Core Viewpoint - Six Flags Entertainment Corporation (FUN) has significantly underperformed in the market, losing 24.7% over the past three months, while the leisure and recreation services industry grew by 42% [1]. Financial Performance - The Zacks Consensus Estimate for Six Flags' 2024 earnings has decreased from $2.25 to $2.08 per share, indicating a 27% decline year-over-year [3]. - The third-quarter earnings estimate also fell from $3.22 to $3.07 per share, reflecting a 27.1% year-over-year decline [3]. Demand and Attendance Issues - The company is experiencing soft demand patterns due to a shift in consumer spending towards non-discretionary items and savings, influenced by macroeconomic trends [4][5]. - Attendance dropped by 2% in Q2 2024 compared to the previous year, attributed to fewer operating days and the earlier timing of the Easter holiday [6]. - For the five weeks ending August 4, 2024, attendance was 10.9 million, marking a 3% decline from the same period last year [6]. Cost and Expense Challenges - Six Flags has faced rising costs and expenses, with a notable $21.3 million attributed to merger-related costs from the merger with Cedar Fair, L.P. [7]. - In the first half of 2024, operating costs and expenses rose by 11.1% year-over-year, driven by a $40.9 million increase in selling, general and administrative (SG&A) expenses, a $13.3 million rise in operating expenses, and a $5.9 million increase in the cost of goods sold [8].

Core Insights - Carowinds is launching new fall events including Tricks and Treats and Oktoberfest, while SCarowinds will now be included with a single admission ticket for the first time since its inception in 2000 [1][2] Fall Events Overview - SCarowinds will run select nights from September 13 to October 27, featuring four scare zones, five mazes, and four shows, enhancing the Halloween experience with select rides open during the event [2] - Tricks and Treats will take place from September 14 to October 27, offering family-friendly activities such as pumpkin picking, themed games, and live entertainment on weekends [4] - Oktoberfest will be held on weekends from September 14 to November 2, showcasing authentic German food, beer, and live music, along with traditional games and contests [5][6] Ticketing and Passes - A 2025 Gold Season Pass is now available, providing unlimited access to Carowinds and Carolina Harbor Waterpark for the remainder of 2024 and all of 2025, including admission to seasonal events [7] Company Background - Carowinds is a 400-acre amusement park located on the North Carolina-South Carolina state line, featuring over 58 rides and attractions, including the world's tallest and fastest giga coaster, Fury 325 [8] - Six Flags Entertainment Corporation operates 27 amusement parks and is focused on providing immersive experiences to millions of guests annually [9]

Core Insights - Six Flags Entertainment plans to introduce seven new roller coasters across its parks in 2025, enhancing its attraction offerings [1][2] - The company will also launch an expanded all-park passport, allowing unlimited admission and parking at all 42 Six Flags locations [3] - Following the investment announcement, Six Flags' stock rose over 3% and is approximately 11% higher year-to-date [4] Group 1 - The new roller coaster, Wrath of Rakshasa, will feature a 171-foot drop, reach speeds of 67 miles per hour, and include five inversions [2] - Additional attractions will be introduced at various parks, including Camp Snoopy, Canada's Wonderland, and locations in Texas and California [2] Group 2 - CEO Richard Zimmerman emphasized the company's commitment to providing thrilling experiences and unforgettable memories for guests of all ages through its capital plans [3]

Six Flags Entertainment Corporation (FUN) reported $571.62 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 14.1%. EPS of $1.08 for the same period compares to $1.04 a year ago. The reported revenue represents a surprise of +8.76% over the Zacks Consensus Estimate of $525.57 million. With the consensus EPS estimate being $1.06, the EPS surprise was +1.89%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Six Flags Entertainment Corporation (NYSE:FUN) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET Company Participants Michael Russell - Corporate Director of Investor Relations Brian Witherow - Chief Financial Officer Richard Zimmerman - President and Chief Executive Officer Conference Call Participants Lizzie Dove - Goldman Sachs James Hardiman - Citi Steve Wieczynski - Stifel Thomas Yeh - Morgan Stanley Matthew Boss - JPMorgan Michael Swartz - Truist Securities Ben Chaiken - Mizuho Chris Woronka ...

Vaughan, ON, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Canada's Wonderland, an amusement park just north of Toronto, is inviting guests to face nature's wrath next year on AlpenFury, the longest, tallest and fastest launch coaster in Canada. When fire and ice come together inside the mysterious Wonder Mountain, the force will propel riders into a thrilling journey beginning with a launch that blasts the train out the summit, 164 feet into the sky. The coaster will span 3,281 feet across the park, reaching speeds of ...

Analysts on Wall Street project that Six Flags Entertainment Corporation (FUN) will announce quarterly earnings of $1.29 per share in its forthcoming report, representing an increase of 24% year over year. Revenues are projected to reach $971.15 million, increasing 93.9% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 4.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial pr ...

New Attractions: Snoopy's Racing Railway: Guests can join Snoopy as he races to deliver root beer and pizza to Camp Snoopy's Mess Hall, where Woodstock and his yellow bird buddies are causing quite a ruckus. This family-friendly steel launch coaster accelerates from 0 to 31 mph in seconds, providing an exhilarating adventure for all ages. Riders will experience exciting dips and wild turns, ensuring the delivery arrives safely and on time. Riders get double the fun as they race through the course twice. Cha ...

Rapterra, inspired by the powerful Jungle Hawk, offers riders the sensation of flight. The adventure begins with a powerful launch, accelerating passengers to 65 miles per hour in just four seconds before ascending to its zenith over the Jungle X-Pedition midway. The ride then plummets into a dive loop, and navigates a series of thrilling aerial maneuvers, including an S-turn, a wing slide, a flat spin, an airtime hill, and a 360-degree raptor roll. The 89-second ride totals three inversions before a smooth ...

Six Flags Entertainment NYSE: SIX announced last week the successful completion of its merger with Cedar Fair NYSE: FUN. The merger of these two firms in the consumer discretionary sector creates one of the largest theme park operators in North America. It will compete with firms such as the Walt Disney Company NYSE: DIS and Universal Studios. Going forward, the combined entity will operate under the name Six Flags Entertainment. Shares will trade on the New York Stock Exchange under the ticker symbol FUN. ...