Six Flags Entertainment, theme park and water park operator, has reported record year-to-date attendance and revenue figures.
The company saw revenue of $621m for the third quarter of 2019, a $1m increase over the same period in 2018. The increase in revenue was attributable to attendance growth of three per cent, or 440,000, to 14 million guests in the third quarter of 2019, which was partially offset by a one per cent decrease in guest spending per capita and an expected 26 per cent decrease in sponsorship, international agreements and accommodations revenue.
Net income for the third quarter of 2019 decreased $5m, or two per cent, compared to the prior year period, and diluted earnings per share decreased two per cent to $2.11. These decreases were primarily driven by a change in a state tax law that provided a benefit in the prior year period. Adjusted EBITDA increased $547,000 to a record $307m compared to the prior year period. Cash operating and selling, general and administrative costs decreased one per cent in the third quarter of 2019 compared to the prior year period.
“We were pleased to achieve record attendance and revenue for the first nine months of 2019, with solid growth across both our legacy and newly acquired parks,” said Jim Reid-Anderson, chairman, president and CEO. “As a team, we are laser focused on achieving our tenth consecutive record year by driving our strategic growth areas, including growing penetration of our membership programs to benefit from the enhanced loyalty and lifetime value of members.”
