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Six Flags Entertainment Corp (NYSE:SIX) reported fourth-quarter (Q4) fiscal 2023 sales growth of 5% year-on-year to $293 million, missing the analyst consensus of $297.5 million.
The theme park company’s adjusted EPS of 18 cents missed the consensus of 27 cents.
Attendance was 4.3 million guests in the quarter, a 6% Y/Y increase. Total guest spending per capita was $64.19, down 1% Y/Y.
The increase in attendance was driven both by higher season pass and single-day ticket attendance during the Fall events line-up.
In-park spending per capita increased by 2% to $31.13.
The operating income fell to $18.7 million from $48.6 million Y/Y. The margin declined to 6.4% from 17.4% Y/Y.
Adjusted EBITDA for the quarter was $98.2 million versus $98.6 million Y/Y.
The company held $78 million in cash and equivalents as of Dec. 31, 2023.
“Looking ahead to 2024, we have seen early success in sales of our 2024 passes, which are ahead of last year, and should provide a solid foundation as we head into the core operating season,” Six Flags CEO Selim Bassoul said.
Invesco S&P SmallCap Consumer Discretionary ETF (NASDAQ:PSCD) has 1% exposure to the stock and gained close to 6% last month.
Price Action: SIX shares traded higher by 4.07% at $25.60 premarket on the last check Thursday.
Image: Wikimedia
