SIX - Six Flags stocks down 7.7% on earnings miss

Six Flags Entertainment (SIX) reports attendance of 2.6M guests in Q3 vs. 14M year ago and a 10% rise in guest spending per capita.The decrease in attendance was due to the temporary pandemic-related suspension of operations at nine of the company’s 26 parks during the quarter and limited attendance at the parks that were open.Sponsorship, international agreements and accommodations revenue squeezed 84.6% to $4.07MThe company's Active Pass Base decreased 49% Y/Y as it sold significantly fewer season passes and memberships while many of its parks remained closed.Deferred revenue was $199M as of September 30, an increase of $1M Y/Y, primarily due to the deferral of revenue from members and season pass holders whose benefits were extended into 2021, almost entirely offset by lower season pass and membership sales.Adjusted EBITDA was -$53.8M vs. $307.27M year ago.The company estimates that its net cash outflow through the end of 2020 will be on average $25M-$30M per month. The company

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Six Flags stocks down 7.7% on earnings miss