Six Flags Reports First Quarter 2024 Performance
© Photo: Jason Risner Photography, 2020.
(eap) The Six Flags Entertainment Corporation has announced its results for the first quarter of fiscal year 2024. Overall, the company generated revenue of USD 133 million (approx. EUR 123 million), a net loss of USD 83 million (around EUR 77 million) and an adjusted EBITDA loss of USD 26 million (approx. EUR 24 million) in the first quarter of this fiscal year.
Total revenue for Q1 2024 decreased by USD 9 million (around EUR 8.3 million) or six percent compared to the same period last year. This change was primarily due to a reduction in membership revenue, which is recognized on a monthly basis rather than based on attendance, and an adjustment to international license revenue of USD 4 million (approx. EUR 3.7 million) due to a change in the estimated opening date of Six Flags Qiddiya to mid-2025. These decreases were partially offset by higher attendance, primarily due to the earlier timing of the Easter holiday.
“Our 2024 season is off to a promising start, with 2024 season pass sales through April increasing by double-digits compared to last year, pre-booked group sales approaching pre-pandemic levels, and our park beautification and technology initiatives resonating strongly with our guests,” said Selim Bassoul, President and CEO of Sixflags. “We remain focused on delivering a world-class experience for our guests, and we are excited to launch many thrilling new rides, attractions, and immersive experiences in time for the peak summer season. As we fully ramp up our operations between now and Memorial Day, we are confident in our ability to build upon early season momentum.”
The Q1 results relate to all regional amusement and water parks operated by Six Flags Entertainment in North America. Their number will be even bigger in the future as part of the group’s reorganisation: At the beginning of November 2023, Six Flags announced its merger with Cedar Fair Entertainment Company. The merger is expected to be completed in the first half of 2024 after regulatory approvals have been obtained and customary closing conditions have been satisfied. ■
