SIX - Six Flags' Winter Attendance Woes Still Don't Raise Any Red Flags
- Six Flags saw attendance fall over 80% YoY as revenues dropped significantly during Q3.
- A credit facility amendment from August eliminated dividends and share buybacks until year-end 2022 to ensure liquidity remains strong.
- Debt still trades near par, at higher levels across the board than it had in April, when the situation was still quite unclear.
- The earliest maturity comes in 2024, and cash burn remains low, so liquidity is not an issue.
- Losses stemming from meager revenues and low attendance will lead to income tax benefits in the upcoming years.
For further details see:
Six Flags' Winter Attendance Woes Still Don't Raise Any Red Flags