloween with family and friends,” said Six Flags President and CEO Mike Spanos. “Working with health advisors and our own safety experts, we’ve created a modified version of our popular Fright Fest event that provides lots of signature Six Flags thrills in a safe and fun manner. We will operate HALLOWFEST the same way we have operated our parks all summer…with mask requirements, advance reservations, daily temperature checks for guests and team members prior to entry, social distancing, and enhanced sanitization measures.”
All team members (including scare-actors), and all guests three years and up, will be required to wear masks covering the nose and mouth while in the parks;
No indoor mazes, haunted houses, or indoor shows will be operated; some haunted trails and scare zones will be moved outdoors with social distancing strictly enforced;
A limited number of nighttime scare-actors will always remain at least six feet away from guests and each other;
Guests viewing outdoor entertainment will be separated by at least six feet;
Props, rides, restraints, handrails, and all dining and restroom facilities will be cleaned and sanitized regularly; and
Multiple hand-washing and alcohol-based hand sanitizer stations will be located throughout the parks for guest and team member usage.
HALLOWFEST will feature Thrills by Day, with family-friendly activities, and Chills by Night, with rides on monster coasters…in the dark, creepy outdoor scare zones, eerie fog, and haunting Halloween theming throughout the parks. HALLOWFEST will operate select weekends September through November 1. Operating days, hours, and activities will vary by park.
During the daylight hours, families and young thrill-seekers will experience plenty of HALLOWFEST activities including:
Everyone’s favorite kids’ activity—Trick-or-Treat trails with individually packaged candy and treats;
Kids’ Halloween costume contests—children 8 years and under may wear their favorite costumes to win a prize (all costumes must accommodate safety masks);
Spooky magic shows and storytelling will feature verbal interaction only and no physical contact;
Themed, kid-centric mazes will route younger guests through cornstalk or hay bale mazes in one direction; and
Halloween-themed specialty treats including a HALLOWFEST Funnel Scream Cake made with SNICKERS candy, Scare-acha boneless wings, and Candy Monster Dippin Dots with cotton candy and chocolate-flavored dots will be available for purchase.
For Chills by Night, all indoor haunted attractions will be reconfigured for outdoor enjoyment.
Spine-tingling scare zones will be stationed along the wide-open plazas and midways and will be smaller in scale to maintain social distancing requirements;
Creepy fog, eerie lighting, and sinister music will create the perfect backdrop for nighttime scares and chills;
Six Flags’ signature collection of world-class roller coasters ramp up the fear factor for a heart-pounding HALLOWFEST experience as guests fly through the air at high speeds in the dark; and
Halloween gear, including themed masks, witch headbands, light-up devil horns, and scary apparel will be on sale, along with guest favorite glow-in-the-dark necklaces, bracelets, and light sticks.
$SIX Price Target Upside/Downside
According to analysts' consensus price target of $23.77, Six Flags Entertainment has a forecasted upside of 8.1% from its current price of $21.99.
$SIX Flags Entertainment Corporation New Share Daily Summary
Close Price: $21.69
Time: 04:43:51
Change Absolute: +0.21
Change %: +0.98%
Total Volume: 1,274,090
Day High: $21.86
Day Low: $21.25
Market cap: 1.84Bn
Senior VP - Marketing granted 3459 shares of $SIX dated 08/30/20. Petit Brett was granted of shares of common stock pursuant to dividend equivalent rights under Issuer's Long-Term Incentive Plan. The number of shares of common stock granted was based on the conversion of cash dividend equivalents accumulated and now owns a total of 187292 per Form 4 http://investors.sixflags.com/sec-filings
Six Flags Entertainment Corporation $SIX the world's largest regional theme park company and the largest operator of waterparks in North America, today announced that it has amended its credit facility to further extend the covenant waiver period by one year, from the fourth quarter of 2020 to the fourth quarter of 2021, and to extend the covenant modification period by one year through the fourth quarter of 2022. In addition, all of the company's incremental revolving credit lenders agreed to extend the incremental $131 million revolving commitments by one year.
I hear ya .. no income at all this year .. lucky if there is any next year .. I think your looking at a couple of years .. if they can hang on that long
Yeah I feel the same .. the summer is already in the second half .. COVID tough on this one !
These frigs will just go Bankrupt AGAIN !!!
IMO ?
Playing it wrong homeboy.
NOT EXPECTING MUCH HERE IN NEXT 6 MONTHS
Marker:
Six Flags Entertainm (SIX)
17.32 down -3.04 (-14.93%)
Volume: 4,563,549
FD: Monitoring only. I do not hold a position in SIX.
5yr DCF valuation analyses implies Six Flags $SIX is 6% undervalued... earnings Wednesday:
DCF Analysis
Nice option trade, Budget........well, thank you, Budget......not over yet !!!
Make that $50.00 + .....!!
Six heading to $5.00 and beyond it appears.... About time, lol.....
$SIX trades crazy just like the rides.
Six Flags Atlanta Looking to Hire 3,000 Employees
Posted: Mar 07, 2014 1:22 PM PST
Updated: Apr 04, 2014 1:22 PM PDT
Six Flags Over Georgia has announced a two week hiring blitz leading up to the start of park operations on Saturday, March 15th.
In all, nearly 3,000 employees will be hired through the 2014 season.
Six Flags White Water is also hiring.
More than 600 positions are available there with the park opening on Saturday, May 17th.
Applicants must be at least 16 years of age and apply online at sixflagsjobs.com.
Qualified individuals will be contacted for an on-site interview. No walk up interviews will be available.
That's what I am expecting to happen this year and with high dividends I am buying as much as I can!
More info on SIX http://seekingalpha.com/instablog/2969631-phillipb115/2798223-cedar-fair-l-p-fun-2014-q1-expectations I am not sure how this will go I assume that once we get moving in the summer profits will start to come in' looking at the two year chart if it continues its pattern it's only going to go (PPS) higher.
A couple of good things just to even "buy and hold" on this stock 1) it's ranking is 4 stars 2) high dividends. well and 3) its been around a long time and has done very well chart over the last couple years shows the PPS climbing very steady to the top.
now is also the time to buy in IMO as the stock is low six flags opened this month,first month of the year! stock will start to heat up in the summer!
Good things happening with SIX added rides for one,a ride that goes backward...I had trouble getting on the feris wheel..LOL!
Earnings Quick View
Read here
http://www.earningsimpact.com/
Need to begin calling this stock SEVEN;it's sort of a good luck charm,as of late.
Please keep in mind that April-October are Six Flag's most productive months.
Could see PPS rise with the seasonal temperature.
Just my assumption:
People are trying to save $$$ and are finding that Six Flags is the proximal choice.
The passes,new rides and overall atmosphere may be just what the "doctor" ordered.
Question and Answer Session: 4/22/13
Operator
(Operator Instructions). Our first question comes from Afua Ahwoi of Goldman Sachs.
Afua Ahwoi - Goldman Sachs
Thank you. Two questions, first, on the buyback, giving you have run through the authorization you have outstanding, how should we think about on the go forward, should we expect a formal announcement or are you just going to continue to buy back, given your credit facilities give you that ability? And then second, on pricing, should we actually think about the difference with the split between reduction of discounts and actually raising ticket prices whether it's on season pass side or even at the gate prices. Thank you.
John Duffey
In terms of the buyback we have approximately as of today 140 million remaining on our board authorization for buyback and we can do incremental amount in addition to that through the credit agreement but we’re not going to disclose exactly what our plans are in terms of the remainder of the year.
Jim Reid-Anderson
To your question once we at a point where we have utilized all 114 but remains the board authorization we would then come back and make some sort of announcement but right now we will buy at our own pace. With regards to pricing we don’t give guidance as to what exactly what has led to increases in price rather all will do and say that it has come in both areas and so we did take our main-gate pricing up and we also had reduced our discounts so both will be contributing bot only happen to this but we will continue to contribute going forward as well.
Operator
Our next question is from Ian Zaffino of Oppenheimer & Co.
Ian Zaffino - Oppenheimer & Co
As far as looking at your project 500 goal, how do you get -- and maybe I was just -- plenty of times before, but give me an idea of as you look between the admissions per cap and then also in-park spend, which is going to be the bigger driver? Is it going to be the pricing side? Is it going to be the in-park spend? Where do you think you have more room to go?
Jim Reid-Anderson
I think it's a really good question Ian and much like a forward question. I can’t give you, this is the breakdown here it is but I can give you a general view as to what we believe. I think we have opportunities across many fronts and I really do believe that we’re going to see growth driven by our season pass strategy. We’re already seeing that and we anticipate continuing to see that improvement in attendance I think concurrently we will see increases because of pure pricing and reductions of discounts and that will be a major contributor for us and then I think that incrementally because we will have more people in the park whilst we might say it's a little bit pressure on the in-park spending per cap total revenue will grow and so I see all three of those areas as being huge opportunities for us going forward and I will give you an example why I think that in-park spending is a growth opportunity as well not only will we see more people in the park throughout these entire strategy but in addition as we have said we have introduced an all season dining pass which we think is a great value in a tough economy and we think that’s going to help drive our revenue forward. So I would say there are numerous opportunities but those three would be the biggest from a pure financial perspective and of course there are others that were targeting maybe at a slightly lower level.
Ian Zaffino - Oppenheimer & Co
So as you look at all your in-park spend initiatives, is it really this dining pass that's going to be the biggest driver? Or are there other opportunities? How do you rank, if you could, your initiatives? Where would let's just say dining be on that list? Where would some of the other initiatives that you have in the hopper rank on that list?
Jim Reid-Anderson
I think that they really are multiple initiatives that are ongoing, our team across the company, across parks are coming up with innovative new ideas but I think you have to remember that food represents about 50% of our in-park revenue and this program is in a place where people who may not traditionally spend were targeting those to be able to spend in our park. So I would say to you that our single biggest opportunity right now is in-park, is this all season dining but I would add that there are others including our flash pass program that we think will give us incremental revenue as well.
Operator
Our next question is from James Hardiman of Longbow Research
James Hardiman - Longbow Research
Couple of quick questions here, just want to make sure I understand the puts and takes of the calendar shift here. I realize you don't give much in the way of guidance but any guide points that you could give us with respect to the second quarter of the rest of the year would be great. I think you mentioned that half of the attendance gain, half of that $525,000 was a function of the calendar. Do you expect that to be a zero-sum shift? In other words, should I just take half of that $525,000 and back that out of my second-quarter number and basically use that as a baseline? Are there any other calendar shifts that we should be aware of over the course of the rest of the year?
Jim Reid-Anderson
Yeah in terms of the remainder of the year, there really are no significant calendar shifts for the remainder of the year. Obviously the significant impact was in the first quarter and approximately we set half of that increase that we saw was due to opening our parks earlier because of the shift in the spring break. So yes you should assume that will be a negative impact in the second quarter.
James Hardiman - Longbow Research
Great and then the second quarter last year appear to be the biggest beneficiary certainly on the attendance side from the new rides and attractions in 2012. It sounds like you guys are really bullish on the CapEx program this year. Do you expect a similar program, just given that the people that are most excited to participate in these new rides are most likely to come in the second quarter? Do we expect a similar pattern to play out this year versus last?
Jim Reid-Anderson
We don’t provide guidance on what’s going to happen in anyone quarter and we referenced on numerous calls that we try to track how we’re doing on an LTM basis because that gives you the best sense of how the business is doing. So I won't predict what will happen in the second quarter what I will say is that we continue to see very nice momentum, LTM on attendance, on revenue, on profitability and the capital line-up that we have. I really believe that 212 was the best line-up but I’m being told now and I do also believe that 2013 is going to be very better and I have to believe that our guests are now getting more and more aware of what we’re doing, we will see that as a big positive. So I won't predict for you what will happen but I will tell you that I feel pretty good about the direction we’re headed in.
James Hardiman - Longbow Research
Got it. And then last question, I don't know how much of this you can give us. Obviously you are not going to quantify the price increases, season passes versus front gate. I think you have commented in the past about how in 2012 sort of that breakeven point, right, the point at which the rational customer would go toward season passes versus the daily passes, was skewed a little bit towards season passes last year, from a relative pricing perspective. How should I think about that? If you could give us any color for 2013 -- if I know I am coming to the park a certain number of times in 2013, is it going to be more or less attractive to buy season's passes or is it pretty comparable to what was in 2012? Thanks.
Jim Reid-Anderson
Well we continue to believe that it's highly attractive to buy a season pass and I think given the numbers that John threw out earlier about what we’re seeing on the seasons pass run it would suggest that our guest believe that as well. So I think it's always a better value to be able to utilize the season pass. I think that the percentage of guest to visit who are season pass holders will increase. I hope that answers your question.
Operator
Our next question comes from Ian Corydon of B. Riley & Co
Ian Corydon - B. Riley & Co
A lot of questions have been answered but I just wanted to drill down on sponsorship licensing. You saw that tick up year over year for the first time in quite a while. I'm just wondering if we can expect that to grow and maybe if we can get an update on your initiatives to try to build on that.
Jim Reid-Anderson
It's an excellent question Ian and yeah we’re very pleased to see the trend on the corporate sponsorship side improving and I really believe that the last couple of years have all been about eliminating sponsorship deals that might have given us revenue but very little in the way of profit or cash flow and we’re now through that process. So we do anticipate some modest increases with regard to this line-item and our team, we have an excellent team that’s laser focused on this.
Operator
Our next question comes from Kevin Coyne of Goldman Sachs.
Kevin Coyne - Goldman Sachs
I just had one on season ticket sales. I was just wondering, is the strength broad-based like across most of the parks? Or, I guess, related to some of the disruption in New Jersey related to Hurricane Sandy, are you seeing perhaps more strength in your season ticket sales there because of some other amusement options being off-line?
Jim Reid-Anderson
It's a great question actually Kevin and you’re right there was some impact on some amusement options but those really were not major competitors for us. I think the really good news that I tell you is that we’re seeing growth in every single park, there is nowhere that we have not seen tremendous improvement. So it is broad-based across the board.
Operator
Our next question comes from Tim Conder of Wells Fargo
Tim Conder - Wells Fargo
Thank you. I apologize, joined the call late, we were on another overlapping call but a couple of questions, everyone. You talked about the in-park spend opportunities. Can you update us on where you are as that relates to the Water Parks themselves? Any new initiatives there this year, Jim? And then also just give us a little bit of an update as to your ability now, taking the data from your CRM and the point of sale, where you stand with that in being able to really mind that for additional in-park spending opportunities.
Jim Reid-Anderson
Very good set of questions there, Tim, I think the water-parks themselves I believe are in very good shape, you may remember that park way through the year last year we rolled out the low-queue option, our flash pass in the water parks and this will be the first year where we have a full year in the water parks and I think that is going to be very powerful for us. I would also add that in pretty much every water-park not only have we got brand new attractions to pull people in so we have got new water-slides new attractions in every single water-park. But we have also changed several of the retailing and food options so we have got new dining menus and we also have several new restaurants. So we’re targeting several opportunities in our water-parks and I think my belief is that given that plus pricing increases we have taken, we should be in pretty good shape for this year. The second question was around CRM and I know this has come up on other calls but that we have listened to and I have to tell you that we’re in really incredible shape and have been for a while. I think I mentioned that one of the beauties of Six Flags is abundance of data that existed. We’re right up-to-date in terms of IT. So we know exactly what we’re selling pretty much in every park at every retail outlet or dining operation on an ongoing basis and so we’re already mining that and we will continue to do so going forward. John do you want to add to that?
John Duffey
I would just add on Jim’s comment that I think we’re in great shape as it relates to our systems and particularly around CRM and we are investing dollars every year to enhance our CRM. The good news is that we don’t have any significant investments that need to be made.
Jim Reid-Anderson
We made big investments over the last few years. I think the other piece that comes up a lot Tim and I want to reference is dynamic pricing. Again on that front we’re in a very good place, we have actually utilized dynamic pricing at various points and we continue to a really good example of that would be price set at last year. We were able to utilize that on certain days that are more popular than others to be able to spread attendance. Overall from an IT, CRM perspective I feel like we’re in good shape but we will always keep an eye to see if there is anything else that we can do to make us stronger.
Tim Conder - Wells Fargo
John, I apologize. Again, I joined the call late. Can you just give me a quote on your season passes at this point year over year?
John Duffey
In terms of the season passes we don’t disclose the actual dollar amount of the sales or the attendance mix. But I always refer back to the differed revenue which was up 41%.
Jim Reid-Anderson
So it's in the press release Tim and it shows the increase of $27 million or 41% compared to March of 2012.
Tim Conder - Wells Fargo
Okay, and then last year on the season passes roughly 44% of your attendance was season pass. Correct?
John Duffey
That’s correct for the entire year.
Tim Conder - Wells Fargo
And you obviously expect that to go up this year?
Jim Reid-Anderson
We do.
Operator
(Operator Instructions). Our next question comes from Joel Simkins from Credit Suisse.
Joel Simkins - Credit Suisse
A couple of quick questions here. The first one is, you did recently announced this weather guarantee for the New England Park. I would like to get some more color on that. Obviously, you guys were pretty pleased with the pass. The progress on season pass sales year to date. Can you give us a sense of what your advertising mix has been this year versus last year and how you plan to shift that, perhaps, as we head into the heart of the season?
Jim Reid-Anderson
With regard to the weather guarantee, we have been testing this option in New England and I think that the real benefit is guest perception and what we have found is that people really appreciate the fact that you would offer to allow them to come back on another day if the weather is bad for a couple of hours or more and so we’re testing it in New England and obviously the park hasn’t been opened that long but the initial reaction is very positive and as I said it has very little negative financial impact but huge guest perception upside and I would rather give you more of a flavor for this at the end of the year once we have had a full year task but my view would be that this is something we would probably roll-out across all of our parks.
Joel Simkins - Credit Suisse
Okay, and again the question following up on your advertising?
Jim Reid-Anderson
The advertising mix, can I just clarify the question is it timing, the timing of the spend or the type of spend?
Joel Simkins - Credit Suisse
Really more of the type of spend.
Jim Reid-Anderson
The type of spend, it mimics very closely what we did last year so successfully. So you may remember Joel that historically the company would have spent the bulk of its money on TV advertising and that would be national TV advertising and the spend shift that has taken place in the last 1.5, 2 years has really been to ensure that we not only have TV advertising but that TV advertising is more local in nature, the local channels but then we have also radically increased our spending online but we have gone back to utilizing billboards, we have really pushed up our spend on radio and then finally with our relationship with one of our partners Coca Cola, we have Cinema advertising and the combination of all of those really has resulted in a much higher impact spend than we had previously and I think that’s part of the reason that we’re such success with regard to our capital story because historically people may not have been aware of what we’re doing now they know because we’re telling local people within 300 miles of our parks what’s going on at their local park.
Operator
At this time there are no other questions.
Jim Reid-Anderson
Okay thanks Marian. We really appreciate all of you joining our call today and I want to say that I hope you can take the time to visit at least one of our beautiful parks to season in order to experience all that we have to offer. Meanwhile I do want to make sure that you know that you can rest assured that our team is focused on delighting our guests and driving incremental shareholder value in the coming quarters and years ahead. Take care and I hope to see you soon.
Operator
This does conclude today’s conference call. You may disconnect your phones at this time.
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Six Flags Quarter 1 Results 2013 -Seeking Alpha
Six Flags (SIX): Q1 EPS of -$1.23 beats by $0.43. Revenue of $88M (+32% Y/Y) beats by $19.8M.
Six Flags (SIX) beat estimates as the company benefited from a calendar shift which saw more schools schedule spring breaks in March than April a year ago.
Interesting. Chart looks decent.
http://stockcharts.com/h-sc/ui?s=SIX
Maybe due to the giant tax break...
"The Grand Prairie-based company posted a $143.8 million profit in the quarter, or $2.69 a share, compared to a $102 million loss, or $1.86 a share, the previous year, thanks to a $180.6 million income tax benefit. Revenue was up 5 percent to $143.9 million. Without the benefit, Six Flags would have lost $37.4 million, the company reported."
www.star-telegram.com/2013/02/20/4632376/six-flags-reports-strong-fourth.html#storylink=cpy
SIX Six Flags 2nd Quarter Profit Doubles on Strong Ticket Revenue, In-Park Sales
BY Dow Jones & Company, Inc.— 6:47 AM ET 07/24/2012
By Victoria Stilwell and Saabira Chaudhuri
http://stockcharts.com/h-sc/ui?s=SIX
Six Flags Entertainment Corp.'s (SIX) second-quarter profit more than doubled, surging past Wall Street expectations, as the amusement park operator's revenue was driven by a rise in ticket sales, attendance and in-park sales.
The regional theme-park operator, which emerged from bankruptcy in May 2010, was hit by a heavy debt load and attendance declines during the recession. The company has grown its revenue in recent quarters as both attendance and ticket sales have generally improved.
Six Flags reported a profit of $72.3 million, or $1.27 cents a share, up from a year-earlier profit of $35 million, or 62 cents a share. Its income from continuing operations was $1.34 a share in the most recent quarter versus 64 cents a year ago. Revenue rose 11% to $374.9 million.
Analysts surveyed by Thomson Reuters recently predicted earnings of 62 cents a share on revenue of $352 million.
Operating margin widened slightly to 65.8% from 64.4% as a rise in operating expenses excluding depreciation and amortization was offset by revenue growth.
Attendance improved 12%, or by one million guests. Ticket revenue increased 11% as in-park sales rose 12%.
Shares closed Monday at $52.59 and were inactive in premarket trade. The stock is up 48% in the past 12 months.
Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com and Saabira Chaudhuri at Saabira.Chaudhuri@dowjones.com
(END) Dow Jones Newswires
07-24-12 0647ET
Nice climb the last 6 months...Looks like more people are staying closer to home and using the park systems again
I don't understand Six Flags. They should be doing well. They have a great P/E ratio and they're an established company who just yesterday joined with Gamefly for what I think is an awesome promotion. And they are going to report on the 25th of July with what I think will be a good quarter. GO SIX FLAGS!!!!!
Unfunny.
Ordinary
It will be like one of their roller coasters for sure !Up then straight down
In time, this one is more than likely headed below 1.00......Becarful here. Many unhappy shareholders. Could be a long journey down from here.
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