Market Overview - Pre-market trading has declined, reflecting a cautious sentiment towards AI infrastructure spending and a lack of economic data, particularly during what was expected to be Jobs Week [1] - The market has seen a downward trend over the past five days, moving away from all-time highs reached in late October [1] Employment Data - Non-farm payroll numbers from the U.S. Bureau of Labor Statistics (BLS) are unavailable due to a government shutdown, with estimates suggesting a loss of 60,000 jobs last month [2] - The unemployment rate is expected to rise to 4.5%, while hourly wages are anticipated to remain steady at a year-over-year increase of 0.3% [2] - ADP reported an addition of 42,000 new jobs, which is better than BLS estimates but still indicates a weak labor market [3] - The Challenger Job Cuts report indicated 153,000 job cuts, highlighting ongoing challenges in employment [3] Interest Rate Expectations - There is a tentative expectation for a 25 basis-point interest rate cut in approximately 4.5 weeks, although market indexes may have already priced in this cut [4] - The "neutral rate" of inflation is uncertain but is believed to be higher than the optimal 2% [4] Earnings Reports - Wendy's (WEN) reported Q3 earnings of $0.24 per share, exceeding expectations by 20%, leading to a 9% increase in shares [5] - Six Flags Entertainment (FUN) posted earnings of $3.28 per share, surpassing the consensus estimate by 46.4%, although shares are down 2% in early trading [5] - Fluor (FLR) reported Q3 earnings of $0.68 per share, beating expectations by 54.55%, with shares up 4.6% in pre-market trading [6] - Constellation Energy (CEG) reported earnings of $3.04 per share, falling short of the anticipated $3.13, resulting in a 6.3% decline in shares [7] - Canopy Growth (CGC) shares increased by 12% despite reporting a loss of $0.01 per share, an improvement from the expected loss of $0.10 [8] Consumer Sentiment and Credit - The University of Michigan Consumer Sentiment report for November is expected to show a slight decrease to 53.0 from 53.6, remaining above the neutral threshold of 50 [9] - Consumer credit for September is projected to total $10.0 billion [9]

Six Flags Entertainment (NYSE:FUN) Q3 2025 Earnings Call November 07, 2025 08:00 AM ET Speaker2Thank you for standing by. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Six Flags Entertainment Corporation 2025 third quarter earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply ...

NYSE: FUN 2025 Third Quarter Earnings Call Presentation November 7, 2025 Safe Harbor Some of the statements contained in this presentation that are not historical in nature are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements as to our expectations, beliefs, goals and strategies regarding the future. Words such as "anticipate," ...

Core Insights - Six Flags reported lower third-quarter revenue, indicating challenges in demand growth during the quarter [1] Company Performance - The company’s efforts to stimulate demand were unsuccessful in the third quarter, leading to a decline in revenue [1]

Core Insights - Six Flags Entertainment Corporation reported a net loss of $1.2 billion for Q3 2025, primarily due to a $1.5 billion non-cash impairment charge on goodwill and other intangibles, compared to a net income of $111 million in Q3 2024 [5][13][8] - The company experienced a 2% decline in net revenues, totaling $1.32 billion, down from $1.35 billion in the same quarter last year [5][7] - Attendance increased by 1% to 21.1 million guests, reflecting strong performance in key parks, which represent approximately 70% of park-level Modified EBITDA [5][12][4] Financial Performance - Adjusted EBITDA for Q3 2025 was $555 million, a slight decrease of $3 million compared to Q3 2024 [5][14] - Operating costs and expenses decreased by $122 million to $772 million, driven by lower depreciation and amortization expenses [7][8] - The company recognized a $1.5 billion impairment charge, significantly impacting the operating loss, which totaled $1.1 billion for the quarter [9][8] Attendance and Revenue Metrics - Total operating days were 2,573, slightly down from 2,585 days in Q3 2024 [5][6] - In-park per capita spending decreased by 4% to $59.08, with admissions per capita spending down 8% to $31.48 [12][5] - Out-of-park revenues increased by 6% to $108 million, attributed to higher sponsorship activity [12][5] October Update - Preliminary attendance for the five-week period ending November 2, 2025, was 5.8 million guests, an 11% decrease compared to the same period last year [16] - Sales of 2026 season passes increased by approximately 3% compared to the previous year, reflecting a 5% rise in average season pass price [17] Balance Sheet and Liquidity - As of September 28, 2025, total liquidity was reported at $763 million, including cash and available borrowings [18] - Net debt stood at $4.98 billion, calculated as total debt of $5.03 billion minus cash and cash equivalents of $71 million [19][36] Updated Fiscal Outlook - The company anticipates full-year 2025 Adjusted EBITDA in the range of $780 million to $805 million based on year-to-date results and preliminary October data [20]

Core Insights - Six Flags Entertainment Corporation is a leading operator of theme parks and water parks in North America, competing with Cedar Fair and SeaWorld [1] - The company is set to release its quarterly earnings on November 7, 2025, with analysts estimating an EPS of $2.32 and projected revenue of $1.34 billion [1][4] Financial Metrics - The price-to-sales ratio is 0.59, indicating the stock is valued at 59 cents for every dollar of sales, suggesting potential undervaluation [2] - The enterprise value to sales ratio is 2.30 and the enterprise value to operating cash flow ratio is 23.18, indicating the company is still viewed as viable despite earnings challenges [2] Leverage and Liquidity Concerns - The debt-to-equity ratio is high at 3.11, indicating significant reliance on debt for financing operations, which poses risks if cash flow generation is insufficient [3] - The current ratio is 0.52, suggesting potential liquidity issues as the company may struggle to cover short-term liabilities with current assets [3][4]

Core Viewpoint - A class action lawsuit has been filed against Six Flags Entertainment Corporation (NYSE: FUN) on behalf of investors who acquired shares during the merger with Cedar Fair, alleging that the company misled investors regarding its financial health and operational needs prior to the merger [1][2]. Group 1: Merger Details - The merger between Legacy Six Flags and Cedar Fair was approved by shareholders on March 12, 2024, and closed on July 1, 2024, resulting in the creation of North America's largest regional amusement park operator with approximately 40 amusement parks and water parks [1][2]. - Following the merger, the newly formed entity changed its name to Six Flags and began trading under the ticker symbol "FUN" on the NYSE [2]. Group 2: Allegations Against Six Flags - The lawsuit alleges that Legacy Six Flags had significantly underinvested in its parks and operations, neglecting essential maintenance and improvements for several years before the merger [2]. - It is claimed that Legacy Six Flags required millions of dollars in undisclosed capital expenditures to maintain or grow its market share in the competitive amusement park industry [2]. - The complaint states that the financial projections presented to investors were unrealistic and not based on the actual conditions of the company at the time of the merger [2]. Group 3: Stock Performance - On the merger closing date, Six Flags stock was trading above $55 per share, but it subsequently plummeted to as low as $20 per share, marking a decline of nearly 64% [3].

Core Viewpoint - A class action lawsuit has been filed against Six Flags Entertainment Corporation for alleged violations of federal securities laws related to the merger with Cedar Fair, L.P. [1][2] Group 1: Allegations and Issues - The lawsuit claims that the Registration Statement for the merger was negligently prepared, containing untrue statements and omissions that misled investors [2] - It is alleged that Legacy Six Flags suffered from chronic underinvestment, requiring millions in additional capital and operational expenditures to maintain its market position [2] - Prior to the merger, Legacy Six Flags deferred essential maintenance and operational improvements, which were not disclosed in the Registration Statement [2] Group 2: Impact on Investors - Following the merger announcement, Six Flags' common stock experienced a significant decline, resulting in financial losses for investors [3] - Investors who suffered losses exceeding $100,000 are encouraged to participate in the lawsuit [3] Group 3: Company Background - Lowey Dannenberg P.C. is a law firm specializing in representing investors who have suffered financial losses due to corporate fraud and violations of securities laws [4]

Core Insights - Six Flags Entertainment Corporation (FUN) is expected to report quarterly earnings of $2.32 per share, reflecting a 46.8% increase year-over-year, while revenues are forecasted at $1.35 billion, indicating a slight decline of 0.2% compared to the previous year [1] Earnings Projections - The consensus EPS estimate has been revised down by 0.9% in the last 30 days, indicating a reassessment by analysts [2] - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3] Revenue Estimates - Analysts project 'Net revenues- Admissions' to be $712.99 million, a decrease of 0.5% from the prior year [5] - 'Net revenues- Accommodations, extra-charge products and other' are expected to remain flat at $194.93 million year-over-year [5] - 'Net revenues- Food, merchandise and games' are anticipated to reach $434.00 million, reflecting a decline of 0.6% from the previous year [5] Attendance Forecast - The estimated attendance for the quarter is 21.30 million, up from 20.97 million in the same period last year [6] Stock Performance - Over the past month, shares of Six Flags have decreased by 6.1%, contrasting with a 1.3% increase in the Zacks S&P 500 composite [6] - Currently, FUN holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the overall market in the near term [6]

Core Viewpoint - The class action lawsuit against Six Flags Entertainment Corporation alleges that the company misrepresented its financial health and operational needs during its merger with Cedar Fair, leading to significant stock price declines post-merger [3][4]. Company Overview - Six Flags Entertainment Corporation operates amusement parks and was formerly known as CopperSteel HoldCo, Inc. [2]. Merger Details - The merger between Legacy Six Flags and Cedar Fair was completed on July 1, 2024, with Six Flags stock initially trading above $55 per share [4]. - Following the merger, the stock price plummeted to as low as $20 per share, representing a nearly 64% decline [4]. Allegations of Misrepresentation - The lawsuit claims that the registration statement for the merger failed to disclose chronic underinvestment in Legacy Six Flags, which required millions in additional capital to maintain operations [3]. - It is alleged that the company's executives misled investors by claiming transformational investments were made prior to the merger [3]. - The new CEO, Selim Bassoul, reportedly cut employee headcount to reduce costs, which negatively impacted operational competence and guest experience [3]. Legal Proceedings - The class action lawsuit is titled "City of Livonia Employees' Retirement System v. Six Flags Entertainment Corporation" and was filed in the Northern District of Ohio [1]. - Investors have until January 5, 2026, to seek appointment as lead plaintiff in the lawsuit [1].