Looking for something specific? Adjusted EBITDA was a loss of $16 million, an improvement of $30 million compared to first quarter 2021, reflecting higher revenue and improved margins. Popular Theme Park Announces All-New Coaster Coming in 2023 (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. By providing these measures, we provide our investors with the ability to review our performance in the same manner as our management. In our press release, we make reference to non-GAAP financial measures including Modified EBITDA, Adjusted EBITDA and Adjusted EBITDA minus capex. The $19.30 increase in guest spending per capita compared to first quarter 2021 was driven by a $10.33 increase in Admissions spending per capita and a $8.97 increase in In-park spending per capita. The call is accessible through either the Six Flags Investor Relations website at 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. Processing fees apply to online orders. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Non-admission revenue per capita is calculated by dividing Park food, merchandise and other revenue by total attendance. 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. As the worlds first regional theme park, Six Flags Over Texas has built a solid reputation of providing innovative thrills and lifelong memories for generations of families, said Six Flags Over Texas Park President Ron McKenzie. Six Flags has 27 parks across the United States, Mexico and Canada with world-class coasters, family rides for all ages, up-close animal encounters and thrilling water parks. 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. Document. ESIX Gaming powered by Coca-Cola Coming to Six Flags Fiesta Texas investors@sftp.com, Source: Six Flags Entertainment Corporation. 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. This was a year of transition for Six Flags, as we made bold changes to our business model in order to elevate the guest experience and to position the company for sustainable, long-term earnings growth, said Selim Bassoul, President and CEO. Prices, operating schedule and park policies are subject to change without notice. The market expects Six Flags (SIX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2023. investors@sftp.com, Source: Six Flags Entertainment Corporation. The company operates 27 parks, twenty five in the United States, two in Mexico and one in Montreal, Canada. Six Flags Wiki is a FANDOM Lifestyle Community. Gurnee finance director Brian C. Gosnell said Thursday the village anticipates issuing $120,000 to the park as a result of the revenue it brought in during the 2022 season. Based on data provided by the village of Gurnee, the 2021 and 2022 seasons were close to pre-pandemic levels. . With over 20 brews on tap, popular North Texas brewery to open in Cleburne this summer, Viva Mxico! Python Plunge opens at Six Flags White Water. All rights reserved. Six Flags Great America guests enter the line for the Maxx Force ride in Gurnee. 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. Maxx Force debuted in July 2019 and remains the park's newest roller coaster. 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. 5 comments 100% Upvoted Log in or sign up to leave a comment Log In Sign Up During the second quarter 2021, the company received $11.3 million related to one of its terminated international development agreements in China. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. Summer is around the corner and area water parks are already preparing for the 2023 season. SIX FLAGS and all related indicia are trademarks of Six Flags Theme parks, Inc.TM; 2022. 2022 Six Flags. The company partially offset the decrease in revenue with lower cash operating costs. What better way to celebrate our parks 60th anniversary than by announcing a brand-new attraction that pays homage to our past and launches us into the future, added McKenzie. Six Flags Over Texas will make over one of its classic dark rides for 2022. Heres where to find bands, buffets, margaritas and Cinco de Mayo fun, Karl Lagerfelds Interior Design Projects Reveal His Encyclopedic Mind, 1000-Lb. Megan Cardona is a service journalism reporter at the Star-Telegram covering a variety of topics including government policy, community resources, entertainment and more to help residents navigate everyday life in North Texas. 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. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and a higher mix of single day tickets. Learn how your comment data is processed. . Earlier this year, Six Flags Fiesta Texas welcomed a groundbreaking roller coaster, Dr. Diabolical's Cliffhanger, making 2023 the second . View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005245/en/, Stephen Purtell View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005303/en/, Stephen Purtell The lower attendance was driven by an increase in ticket prices and elimination of free tickets and heavily-discounted product offerings. "Our announcement was made last month after careful and deep consideration," Hewitt said. The Six Flags 2022 New Attractions was a media event detailing all new 2022 Six Flags attractions across 2021 and 2022. 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. Six Flags Great America guests ride Maxx Force in Gurnee. April 22 . Maxx Force debuted in July 2019 and remains the park's newest roller coaster. Represents interests of non-controlling interests in the Adjusted EBITDA of Six Flags Over Georgia, Six Flags Over Texas and Six Flags White Water Atlanta. 07/06/2022. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. 2023 | Six Flags Wiki | Fandom When reviewing a non-GAAP financial measure, we encourage our investors to fully review and consider the related reconciliation as detailed below. For more information, please see our We have finally returned to Six Flags Over Georgia, and quite a bit has changed! Adjusted EBITDA, as computed by us, may not be comparable to similar metrics used by other companies in our industry. Six Flags Entertainment and Coca-Cola Extend Long-Time Strategic Partnership. About Six Flags Entertainment Corporation. 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. (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 (loss) income attributable to Six Flags Entertainment Corporation. 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. and our April 9 Six Flags New England re-opens for the 2022 season. A replay of the call will be available through May 26, 2022 on the companys investor relations site https://investors.sixflags.com. I have the gold plus membership and saw I could do this but dont know how and which days they are. Privacy Policy. 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. Document. 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. The company had net income of $96 million in the first nine months 2022, compared to $132 million in the prior year period. Pirates of Speelunker Caveis actually anre-imagining of one of the parks first attractions calledThe Cave, which operated from 1964 until 1991. By providing these measures, we provide our investors with the ability to review our performance in the same manner as our management. Document. The higher In-park spending reflects the companys in-park pricing initiatives. No need for fans to be spinning out waiting for Harry Styles ' next single any longer. The following tables set forth a reconciliation of net (loss) income to Adjusted EBITDA for the three-month periods and twelve-month periods ended April 3, 2022 and April 4, 2021: Third party interest in EBITDA of certain operations (4), Capital expenditures, net of property insurance recovery (5). Corporate Communications, Investor Relations and Treasurer 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Six Flags Over Georgia announces impressive event lineup for the 2023 season with exciting, new festivals and the return of guest-favorites. See copyright and trademarks. Corporate Communications, Investor Relations and Treasurer This state-of-the-art esports competitive gaming campus is complete with the newest high-tech equipment and the industry's biggest titles, providing an unmatched gaming experience. "We are always looking at potential new additions to the park and how/when they may best fit.". Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. Date. April 15 Six Flags Great America re-opens for the 2022 season. Comparable periods are January 1 through April 4, 2021, compared to January 3 through April 3, 2022, resulting in three additional days from January 1 through January 3 in 2021. 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. 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. In a surprise December announcement, Six Flag Fiesta Texas revealed it would open the first "P'Sghetti Bowl" coaster model from Skyline Attractions. Were thinking there may be another PowerSplash in the future. Title. However, because these non-GAAP financial measures are not determined in accordance with GAAP, they are susceptible to varying calculations, and not all companies calculate these measures in the same manner. Saturday, August 8, 2020 - 07:24. Six Flags Announces 2022-2023 Special Events Lineup Your email address will not be published. Now you have to enroll into the rewards program and collect points through purchasing items at your park, visiting and so on. Jeffrey Siebert (@jeffrey_siebert) December 10, 2022. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. Three existing rides were adapted to the new theme. She graduated from the University of Texas at Arlington in 2020, where she worked at the campus paper, The Shorthorn, for two years. Total guest spending per capita is calculated by dividing the sum of Park admissions revenue and Park food merchandise and other revenue by total attendance. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Get your first thrills of the season, March 19 and 20. Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. The park, owned and operated by Six Flags Theme Parks, will be open daily starting May 27 . The higher In-park spending reflects the companys in-park pricing initiatives and positive consumer spending trends. Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. The park will be open primarily for weekends only until May 23, when daily admission will begin and will run through the summer. Aquaman: Power Wave, which was previously announced as a Power Splash multi-launch water coaster by Mack Rides, will also debut next season. 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. When reviewing a non-GAAP financial measure, we encourage our investors to fully review and consider the related reconciliation as detailed below. Six Flags 2022 New Attractions | Six Flags Wiki | Fandom For more information, please see our Six Flags 2022 Announcement Video (Unofficial) 1,089 views Jan 9, 2022 10 Dislike Share Coaster Delta 6 subscribers Six Flags' 2022 Announcement Video! 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. Six Flags Great America guests ride on Superman: Ride of Steel at the Gurnee amusement park. World's Steepest Dive Coaster Coming to Six Flags Fiesta Texas Thrill Capital of the Midwest - Six Flags Great America 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. Processing fees apply to online orders. View source version on businesswire.com: https://www.businesswire.com/news/home/20221017005760/en/, Stephen R. PurtellSenior Vice PresidentCorporate Communications, Investor Relations and Treasurer+1-972-595-5180investors@sftp.com. Dr. Diabolical's Cliffhanger is a Dive Coaster manufactured by Bolliger & Mabillard that opened on July 30, 2022 at Six Flags Fiesta Texas. Karie Angell Luc/for the Daily Herald, 2021, Six Flags Great America guests enter the line for the Maxx Force ride in Gurnee. Event highlights for the 2022/2023 seasons include: On select days in June and July there will be an expanded food menu as part of an event called "Flavors of the World," and on select days in August the park will host Viva La Fiesta, which will include food and entertainment. These efficiency measures were offset by higher wage rates, and increases in repair and maintenance, utilities, and other costs due to inflation. To celebrate its 60th anniversary, Six Flags Over Texas announced today that two new rides will be arriving for the 2022 season. 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. If you have the newer Annual passes like . Real-time updates and all local stories you want right in the palm of your hand. We use these measures for internal planning and forecasting purposes, to evaluate ongoing operations and our performance generally, and in our annual and long-term incentive plans. About Six Flags Entertainment Corporation, Six Flags Entertainment Corporation is the worlds largest regional theme park company with 27 parks across the United States, Mexico and Canada. Six Flags' NEW For 2023 Coasters MIND BLOWING - YouTube Six Flags Announces First Quarter 2022 Performance Six Flags Entertainment Corporation is the worlds largest regional theme park company with 27 parks across the United States, Mexico and Canada. Press Releases 2022 - Six Flags "Adjusted EBITDA," a non-GAAP measure, is defined as Modified EBITDA minus the interests of third parties in the Modified EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta and Six Flags Over Texas). Cookie Notice In our press release, we make reference to non-GAAP financial measures including Modified EBITDA, Adjusted EBITDA and Adjusted EBITDA minus capex. Six Flags: Transformation Plan To A Quicker Recovery (NYSE:SIX) Six Flags parks are located to serve each of the top 11 designated market areas as identified by A.C. Nielsen Media Research, and serves 145 million people in a 50 mile radius, and 250 million . The parks will be open from noon to 5 p.m. on May 6 and 7 for season pass holders only. Robin & Superboy: The Escape | The Movies Wiki | Fandom 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. We use certain per capita metrics that are non-GAAP measures of the performance of our business on a per guest basis and believe that these metrics provide relevant and useful information for investors because they assist in comparing our operating performance on a consistent basis, make it easier to compare our results with those of other companies and our industry and allows investors to review performance in the same manner as our management. 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. RUMOR - Six Flags to Announce New Rides for 2021 - Theme Park Tourist (3). . Average Retirement Savings By Age: Are You Normal? Returning guest favorites and new offerings create endless opportunities for fun all year long. 2022 Six Flags. eSix Gaming at Six Flags Fiesta Texas in San Antonio SFMM: 2022-01-01 - Six Flags Six Flags Sets Date to Announce Third Quarter 2022 Earnings - Yahoo Finance Comparable periods are January 1 through October 3, 2021, compared to January 3 through October 2, 2022, resulting in three additional days in 2021. Reddit and its partners use cookies and similar technologies to provide you with a better experience. For more information, visit www.sixflags.com. Paddock Publications, Inc. is an Employee-Owned Company. Admissions revenue per capita is the total revenue generated from our guests, on a per guest basis, to enter our parks. Nelson took a trip during the July 4th fest, and noticed that Splashwater Falls looked different. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. In first quarter 2022, the company invested $29 million in new capital, net of insurance recoveries. Six Flags has been quickly executing to improve the guest experience, improving ride throughput by increasing ride uptime and implementing single rider lanes on busy days; improving staffing and training of our team members; upgrading our park appearance, including our front gates, restrooms and restaurants; providing better food quality; and offering more guest amenities such as benches, shade structures, and childrens areas, said Selim Bassoul, President and CEO. ARLINGTON, Texas--(BUSINESS WIRE)-- Adjusted EBITDA as defined herein may differ from similarly titled measures presented by other companies. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. . The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. At 7:00 a.m. Central Time today, November 10, 2022, the company will host a conference call to discuss its third quarter 2022 financial performance. March 4 - Six Flags Over Georgia opens for the 2023 season. Since most of the parks are not scheduled to be open during the first quarter, the company had a net loss of $66 million in first quarter 2022. The ride replaced the Sundance Theatre and celebrates the park's 30th year anniversary. April 7 - Six Flags New England opens for the 2023 season. Fright Fest and Holiday in the Park are registered trademarks of . Roller coaster and theme park photos, news, reviews, videos, articles and more. Adjustments to reconcile net loss 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 financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Definition and Reconciliation of Non-GAAP Financial Measures. During the unprecedented last four months, at a time when uncertainty and . Several outdoor water parks are set to open in May with full hours starting in June. 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. 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. For 61 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions. But, for the fourth straight year, there won't be any new roller coaster rides. We recommend the Diamond Pass for the best parking! Date. For 60 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Midway Mayhem - SIX FLAGS OVER GEORGIA NEW FOR 2022 - Facebook Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. To celebrate its 60 th anniversary, Six Flags Over Texas announced today that two new rides will be arriving for the 2022 season. 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.
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