SIX - Six Flags GAAP EPS of -$0.84 beats by $0.01 revenue of $142M beats by $8.51M

2023-05-08 06:02:13 ET

• Six Flags press release ( NYSE: SIX ): Q1 GAAP EPS of -$0.84 beats by $0.01 .
• Revenue of $142M (+2.9% Y/Y) beats by $8.51M .
• Total revenue for first quarter 2023 increased $4 million, or 3%, compared to first quarter 2022, driven by higher guest spending per capita, partially offset by lower attendance. The decrease in attendance was driven primarily by severe weather in our California and Texas parks.
• As of April 2, 2023, the company had total reported debt of $2,452 million, and cash or cash equivalents of $65 million.
• Deferred revenue was $152 million as of April 2, 2023, a decrease of $33 million, or 18%, from April 3, 2022. The decrease was primarily due to a lower Active Pass base as of April 2, 2023 versus April 3, 2022. In first quarter 2023, the company invested $25 million in new capital, net of insurance recoveries.
• The $5.42 increase in guest spending per capita compared to first quarter 2022 consisted of a $4.53 increase in Admissions spending per capita and a $0.89 increase in In-park spending per capita.

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