SIX - Summer's Nearly Here and Six Flags Is Heating Up
The wintry months of January to March aren't exactly the hot season for amusement park operators . Still, Q1 sets the theme for the year's busier second and third quarters -- and so it was that investors tuned in last week to hear how things are looking at Six Flags (NYSE: SIX) , now under new management with former Middleby leader Selim Bassoul as CEO.
The news was good.
Working off an admittedly low base, given the slow season and the comparison to a pandemic Q1 2021, Six Flags nonetheless grew its park attendance numbers 25%, its revenue 68%, and -- well, no profit, unfortunately, but Six Flags cut its losses by 31% year over year. Six Flags welcomed 1.7 million guests to its parks in the quarter, extracted $138 million in revenue from their wallets, and lost $0.76 per share in the process.
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Summer's Nearly Here, and Six Flags Is Heating Up