Annual Results of Six Flags Entertainment Corporation
Photo: Knott’s Berry Farm
(eap) Six Flags Entertainment Corporation has announced its results for the fourth quarter and full fiscal year 2024. The figures represent the first annual results following the completed merger of Six Flags and Cedar Fair on July 1, 2024. Accordingly, the results from July 1, 2024 through December 31, 2024 are attributable to operations under the merger, while the figures relating to the periods before represent Cedar Fair’s results prior to the effective date of the merger (Legacy Cedar Fair had been determined to be the accounting acquirer).
In total, the fourth quarter recorded 878 operating days and 10.7 million guests, generating total net revenue of USD 687 million (approx. EUR 656 million). Net loss amounted to USD 264 million (EUR 252 million) and adjusted EBITDA to USD 209 million (EUR 199 million). Per capita expenditure in the parks amounted to USD 61.60 (EUR 58.79), while revenue outside the parks totalled USD 48 million (EUR 46 million). In comparison, the number of operating days in Q4 2023 amounted to 377. The increase in operating days also led to an increase in total revenue, adjusted EBITDA, per capita expenses and revenue outside the park.
“Our strong fourth-quarter results reflect an outstanding October performance and the incredible popularity of our fall and Halloween themed events,” said Six Flags President and CEO Richard A. Zimmerman. “We ended the year as the new Six Flags on a high note, delivering on our goal of improving demand and increasing in-park guest spending levels, while operating our parks more efficiently. We successfully achieved more than USD 50 million in gross cost synergies and drove meaningful improvement in guest satisfaction scores and higher guest demand.”
There were 4,369 operating days in the financial year as a whole – compared to 2,365 in 2023. As a result, total revenue of USD 2,708.9 million (EUR 2,585.4 million) was generated in 2024 (2023: USD 1,798.7 million resp. EUR 1,716.7 million). Net loss also increased from around USD 125 million to USD 206.6 million and adjusted EBITDA from around USD 528 million (EUR 504 million) to USD 875 million (EUR 835 million). Per capita expenditure in the park amounted to USD 61.31 (EUR 58.51), a slight decrease compared to 2023 (USD 62.21 resp. EUR 59.37). Revenue outside the parks, on the other hand, rose from a total of USD 192 million (EUR 183 million) to USD 232 million (EUR 221 million).
Commenting on the outlook for the 2025 season, Zimmerman noted: “In 2025, we are building on the momentum we established over the second half of 2024 on both the revenue and cost fronts. We are making progress toward realizing the remaining USD 70 million in anticipated cost synergies from the merger, representing a targeted 4% reduction in operating costs and expenses, while advancing strategic initiatives to drive attendance and guest spending levels higher. We are seeing solid early demand trends, as evidenced by a 2% increase in attendance over the first two fiscal months of 2025 compared to combined attendance of the two legacy companies in the prior year period, as well as a 3% increase in combined season pass unit sales over that same period. We are focused on continuing to drive guest demand as we reopen the remainder of our parks and are thrilled to be introducing an exciting lineup of new rides and attractions, including compelling new marketable products at 11 of our 14 largest locations. Our investments in new thrills and experience-enhancing initiatives demonstrate our commitment to delivering world-class entertainment for guests and meaningful growth and value creation for shareholders.” ■
