For 61 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions. . Karie Angell Luc/for the Daily Herald, 2021, Six Flags Great America guests ride Maxx Force in Gurnee. Starting in June, the park will have extended hours Friday through Sunday from 11 a.m. to 7 p.m. The increase in attendance was driven by increased operating days the quarter compared to the prior year period, which was negatively impacted by pandemic-related closures and operating restrictions. Visitors to Six Flags Great America will see improvements in comfort and fan experience at the Gurnee amusement park when it opens for the 2023 season Saturday, officials said. +1-972-595-5180 . These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19 and Monkeypox, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19 or other health emergencies such as Monkeypox, including with respect to business operations, safety protocols and public gatherings; economic impact of political instability and conflicts globally, including the war in Ukraine; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; the increased cost of capital due to raising interest rates; macro-economic conditions (including supply chain issues and the impact of inflation on customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). Privacy Policy. Total revenue for third quarter 2022 decreased $133 million, or 21%, compared to third quarter 2021, driven by lower attendance partially offset by higher per capita spending. Megan Cardona is a service journalism reporter at the Star-Telegram covering a variety of topics including government policy, community resources, entertainment and more to help residents navigate everyday life in North Texas. Maxx Force debuted in July 2019 and remains the park's newest roller coaster. Get your first thrills of the season, March 19 and 20. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. We prepare our financial statements in accordance with United States generally accepted accounting principles ("GAAP"). This state-of-the-art esports competitive gaming campus is complete with the newest high-tech equipment and the industry's biggest titles, providing an unmatched gaming experience. The increase in operating days was offset by a visitation shift of approximately 200 thousand guests from the first quarter to the second quarter 2022 due to the later timing of the Easter holiday, which caused some schools to schedule spring-break vacations in the second quarter of 2022 versus the first quarter in 2021. This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding (i) the effect, impact, potential duration or other implications of the COVID-19 pandemic or virus variants, and any expectations we may have with respect thereto including the continuing efficacy of the COVID-19 vaccines, (ii) the adequacy of our cash flows from operations, available cash and available amounts under our credit facilities to meet our liquidity needs, including in the event of a prolonged closure of one or more of our parks, (iii) our ability to execute our strategy to significantly improve our financial performance and the guest experience, (iv) expectations regarding consumer demand for regional, outdoor, out-of-home entertainment, including for our parks, and (v) expectations regarding our annual income tax liability and the availability and effect of net operating loss carryforwards and other tax benefits. Six Flags Sets Date to Announce Second Quarter 2022 Earnings. The park announced today that it will . Six Flags Wiki is a FANDOM Lifestyle Community. With over 20 brews on tap, popular North Texas brewery to open in Cleburne this summer, Viva Mxico! The park this morning announced that . Date. The company had a net income of $116 million in third quarter 2022, compared to $157 million in third quarter 2021. Search for self managed wealth investment accounts, https://www.businesswire.com/news/home/20221017005760/en/. The last roller coaster debut was Maxx Force in July 2019, which officials touted as having the fastest launch time -- zero to 78 mph in under 2 seconds -- of any coaster in North America. The company partially offset the decrease in revenue with lower cash operating costs. The Cave featured original characters called Speelunkers that were created exclusively for Six Flags Over Texas. 5-min read. . All rights reserved. Since most of the parks are not scheduled to be open during the first quarter, the company had a net loss of $66 million in first quarter 2022. We use cookies to optimize our website and our service. Will six flags release one of those "whats new to six flags 2022" official announcement videos this august like they do every year (even tho they didn't do one last year). does anyone know. Snake season in North Texas is here. For more information, visit www.sixflags.com. Texans celebrate Cinco because a Texan led Mexicos victory. (Amounts in thousands, except per share data), Sponsorship, international agreements and accommodations, Operating expenses (excluding depreciation and amortization shown separately below), Selling, general and administrative expenses (excluding depreciation, amortization, and stock-based compensation shown separately below), Less: Net income attributable to noncontrolling interests, Net income attributable to Six Flags Entertainment Corporation. The main announcement: Pirates of Speelunker Cave, isa re-imagined boat-like ride that will place guests squarely in the middle of a pirate treasure hunt thwarted by resident Speelunkers. This will open in early 2022. Six Flags America Shuts Down 2 Areas Indefinitely, Kentucky Kingdom Retires T3 Roller Coaster, Recapping OSUs SITE 2023 Student-led Conference, Review: Serengeti Flyer at Busch Gardens Tampa. The higher In-park spending reflects the companys in-park pricing initiatives. The reduction in operating costs was driven by full-time headcount reductions, fewer total employee hours worked, and lower advertising costs. Processing fees apply to online orders. View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005303/en/, Stephen Purtell 5 comments 100% Upvoted Log in or sign up to leave a comment Log In Sign Up April 15 Six Flags Great America re-opens for the 2022 season. Amounts recorded as Other expense, net include certain non-recurring costs incurred in conjunction with changes made to our organizational structure in December 2021 and the transformation plan initiated in early 2020. Maxx Force, which debuted in July 2019, remains the park's newest roller coaster. Only eleven parks announced their plans for the 2022 season, with two of them remaining delayed or being cancelled. This was a year of transition for Six Flags, as we made bold changes to our business model in order to elevate the guest experience and to position the company for sustainable, long-term earnings growth, said Selim Bassoul, President and CEO. Learn more about us here. Jul 28, 2021. [1] The market expects Six Flags (SIX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2023. About Six Flags Entertainment Corporation, Six Flags Entertainment Corporation is the worlds largest regional theme park company with 27 parks across the United States, Mexico and Canada. The park will be open primarily for weekends only until May 23, when daily admission will begin and will run through the summer. At 7:00 a.m. Central Time today, November 10, 2022, the company will host a conference call to discuss its third quarter 2022 financial performance. Six Flags Is About To Open Some Of The Biggest Coasters In The World! Six Flags has been quickly executing to improve the guest experience, improving ride throughput by increasing ride uptime and implementing single rider lanes on busy days; improving staffing and training of our team members; upgrading our park appearance, including our front gates, restrooms and restaurants; providing better food quality; and offering more guest amenities such as benches, shade structures, and childrens areas, said Selim Bassoul, President and CEO. Arlington, Texas August 25, 2022 Six Flags Over Texas, the Thrill Capital of Texas, today announced a robust lineup of special events during the 2022 and 2023 seasons. About Six Flags Entertainment Corporation. The call can be accessed through the Six Flags Investor Relations website, investors.sixflags.com, or by dialing 1-833-629-0614 in the United States or +1-412-317-9257 outside the United States and requesting the Six Flags earnings call. Adjusted EBITDA, as computed by us, may not be comparable to similar metrics used by other companies in our industry. The income per share was $1.39 compared to an income per share of $1.80 in third quarter 2021, driven by lower revenues partially offset by a reduction in expenses. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we make no assurance that such expectations will be realized and actual results could vary materially. Dr. Diabolical's Cliffhanger at Six Flags Fiesta Texas, Wonder Woman: Flight of Courage at Six Flags Magic Mountain. May May 7 Six Flags White Water re-opens for the 2022 season. Six Flags Great America guests ride on Superman: Ride of Steel at the Gurnee amusement park.
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