NEW YORK, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of  Six Flags Entertainment Corporation (“Six Flags” or the “Company”) (NYSE: FUN).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Six Flags and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class ac ...

Company Performance - Tivoli A/S reported a revenue of DKK 445.0 million for the first half of 2025, a decrease of 2% compared to DKK 455.3 million in the same period last year [4] - The company recorded an EBITDA of DKK -17.8 million, worsening from DKK -6.3 million in the previous year [4] - Profit before tax was DKK -76.1 million, compared to DKK -63.5 million last year [4] - Attendance figures showed 1.3 million visitors, down 5% from 1.39 million in the first half of 2024 [4] Seasonal Insights - The summer season for Tivoli opened on April 4, 2025, which was two weeks later than in 2024 due to a later Easter [1] - Despite unstable weather and significant rainfall impacting outdoor operations, overall attendance met expectations [1][2] - Approximately one-third of the visitors were from international markets, indicating growing interest from European and U.S. markets [1] Future Outlook - Tivoli maintains its revenue expectations for 2025 in the range of DKK 1,300 million and profit before tax in the range of DKK 130 million [2] - The redevelopment of a new amusement area is on track to open in summer 2026, which will include new attractions and culinary experiences [1] - The company anticipates a well-attended late summer season, particularly looking forward to the upcoming Garden & Flower Festival at the end of August [1]

Core Insights - Six Flags is launching a new Halloween attraction called "The Conjuring: Beyond Fear," which will feature interactive experiences based on the horror franchise [1][2] - The attraction will debut in multiple parks, including Carowinds, Cedar Point, Canada's Wonderland, and Kings Island, and will require an additional purchase [2] - The 2025 Halloween season will see the return of several iconic horror properties in haunted mazes across seven theme parks, enhancing the overall scare experience [3][4] Group 1: New Attractions - "The Conjuring: Beyond Fear" will offer a 20-minute immersive experience where guests navigate scenes from The Conjuring Universe [2] - New haunted mazes include "The Strangers: No Escape," "SAW: Legacy of Terror," and "Army of the Dead," each designed to elevate the horror experience [4] - Original themed mazes will also be available, featuring various horror elements such as demented clowns and possessed puppets [5] Group 2: Seasonal Events and Activities - Six Flags parks will host family-friendly daytime events, including trick-or-treat trails and pumpkin patches, ensuring a mix of fun and fear [10] - The parks will also feature scare zones, live entertainment, and themed rides that enhance the Halloween atmosphere [7][8] - Special events like Oktoberfest will be included, offering festive activities alongside Halloween attractions [13] Group 3: Ticketing and Access - The Haunted Attractions Pass will provide unlimited access to all haunted mazes for one evening, while season passholders can enjoy season-long access [12] - A special MVP sale offers unlimited access to over 40 parks for the remainder of 2025 and all of 2026, including numerous attractions [11] - Each park's specific offerings and ticketing details will be available on their respective websites [6]

Core Insights - Six Flags Entertainment Corporation reported disappointing second-quarter sales of $930.39 million, missing the analyst consensus estimate of $1.05 billion [1] - The company’s adjusted earnings per share decreased to 26 cents from 40 cents year-over-year, while GAAP earnings per share fell to 99 cents from $1.08 [1] - CEO Richard Zimmerman expressed disappointment over the start of the 2025 season, indicating that expectations were not met despite previous progress post-merger [2] Financial Projections - Six Flags revised its 2025 EBITDA projection to a range of $860 million to $910 million, citing weaker-than-expected season pass sales and ongoing economic uncertainty as key factors [3] - The company anticipates that a smaller season pass base will hinder demand and limit attendance growth until the 2026 season pass program is introduced [3] Analyst Reactions - Following the earnings announcement, several analysts adjusted their price targets for Six Flags: - Jefferies downgraded the stock from Buy to Hold, lowering the price target from $41 to $25 [6] - Mizuho maintained an Outperform rating but reduced the price target from $36 to $30 [6] - Barclays kept an Overweight rating while lowering the price target from $40 to $27 [6] - Guggenheim maintained a Buy rating and cut the price target from $48 to $43 [6] - Goldman Sachs maintained a Neutral rating and reduced the price target from $30 to $23 [6]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $490.2 million, a decrease of $7.4 million or 1.5% compared to Q2 2024, primarily due to decreases in admissions per capita and in-park per capita spending, partially offset by an increase in attendance [20][21] - Attendance increased by approximately 48,000 guests or 0.8% year-over-year, attributed to a favorable calendar shift, including the shift of Easter and spring break holidays [20][21] - Net income for Q2 2025 was $80.1 million, down from $91.1 million in Q2 2024, and adjusted EBITDA was $206.3 million, a decrease of $11.9 million compared to the previous year [22][23] Business Line Data and Key Metrics Changes - Attendance at all Orlando parks, including SeaWorld Orlando, Aquatic Orlando, and Discovery Cove, saw an increase despite adverse weather conditions [5][6] - The company is experiencing positive forward booking trends in group business and at Discovery Cove, with mid to high single-digit increases expected for the remainder of the year [6][8] Market Data and Key Metrics Changes - The company reported a net total leverage ratio of 3.0 times as of June 30, 2025, with approximately $883 million in total available liquidity, including $194 million in cash [9][23] - Deferred revenue decreased by approximately $22.7 million compared to June 2024, indicating a decline in pass sales [23] Company Strategy and Development Direction - The company has approved a $500 million share repurchase program, reflecting confidence in its business and the belief that shares are undervalued [8][9] - The company is focusing on operational efficiencies and has implemented a cost reduction plan expected to save up to $15 million in the second half of the year [10][25] - Strategic initiatives include enhancing sponsorship opportunities and digital transformation efforts, with a focus on CRM capabilities and mobile app functionality [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2025, citing positive trends in group bookings and early ticket sales for upcoming events [28][74] - The company anticipates improved weather conditions compared to the previous year, which should positively impact attendance and revenue [74] Other Important Information - The company is in discussions for potential international partnerships and expects to sign two MOUs by the end of the year [16] - The mobile app has been downloaded over 15.6 million times, with a 35% increase in average transaction value for food and beverage purchases made through the app [17][18] Q&A Session Summary Question: Did the company do anything to drive visitation in light of the Epic opening? - Management acknowledged increased marketing efforts and promotional activities due to weather impacts, which helped drive visitation [34][35] Question: Why is deferred revenue down despite positive forward indicators? - Management explained that a mix of factors, including the type of passes sold and promotional activities, contributed to the decline in deferred revenue [36][38] Question: What are the trends in admissions per capita? - Management noted that while admissions per capita were down, they expect to improve these metrics with better weather and promotional strategies [44][66] Question: Are there signs of consumer spending less? - Management indicated that in-park spending was slightly down but expressed optimism about improving this metric during the upcoming Halloween and Christmas seasons [78] Question: Can the company leverage fall and winter events to boost summer attendance? - Management acknowledged the opportunity to market seasonal passes that include access to popular fall and winter events, potentially driving summer attendance [84]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $490.2 million, a decrease of $7.4 million or 1.5% compared to Q2 2024, primarily due to decreases in admissions per capita and in-park per capita spending, partially offset by an increase in attendance [19][20] - Attendance increased by approximately 48,000 guests or 0.8% year-over-year, attributed to a favorable calendar shift, including the shift of Easter and spring break holidays [19][20] - Net income for Q2 2025 was $80.1 million, down from $91.1 million in Q2 2024, and adjusted EBITDA was $206.3 million, a decrease of $11.9 million compared to the previous year [21][22] Business Line Data and Key Metrics Changes - Attendance at all Orlando parks, including SeaWorld Orlando, Aquatic Orlando, and Discovery Cove, increased despite adverse weather conditions [5][6] - The company is seeing positive forward booking trends in group business and at Discovery Cove, with mid to high single-digit increases expected for the remainder of the year [6][12] Market Data and Key Metrics Changes - The company reported a net total leverage ratio of 3.0 times as of June 30, 2025, with total available liquidity of approximately $883 million, including $194 million in cash [8][23] - Deferred revenue decreased by approximately $22.7 million compared to June 2024, indicating a decline in pass sales [23] Company Strategy and Development Direction - The company has approved a new $500 million share repurchase program, reflecting confidence in its undervalued shares and strong balance sheet [7][8] - Strategic initiatives include enhancing sponsorship opportunities, digital transformation through CRM and mobile app improvements, and exploring international partnerships [14][15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about upcoming events, including Halloween and Christmas, which are expected to drive attendance and revenue [28][66] - The company is focused on improving operational efficiencies and managing costs, with an additional cost reduction plan expected to save up to $15 million in the second half of the year [9][25] Other Important Information - The company has invested $110.5 million in CapEx as of June 30, 2025, with expectations to spend $175 million to $200 million on core CapEx for the year [24][25] - The mobile app has been downloaded over 15.6 million times, showing a 35% increase in average transaction value for food and beverage purchases made through the app compared to point-of-sale orders [15][16] Q&A Session Summary Question: Did the company do anything to drive visitation in Orlando parks? - Management acknowledged increased marketing efforts in response to the opening of Epic Universe and weather impacts, which necessitated promotional strategies [32][34] Question: Why is deferred revenue down despite positive forward indicators? - Management explained that the mix of products and promotional activities impacted deferred revenue, but positive indicators in group bookings and Discovery Cove provide confidence [36][38] Question: What are the trends in consumer spending? - Management noted that in-park spending was slightly down but indicated that there were no significant signs of consumer pullback, with positive indicators in certain parks [48][50] Question: Can the company leverage Halloween and Christmas events to boost summer attendance? - Management confirmed that they are working to promote season passes that include access to Halloween and Christmas events, aiming to drive summer attendance [82][83]

Financial Data and Key Metrics Changes - Adjusted EBITDA for the quarter fell well below plan, reflecting a significant decline in attendance due to macro factors and extreme weather conditions [20][24][34] - The company ended the quarter with approximately $107 million in cash and cash equivalents, with total liquidity of $540 million [20] - Gross debt outstanding at the end of the second quarter was approximately $5.3 billion, with net debt to annualized second quarter adjusted EBITDA at approximately 6.2 times, above the target range of sub four times [22][34] Business Line Data and Key Metrics Changes - Attendance at Legacy Cedar Fair parks was up 3% during July, while per capita spending on admissions increased by 4% [25][30] - Per capita spending on in-park products at Legacy Cedar Fair parks was up 3%, driven by higher guest spending on food, beverage, and merchandise [25] - The company introduced a reimagined pass structure for the 2026 season pass program to enhance appeal and attract new customers [16] Market Data and Key Metrics Changes - Combined attendance was down 12% over a six-week period due to severe weather, while attendance was flat during the first seven weeks of the quarter when weather was not an issue [24] - Attendance in July was up 1%, with preliminary net revenues down approximately 3% due to pressure on guest spending [29][34] - The company experienced a surge in demand for parks in July, with season pass sales climbing rapidly [11][29] Company Strategy and Development Direction - The company is focused on optimizing assets and reducing net leverage while executing integration efforts [10][18] - A significant restructuring was completed to flatten leadership layers and improve agility, aiming for annualized labor cost reductions of over $20 million [17] - The company is actively pursuing divestitures of non-core assets to accelerate deleveraging [22][58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the challenges faced in the first half of the year are largely transient and not indicative of a fundamental change in consumer behavior [49] - The company anticipates stronger second-half results with normalized weather conditions and improved demand trends [37][39] - Management remains committed to reducing leverage and is evaluating opportunities to monetize non-core assets [38][39] Other Important Information - The company incurred $11 million in non-recurring merger-related integration costs and $28 million in adjusted EBITDA add-backs during the quarter [27] - The company expects to reduce full-year operating costs and expenses by 3% compared to last year's combined cost base [18][35] Q&A Session Summary Question: Clarification on macro pressures - Management clarified that macro pressures include significant weather impacts and some pressure on lower-income consumers, but overall spending behavior at parks remains strong [44][46] Question: Impact of weather on long-term targets - Management believes the challenges faced are transient and not reflective of long-term potential, with a focus on finishing 2025 strong and building momentum for 2026 [49][50] Question: Details on divestitures - Management is actively pursuing two non-core asset sales and evaluating other potential divestitures to optimize the portfolio [58][59] Question: Cost savings and synergies - Management confirmed that the goal for permanent cost savings remains at $120 million, with a focus on realizing these synergies in the second half of the year [61][62] Question: Guidance on attendance and pricing - Management indicated that attendance is expected to be flat for the second half, with pricing strategies being adjusted based on demand trends observed in recent weeks [34][91]

Core Insights - Hurricane Harbor has introduced Splash Island, designed for family enjoyment, featuring new amenities and dining options [1][2] - The park includes enhanced family cabanas, updated facilities, and a reimagined restaurant with a new menu [2][6] - Six Flags Over Texas operates multiple parks and attractions, emphasizing immersive experiences for guests [4][5] Group 1: Park Features - Splash Island offers a massive footprint of 58,000 square feet, including a multi-level treehouse play structure standing 50 feet tall [6] - The water park features 17 water slides, 110 interactive water features, and a large splash pad [6] - A Texas-sized tipping bucket can carry 1,000 gallons of water, enhancing the park's attractions [6] Group 2: Dining and Amenities - The Smokehouse on the Water restaurant has been completely reimagined with a new menu featuring in-house smoked brisket and pulled pork [2] - Guests can enjoy side dishes like house-made macaroni and cheese, chopped salad, and cornbread [2] - New family cabanas with relaxing beach furniture and themed murals have been added to improve the overall guest experience [1][2] Group 3: Company Overview - Six Flags Entertainment Corporation is the largest regional amusement-resort operator in North America, with 27 amusement parks and 15 water parks [5] - The company focuses on providing fun and memorable experiences, leveraging popular intellectual properties like Looney Tunes and DC Comics [5] - Six Flags Over Texas and Hurricane Harbor are positioned as premier destinations for family entertainment [4]

Core Insights - Six Flags plans to close California's Great America at the end of the 2027 season, marking another site closure for the entertainment group [1][2] - The park has been described as having low margins, contributing to the decision to shut it down [2] - The park has a history of ownership changes and was sold to Prologis in 2022, with plans for redevelopment after the lease ends [3][6][11] Company Strategy - The decision to close the park aligns with a comprehensive review of the park portfolio, indicating that certain locations are not a strategic fit for long-term growth [11] - Six Flags and Cedar Fair merged in July 2024, creating the largest amusement park operator in North America with 42 parks [8][9] - The company is focusing on partnerships with planning and design experts to develop a master plan for the site post-closure [7][8] Financial Aspects - Prologis purchased the land for $310 million, with an agreement for the park to operate until the lease expires in June 2028, with a potential five-year extension [6] - The closure of Six Flags America in Maryland is also planned for the end of the 2025 season, further indicating a shift in the company's operational focus [9][11]

Summary of Six Flags Entertainment (SIX) 2025 Investor Day Company Overview - **Company**: Six Flags Entertainment (SIX) - **Event**: 2025 Investor Day - **Date**: May 20, 2025 - **Location**: Cedar Point, Sandusky, Ohio Key Points Industry and Market Position - Six Flags is the leading regional amusement park operator in North America, operating 42 parks and entertaining almost 50 million guests annually [14][20] - The amusement park sector is projected to grow at a CAGR of nearly 4% over the next five years, indicating long-term tailwinds for the industry [22] Merger and Integration - The merger has created a stronger and more strategically positioned company, allowing for cost synergies and improved guest experiences [8][9] - The company aims to reduce leverage to below 4x by the end of 2026, which will enable cash returns to shareholders [11] - The integration process is on track, with positive trends in guest satisfaction, attendance, and revenue [34] Financial Targets - By 2028, Six Flags targets 58 million in attendance and $3.8 billion in revenue, with an adjusted EBITDA of $1.5 billion and a 40% margin [12][13] - The company plans to generate free cash flow for reinvestment and debt reduction [11] Attendance Growth Strategies - The company aims to regain 10 million guests lost during the pandemic, focusing on improving market penetration in underperforming parks [44][45] - Strategies include enhancing guest satisfaction, leveraging marketing and CRM, and introducing a regional pass model to increase attendance [58][60] In-Park Revenue Growth - Six Flags is focused on improving food and beverage operations, which have seen a steady 7% CAGR growth in revenue [62][63] - The company plans to enhance guest experience through renovations and new offerings, including adult beverages and themed food items [64][66] - The introduction of premium products, such as cabanas, is expected to drive high-margin revenue [71] Cost Management and Operational Efficiency - The company is committed to optimizing its cost structure to achieve a 40% margin, focusing on operational efficiencies and revenue optimization [39] - Portfolio optimization efforts are underway, with a focus on high-growth parks while evaluating the potential sale of underperforming assets [37][88] Guest Experience and Satisfaction - Six Flags emphasizes the importance of guest satisfaction in driving attendance, with a focus on providing a high-quality experience [50][51] - The company is investing in new attractions and improving existing facilities to enhance the overall park experience [90][91] Risk Management - The company has strategies in place to manage potential recessionary challenges, including adjusting capital expenditures and operational expenses [28][29] - Diversification across parks mitigates risk, as no single region contributes more than 30% of adjusted EBITDA [32] Conclusion - Six Flags is positioned for growth through strategic initiatives aimed at increasing attendance, enhancing guest experiences, and optimizing revenue streams, all while managing costs and reducing leverage [39][72]