Six Flags Entertainment Corp (SIX)

[Dr Blunt]

$SIX stock tumbles

07:04 AM EDT, 10/28/2020 (MT Newswires) -- Six Flags Entertainment (SIX) on Wednesday swung to a Q3 loss of $1.37 per share from earnings of $2.11 per share a year earlier. Analysts polled by Capital IQ expected a loss of $0.88 per share.
Total revenue was $126 million, sliding by nearly 80% from $621 million a year ago. The CapIQ forecast was $142.7 million for the theme parks operator.

Nine of the company's 26 parks were closed in Q3 because of the ongoing COVID-19 pandemic. Locations that were open were subject to capacity limitations, the company said.
Shares of Six Flags dropped by 8% ahead of the market open.
The company had $214 million in cash on hand and $459 million available under its revolving credit facility as of Sept. 30.
Price: 20.00, Change: -1.66, Percent Change: -7.66