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Investor releaseQuarter not tagged2026-08-25Six Flags to Relocate Corporate Headquarters to Arlington, Texas, Strengthening North American Operations
Business Wire
Six Flags to Relocate Corporate Headquarters to Arlington, Texas, Strengthening North American Operations
Streamlining corporate functions will enhance speed of execution and strategic focus, and bring leadership closer to many parks CHARLOTTE, N.C., August 25, 2026--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: FUN) ("Six Flags" or the "Company"), North America’s largest regional amusement park operator, today announced plans to move its corporate headquarters in 2027 from Charlotte, North Carolina to its current offices in Arlington, Texas. The Arlington headquarters will serve as the primary hub for the Company’s corporate leadership and shared business functions. Choctaw Stadium has served as a corporate office since 2020 and is currently home to a portion of the Company’s corporate workforce. The relocation reflects the Company’s continued evolution and strengthens its ability to support a network of 34 parks and nine resorts across North America. Located at the center of the Dallas-Fort Worth region, Arlington brings leadership closer to the Company’s five Texas properties. The transition is expected to be completed by March 2027. "The decision to return the Company’s headquarters to Arlington is a continuation of our efforts to evolve the organization and enhance operational efficiency," said Six Flags President and CEO John Reilly. "After an extensive review, we determined that concentrating our personnel, processes, and decision-making in our Arlington office, where a portion of Six Flags corporate employees are located, is the best path forward for the Company. Bringing our corporate team together in the office will enhance collaboration across functions, strengthen our culture, and improve coordination among our new executive leaders as we further align our organization around our key strategic priorities and long-term vision." Reilly continued, "Arlington is a vibrant entertainment district where the Six Flags story began more than six decades ago with the opening of Six Flags Over Texas. The city sits at the heart of our five Texas parks and provides our leadership team with direct access to park operations and a regular on-the-ground presence. We look forward to building on the strong capabilities we already have in place there, and capitalizing on the vast talent pool in the Dallas-Fort Worth area as we advance our strategic growth plans. We are grateful to the City of Arlington and local leaders for their partnership and support, an…Read full documentShow less
Streamlining corporate functions will enhance speed of execution and strategic focus, and bring leadership closer to many parks CHARLOTTE, N.C., August 25, 2026--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: FUN) ("Six Flags" or the "Company"), North America’s largest regional amusement park operator, today announced plans to move its corporate headquarters in 2027 from Charlotte, North Carolina to its current offices in Arlington, Texas. The Arlington headquarters will serve as the primary hub for the Company’s corporate leadership and shared business functions. Choctaw Stadium has served as a corporate office since 2020 and is currently home to a portion of the Company’s corporate workforce. The relocation reflects the Company’s continued evolution and strengthens its ability to support a network of 34 parks and nine resorts across North America. Located at the center of the Dallas-Fort Worth region, Arlington brings leadership closer to the Company’s five Texas properties. The transition is expected to be completed by March 2027. "The decision to return the Company’s headquarters to Arlington is a continuation of our efforts to evolve the organization and enhance operational efficiency," said Six Flags President and CEO John Reilly. "After an extensive review, we determined that concentrating our personnel, processes, and decision-making in our Arlington office, where a portion of Six Flags corporate employees are located, is the best path forward for the Company. Bringing our corporate team together in the office will enhance collaboration across functions, strengthen our culture, and improve coordination among our new executive leaders as we further align our organization around our key strategic priorities and long-term vision." Reilly continued, "Arlington is a vibrant entertainment district where the Six Flags story began more than six decades ago with the opening of Six Flags Over Texas. The city sits at the heart of our five Texas parks and provides our leadership team with direct access to park operations and a regular on-the-ground presence. We look forward to building on the strong capabilities we already have in place there, and capitalizing on the vast talent pool in the Dallas-Fort Worth area as we advance our strategic growth plans. We are grateful to the City of Arlington and local leaders for their partnership and support, and we are committed to contributing to the community’s continued growth and success." Earlier this summer, Six Flags Over Texas celebrated the opening of Tormenta: Rampaging Run, the world's first giga dive coaster and a record-breaking new attraction that changed the city’s skyline and further reinforces Arlington's position as a premier entertainment destination. The debut brought together local officials, community partners, tourism leaders, and park guests in recognition of the attraction's economic and cultural significance to the region. The strong support and engagement surrounding Tormenta's opening reflected the connection between Six Flags and the Arlington community as the Company continues to invest in experiences that drive visitation, tourism, and long-term growth. "Bringing our corporate team together in Arlington helps us run a leaner, more responsive organization. Our job at the corporate level is to support our parks and park leaders and enable their success. This move is about making sure we're best set up to serve them well," Reilly said. "That kind of alignment matters as we execute our long-term strategy — it's about how effectively we work, not just where we sit." Six Flags will continue to be a major employer and contributor to the regional economy of the Charlotte metro area through its investments in Carowinds and Carolina Harbor. This includes Carowinds’ record-breaking new attraction, Rip Roarin’ Falls, which is on track to open in 2027. In addition, the Company will continue to have an office in Sandusky, Ohio. About Six Flags Entertainment Corporation Six Flags Entertainment Corporation (NYSE: FUN) is North America’s largest regional amusement-resort enterprise. The Company operates a premier portfolio of 20 amusement parks, 14 water parks, and nine resort properties across 13 U.S. states, Canada, and Mexico, as well as an amusement park in Saudi Arabia. Focused on its purpose of creating FUN, thrills, and a lifetime of memories, Six Flags provides immersive entertainment to millions of guests every year with world-class coasters, themed rides, and thrilling water parks powered by beloved intellectual property such as Looney Tunes®, DC Comics®, and PEANUTS®. Forward-Looking Statements Some of the statements contained in this news release 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," "believe," "create," "expect," "future," "guidance," "intend," "plan," "potential," "seek," "synergies," "target," "will," "would," similar expressions, and variations or negatives of these words identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These forward-looking statements may involve current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct, that our growth and operational strategies will achieve the target results. Important risks and uncertainties that may cause such a difference and could adversely affect attendance at our parks, our future financial performance, and/or our growth strategies, and could cause actual results to differ materially from our expectations or otherwise to fluctuate or decrease, include, but are not limited to: failure to realize the expected amount and timing of benefits related to the sale of parks and undeveloped land; adverse weather conditions; general economic, political and market conditions, including global trade; the impacts of pandemics or other public health crises, including the effects of government responses on people and economies; competition for consumer leisure time and spending or other changes in consumer behavior or sentiment for discretionary spending; unanticipated construction delays or increases in construction or supply costs; changes in capital investment plans and projects; anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the Company’s operations; the impact of any potential shareholder activism; failure to attract, motivate and retain qualified domestic and international employees and key personnel; legislative, regulatory and economic developments and changes in laws, regulations, and policies affecting the Company; acts of terrorism or outbreak or escalation of war, hostilities, civil unrest, and other political or security disturbances; and other risks and uncertainties we discuss under the heading "Risk Factors" within our Annual Report on Form 10-K and in the other filings we make from time to time with the Securities and Exchange Commission. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this document and are based on information currently and reasonably known to us. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after publication of this news release. This news release and prior releases are available under the News tab at https://investors.sixflags.com Media Kit available here: Six Flags Arlington Relocation. Please credit "Courtesy of Six Flags" when assets are in use. View source version on businesswire.com: https://www.businesswire.com/news/home/20260825972789/en/ Contacts Investor Contact: [email protected] https://investors.sixflags.com Media Contact: Kristin Fitzgerald, [email protected]
Investor releaseQuarter not tagged2026-08-25Six Flags Announces Corporate Headquarters Relocation to Arlington, Texas
PR Newswire
Six Flags Announces Corporate Headquarters Relocation to Arlington, Texas
Strategic move positions company at the center of its North American operations while building on a legacy that began in Arlington CHARLOTTE, N.C., Aug. 25, 2026 /PRNewswire/ -- Six Flags Entertainment Corporation, North America's largest regional amusement-resort operator, today announced plans to relocate its corporate headquarters from Charlotte, N.C., to its current offices in Arlington, Texas in 2027. The Arlington headquarters will serve as the primary hub for the company's corporate leadership and shared business functions. Choctaw Stadium has served as a corporate office since 2020 and is currently home to a portion of the company's corporate workforce. The relocation is expected to be completed by March 2027. Six Flags' return to the heart of the Dallas-Fort Worth metroplex reflects its continued evolution, and positions the company in a central location to more efficiently support its network of 34 amusement and water parks and nine resorts across North America. Arlington's proximity to the company's five Texas parks brings leadership closer to many of its operations, while the city's robust transportation access, dynamic business environment and location within one of the nation's premier entertainment and tourism districts makes it an ideal home for the company's headquarters. "Arlington is an outstanding location for our headquarters and supports our long-term vision for growth," said John Reilly, president and CEO of Six Flags Entertainment Corporation. "Its central location and business-friendly environment make it a strong base for our company. Bringing our corporate teams together in the office will improve collaboration, strengthen our culture, enhance support for our parks and resorts, and help us continue delivering exceptional experiences for guests across North America. We are grateful to the City of Arlington and local leaders for their partnership and support, and we are committed to contributing to the community's growth and success." Arlington also holds a special place in the company's history as the home of Six Flags Over Texas, which opened in 1961. While the relocation decision is grounded in strategic business considerations, it also reconnects the company with the community where the Six Flags legacy began more than six decades ago. "Arlington is a vibrant entertainment district where the Six Flags story began. With our office…Read full documentShow less
Strategic move positions company at the center of its North American operations while building on a legacy that began in Arlington CHARLOTTE, N.C., Aug. 25, 2026 /PRNewswire/ -- Six Flags Entertainment Corporation, North America's largest regional amusement-resort operator, today announced plans to relocate its corporate headquarters from Charlotte, N.C., to its current offices in Arlington, Texas in 2027. The Arlington headquarters will serve as the primary hub for the company's corporate leadership and shared business functions. Choctaw Stadium has served as a corporate office since 2020 and is currently home to a portion of the company's corporate workforce. The relocation is expected to be completed by March 2027. Six Flags' return to the heart of the Dallas-Fort Worth metroplex reflects its continued evolution, and positions the company in a central location to more efficiently support its network of 34 amusement and water parks and nine resorts across North America. Arlington's proximity to the company's five Texas parks brings leadership closer to many of its operations, while the city's robust transportation access, dynamic business environment and location within one of the nation's premier entertainment and tourism districts makes it an ideal home for the company's headquarters. "Arlington is an outstanding location for our headquarters and supports our long-term vision for growth," said John Reilly, president and CEO of Six Flags Entertainment Corporation. "Its central location and business-friendly environment make it a strong base for our company. Bringing our corporate teams together in the office will improve collaboration, strengthen our culture, enhance support for our parks and resorts, and help us continue delivering exceptional experiences for guests across North America. We are grateful to the City of Arlington and local leaders for their partnership and support, and we are committed to contributing to the community's growth and success." Arlington also holds a special place in the company's history as the home of Six Flags Over Texas, which opened in 1961. While the relocation decision is grounded in strategic business considerations, it also reconnects the company with the community where the Six Flags legacy began more than six decades ago. "Arlington is a vibrant entertainment district where the Six Flags story began. With our office just next door to Six Flags Over Texas, one of our premier parks, we enable our leadership to have a meaningful on-the-ground presence at the park and greater connectivity to all five of our Texas properties," Reilly said. Earlier this summer, Six Flags Over Texas celebrated the opening of Tormenta: Rampaging Run, the world's first giga dive coaster and a record-breaking new attraction that changed the city's skyline and further reinforces Arlington's position as a premier entertainment destination. The debut brought together local officials, community partners, tourism leaders and park guests in recognition of the attraction's economic and cultural significance to the region. The strong support and engagement surrounding Tormenta's opening reflects the connection between Six Flags and the Arlington community as the company continues to invest in experiences that drive visitation, tourism, and growth. Six Flags remains committed to the communities it serves across North America. In the Charlotte region, the company will continue investing in Carowinds and Carolina Harbor, including the park's highly anticipated new attraction, Rip Roarin' Falls, scheduled to open in 2027. The company has several other major projects underway across its park footprint for the 2027 season which comprise one of its most ambitious capital attractions lineups in its history. These include: Bakunawa, the world's tallest and fastest spinning coaster, opening at Six Flags Great Adventure Werewolf Gorge, the world's longest family launch coaster, debuting at Six Flags Fiesta Texas Camp Timber Trail, an expansive family adventure area anchored by Sky Hawk, the Midwest's longest, tallest and fastest suspended family coaster, coming to Six Flags Great America Coral Craze and Kelp Kraze, innovative new family raft slides featuring ride systems opening at Knott's Soak City "We are deeply grateful to our Charlotte-based and shared services team members whose dedication, passion and expertise have helped shape our company," Reilly added. "Their contributions have been invaluable, and we are committed to supporting them throughout this transition with respect, transparency and care. Many team members will have the opportunity to relocate to Arlington and continue helping drive our success into the future." The company will continue to have an office in Sandusky, Ohio. About Six Flags Entertainment Corporation Six Flags Entertainment Corporation (NYSE: FUN) is North America's largest regional amusement-resort enterprise. The Company operates a premier portfolio of 20 amusement parks, 14 water parks, and nine resort properties across 13 U.S. states, Canada, and Mexico, as well as an amusement park in Saudi Arabia. Focused on its purpose of creating FUN, thrills, and a lifetime of memories, Six Flags provides immersive entertainment to millions of guests every year with world-class coasters, themed rides, and thrilling water parks powered by beloved intellectual property such as Looney Tunes®, DC Comics®, and PEANUTS®. Forward-Looking Statements Some of the statements contained in this news release 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," "believe," "create," "expect," "future," "guidance," "intend," "plan," "potential," "seek," "synergies," "target," "will," "would," similar expressions, and variations or negatives of these words identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These forward-looking statements may involve current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct, that our growth and operational strategies will achieve the target results. Important risks and uncertainties that may cause such a difference and could adversely affect attendance at our parks, our future financial performance, and/or our growth strategies, and could cause actual results to differ materially from our expectations or otherwise to fluctuate or decrease, include, but are not limited to: failure to realize the expected amount and timing of benefits related to the sale of parks and undeveloped land; adverse weather conditions; general economic, political and market conditions, including global trade; the impacts of pandemics or other public health crises, including the effects of government responses on people and economies; competition for consumer leisure time and spending or other changes in consumer behavior or sentiment for discretionary spending; unanticipated construction delays or increases in construction or supply costs; changes in capital investment plans and projects; anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the Company's operations; the impact of any potential shareholder activism; failure to attract, motivate and retain qualified domestic and international employees and key personnel; legislative, regulatory and economic developments and changes in laws, regulations, and policies affecting the Company; acts of terrorism or outbreak or escalation of war, hostilities, civil unrest, and other political or security disturbances; and other risks and uncertainties we discuss under the heading "Risk Factors" within our Annual Report on Form 10-K and in the other filings we make from time to time with the Securities and Exchange Commission. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this document and are based on information currently and reasonably known to us. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after publication of this news release. Editor's Notes: Media Kit available here: Six Flags Arlington Relocation. Please credit "Courtesy of Six Flags" when assets are in use. View original content to download multimedia:https://www.prnewswire.com/news-releases/six-flags-announces-corporate-headquarters-relocation-to-arlington-texas-302858732.html
Investor releaseQuarter not tagged2026-08-08Six Flags Entertainment Q2 Earnings Call Highlights
MarketBeat
Six Flags Entertainment Q2 Earnings Call Highlights
Interested in Six Flags Entertainment Corporation? Here are five stocks we like better. Second-quarter results improved: Same-park attendance rose 4%, revenue increased 2% to approximately $864 million, and adjusted EBITDA grew 7% to $249 million. The active season-pass base also expanded 6% ahead of the summer season. Growth is being driven by passholders and operating improvements: Management cited stronger local accountability, targeted marketing, better ride uptime and cost discipline, while expanding memberships and developing additional food, beverage and premium in-park revenue opportunities. Six Flags expects continued second-half EBITDA growth despite weather and calendar-related headwinds, supported by expanded operating days and Halloween and holiday events. The company plans $400 million–$425 million in capital spending over time while targeting net leverage of roughly four times EBITDA. Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring Six Flags Entertainment (NYSE:FUN) reported higher same-park attendance, revenue and adjusted EBITDA in the second quarter of 2026, as the amusement park operator cited growth in season-pass visitation, improved operating discipline and progress at previously underperforming parks. On a same-park basis, which reflects the parks operated throughout the full second quarter of 2026, attendance rose 4% despite 44 fewer operating days than a year earlier. Net revenue increased more than 2%, while adjusted EBITDA climbed 7%. The company’s active pass base expanded 6% entering the peak summer season. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling A New Leader at Six Flags: Is the Roller Coaster Over? Chief Executive Officer John Reilly said the company has made progress on strategic priorities established earlier in the year, including greater park-level accountability, more targeted marketing, ride-uptime improvements and disciplined capital allocation. “In the second quarter, stronger local leadership, clearer accountability, focused resources, and improved commercial execution produced higher adjusted EBITDA and better margins” at underperforming parks, Reilly said. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High MarketBeat Week in Review – 10/27 - 10/31 Chief Financial Officer Ash Walia said same-park net revenue increased 2% to approximately $864 million. Attendance increased…Read full documentShow less
Interested in Six Flags Entertainment Corporation? Here are five stocks we like better. Second-quarter results improved: Same-park attendance rose 4%, revenue increased 2% to approximately $864 million, and adjusted EBITDA grew 7% to $249 million. The active season-pass base also expanded 6% ahead of the summer season. Growth is being driven by passholders and operating improvements: Management cited stronger local accountability, targeted marketing, better ride uptime and cost discipline, while expanding memberships and developing additional food, beverage and premium in-park revenue opportunities. Six Flags expects continued second-half EBITDA growth despite weather and calendar-related headwinds, supported by expanded operating days and Halloween and holiday events. The company plans $400 million–$425 million in capital spending over time while targeting net leverage of roughly four times EBITDA. Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring Six Flags Entertainment (NYSE:FUN) reported higher same-park attendance, revenue and adjusted EBITDA in the second quarter of 2026, as the amusement park operator cited growth in season-pass visitation, improved operating discipline and progress at previously underperforming parks. On a same-park basis, which reflects the parks operated throughout the full second quarter of 2026, attendance rose 4% despite 44 fewer operating days than a year earlier. Net revenue increased more than 2%, while adjusted EBITDA climbed 7%. The company’s active pass base expanded 6% entering the peak summer season. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling A New Leader at Six Flags: Is the Roller Coaster Over? Chief Executive Officer John Reilly said the company has made progress on strategic priorities established earlier in the year, including greater park-level accountability, more targeted marketing, ride-uptime improvements and disciplined capital allocation. “In the second quarter, stronger local leadership, clearer accountability, focused resources, and improved commercial execution produced higher adjusted EBITDA and better margins” at underperforming parks, Reilly said. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High MarketBeat Week in Review – 10/27 - 10/31 Chief Financial Officer Ash Walia said same-park net revenue increased 2% to approximately $864 million. Attendance increased by roughly 449,000 visits, or 4%, driven primarily by season-pass visitation and commercial initiatives. Per-capita spending declined by less than 1%, which Walia attributed to a greater share of visits from season-pass and membership holders rather than weaker pricing. He said like-for-like pricing increased across admissions products and guest spending remained healthy in food and beverage, extra-charge attractions and other in-park experiences. → No Hangover: Revisiting Microsoft One Week After Earnings Same-park adjusted EBITDA increased approximately 7% to $249 million. Walia said the company maintained cost discipline despite a largely fixed or semi-fixed expense structure that includes labor, maintenance, utilities, insurance and overhead. Excluding the seven parks sold in its portfolio transaction and one park closed after the 2025 season, Six Flags said first-half adjusted EBITDA rose about 63%, or $56 million. Trailing 12-month adjusted EBITDA totaled $801 million, compared with $745 million for full-year 2025. The company ended the quarter with approximately $135 million in cash, total liquidity of about $837 million and net debt of approximately $4.9 billion. Walia said deferred revenue increased on a current-operating-portfolio basis, reflecting membership growth and advance sales. Reilly said season-pass sales increased during the quarter, membership participation expanded and demand for higher-tier products remained strong. Both single-day tickets and combined season-pass and membership products produced higher average prices, according to the company. Six Flags expanded its membership offering to six additional parks in June. Cross-park visitation also grew as guests used multi-park products to visit more locations. Reilly said passholders visit about four times per year on average, creating repeat opportunities for food, beverages, merchandise, parking, games and premium experiences. The company plans to launch its 2027 passes on Aug. 7 with a best-price guarantee, enhanced benefits and flexible dining-plan options. Reilly said early results at parks where new dining products were tested showed double-digit growth in attachment rates, though he described those returns as early. Management also highlighted potential to build in-park revenue through Fast Lane queue products, refreshed beverage concepts and improved Halloween-event upsells. Six Flags plans to add food-and-beverage events across its portfolio next year, pointing to Knott’s Berry Farm’s Boysenberry Festival as an internal example of an event that drives visitation, per-capita spending and pass renewals. Six Flags expects adjusted EBITDA to grow year over year in the second half of 2026, including both the third and fourth quarters, although Reilly said the opportunity for growth is greater in the fourth quarter. The company cited two early third-quarter headwinds: the July 4 holiday falling on a Saturday rather than a Friday in the prior year, and wildfire-related air-quality disruptions that affected parks from the Great Lakes region through Virginia and caused some closures. Still, Reilly said the company recorded its highest summer attendance day in five years on a same-park combined basis on a July day unaffected by those disruptions. Six Flags plans 2,133 operating days in the third quarter, 66 more than a year earlier, primarily due to the timing of Labor Day and an additional week of summer operations at several Northern and Midwestern parks. Management said it expects modest growth in cash costs during the balance of the year. Fourth-quarter demand drivers are expected to include the company’s Halloween programming, which management said will feature 448 Halloween-themed experiences, 107 haunted mazes and 11 new horror-franchise attractions. Six Flags also plans to restore Holiday in the Park at Six Flags Over Georgia and Six Flags Great Adventure, where the event was not offered in 2025. The company is investing in new and refreshed attractions, including Tormenta Rampaging Run at Six Flags Over Texas, Phantom Theater at Kings Island, Looney Tunes Land at Magic Mountain and Shoreline Pier at Six Flags Great Adventure. Its 2027 attraction pipeline includes projects at Great Adventure, Fiesta Texas, Carowinds and Six Flags Over Georgia, as well as Camp Timber Trail at Six Flags Great America in Chicago. Reilly said Six Flags expects capital expenditures to be in a range of $400 million to $425 million over time and remains focused on reducing net leverage toward a long-term target of about four times EBITDA. He said the company has liquidity to manage upcoming Georgia-related payments. The company does not expect additional changes to its park portfolio this year. Reilly said management will continue to evaluate opportunities to create shareholder value, but said there are no current plans for further divestitures. He reiterated that proceeds from asset sales would be used to repay debt. Six Flags has a signed purchase agreement for land at the former park site in Bowie, Maryland, though Reilly said a closing could occur in late 2027 or early 2028 as the buyer completes due diligence. The company is also evaluating bids and interest for excess land in Richmond, Virginia. Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services. Founded in 1961 by Angus G. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Six Flags Entertainment Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.
Investor releaseQuarter not tagged2026-08-06Six Flags Entertainment Corporation (FUN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Zacks
Six Flags Entertainment Corporation (FUN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Six Flags Entertainment Corporation (FUN) reported $864.92 million in revenue for the quarter ended June 2026, representing a year-over-year decline of 7%. EPS of $0.14 for the same period compares to $0.26 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $954.89 million, representing a surprise of -9.42%. The company delivered an EPS surprise of -51.72%, with the consensus EPS estimate being $0.29. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Six Flags Entertainment Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Attendance: 13.13 million versus the two-analyst average estimate of 14.58 million. Net revenues- Admissions: $441.26 million compared to the $499.57 million average estimate based on three analysts. The reported number represents a change of -9.1% year over year. Net revenues- Accommodations, extra-charge products and other: $120.47 million versus $126.48 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change. Net revenues- Food, merchandise and games: $303.19 million compared to the $346.38 million average estimate based on three analysts. The reported number represents a change of -6.2% year over year. View all Key Company Metrics for Six Flags Entertainment Corporation here>>> Shares of Six Flags Entertainment Corporation have returned +0.5% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-08-06Six Flags Entertainment Corp (FUN) (Q2 2026) Earnings Call Highlights: Attendance Surges 4% and ...
GuruFocus.com
Six Flags Entertainment Corp (FUN) (Q2 2026) Earnings Call Highlights: Attendance Surges 4% and ...
This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Same-park attendance increased 4% despite 44 fewer operating days in Q2 2026. Adjusted EBITDA grew 7% on a same-park basis, with first-half adjusted EBITDA up approximately 63% or $56 million. Active pass base grew 6% entering the peak summer season, with higher average prices for both single-day and season pass products. Ride uptime improved during the quarter, and the company delivered its highest summer attendance day in five years on unaffected July days. The company expects adjusted EBITDA to continue growing in the second half of 2026, supported by an expanded pass base, new membership offerings, and an extra week of summer operations due to Labor Day timing. Per capita spending declined modestly by less than 1% due to a mix shift toward season pass and membership visits. July performance was negatively impacted by an unfavorable July 4 calendar shift and wildfire-related air quality disruptions, including some park closures. The company faces higher repair and maintenance expenses at certain parks as it works to reduce ride downtime. Expense per operating day may increase mechanically due to the fixed and semi-fixed cost structure when operating days are reduced. The sale of seven parks and closure of one park reduced reported revenue by approximately $86 million in Q2 2025, creating a challenging comparison base. Warning! GuruFocus has detected 8 Warning Signs with FUN. Is FUN fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more color on how July trended, considering the impact of weather and the shift in the 4th of July holiday? How should we think about the start of the third quarter?A: John Riley (President and CEO): While we aren't giving specific guidance, we expect to grow adjusted EBITDA in the balance of the year. July faced two headwinds: the July 4th holiday falling on a Saturday (versus Friday last year) and wildfire-related air quality disruptions that caused some park closures. However, on unaffected days, we saw very healthy performance, including our highest summer attendance day in five years. We have positive indicators for Q3 and Q4, including a 6% growth in our pass base, an extra week of summer operations due to Labor Day timing…Read full documentShow less
This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Same-park attendance increased 4% despite 44 fewer operating days in Q2 2026. Adjusted EBITDA grew 7% on a same-park basis, with first-half adjusted EBITDA up approximately 63% or $56 million. Active pass base grew 6% entering the peak summer season, with higher average prices for both single-day and season pass products. Ride uptime improved during the quarter, and the company delivered its highest summer attendance day in five years on unaffected July days. The company expects adjusted EBITDA to continue growing in the second half of 2026, supported by an expanded pass base, new membership offerings, and an extra week of summer operations due to Labor Day timing. Per capita spending declined modestly by less than 1% due to a mix shift toward season pass and membership visits. July performance was negatively impacted by an unfavorable July 4 calendar shift and wildfire-related air quality disruptions, including some park closures. The company faces higher repair and maintenance expenses at certain parks as it works to reduce ride downtime. Expense per operating day may increase mechanically due to the fixed and semi-fixed cost structure when operating days are reduced. The sale of seven parks and closure of one park reduced reported revenue by approximately $86 million in Q2 2025, creating a challenging comparison base. Warning! GuruFocus has detected 8 Warning Signs with FUN. Is FUN fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more color on how July trended, considering the impact of weather and the shift in the 4th of July holiday? How should we think about the start of the third quarter?A: John Riley (President and CEO): While we aren't giving specific guidance, we expect to grow adjusted EBITDA in the balance of the year. July faced two headwinds: the July 4th holiday falling on a Saturday (versus Friday last year) and wildfire-related air quality disruptions that caused some park closures. However, on unaffected days, we saw very healthy performance, including our highest summer attendance day in five years. We have positive indicators for Q3 and Q4, including a 6% growth in our pass base, an extra week of summer operations due to Labor Day timing, and strong momentum heading into Halloween. The growth opportunity is bigger in Q4, driven by Halloween and Holiday in the Park events. Q: How should we think about the opportunity to deleverage moving forward, especially with the Georgia payment coming due next year?A: John Riley (President and CEO): Our goal remains to get to 4.0x net leverage debt to EBITDA, and we have confidence we can get there. We have the liquidity to manage the Georgia payments when they come due. We remain judicious with capital expenses, targeting a range of $400 to $425 million, and feel good about reducing net leverage over time. Q: How much of a hole do you need to dig yourself out of coming out of July to grow EBITDA in the third quarter?A: John Riley (President and CEO): We expect to grow in both Q3 and Q4. The growth in Q3 will be supported by our expanded pass and membership base, a favorable calendar with Labor Day falling later, and additional operating days. However, the opportunity for growth is bigger in Q4, and we expect more growth towards the end of the half in Q4. Q: Can you share more on the margin and cost side? How do you think about the ability to increase cost savings and margin power from here?A: John Riley (President and CEO): We feel good about the flow-through we've generated. In Q2, we picked up about 120 basis points in margin on a same-park basis. We are in the early stages and believe we have considerable growth potential, with a goal of reaching mid-30% margins over time. We are encouraged by the new team members, including our new CFO with supply chain experience and our new COO with operational efficiency expertise. We expect to accelerate margin expansion over time. Q: Could you share more about the per cap spending, which declined modestly? Is this a specific Q2 thing or should we expect this to continue?A: John Riley (President and CEO): The decline is an intentional strategy to grow our pass and membership base. Both pass/membership and single-day ticket categories sold at higher average prices year-over-year on a same-park basis. The per cap decline is a mix effect from more pass holder visits, which is a good trade as these guests pay more upfront, visit more often, and generate incremental in-park spending. We are building total revenue per customer and lifetime value. Going forward, membership impacts and initiatives on in-park spending, including queuing programs and Halloween per cap expansion, will help. Q: Can you talk about efforts to connect ancillary sales to pass sales on a pre-sale basis, similar to cruise lines?A: John Riley (President and CEO): This is a deliberate strategy. We've made changes to ancillary products, including Fast Lane, where we tested different approaches and now have an optimal way forward, particularly for 2027. We've also changed our dining programs, which are a huge satisfier for guests. We've introduced new flexible dining plan options, and while we raised prices on all-season plans, we've added affordable limited plans. Early returns show double-digit growth in attachment rates. Q: Are you moving closer to trading hard CapEx dollars (like coasters) for soft CapEx dollars (like live entertainment)?A: John Riley (President and CEO): Yes, events are a very efficient way to deploy capital. We have a great case study with the Boysenberry event at Knott's Berry Farm, which drives high per caps, high visitation, and high pass renewal. We will be launching more food and beverage events across the portfolio next year, as they are a very efficient way to deploy capital. Q: Can you give us your thoughts on the consumer and the ability to push price? What's driving in-park spend?A: John Riley (President and CEO): We find consumers to be responsive when we put out strong values and improve the in-park experience. We saw attendance increase 4% and the pass base increase 6%. When we have well-researched products and effective marketing, we see the potential to drive visitation and spending. We're launching new F&B concepts and have initiatives on queuing programs that are getting good early returns, allowing us to move in-park spending per capita. Q: How is the multi-park pass going? What is the economic benefit and how should we think about the maturation period?A: John Riley (President and CEO): We are in the early stages, but the results are encouraging. Since its introduction, pass sales have been on a much stronger trajectory, and we're seeing healthy cross-park visitation within regions. For example, in Los Angeles, guests are using one pass to visit both Knott's Berry Farm and Magic Mountain. We're in the early stages, but everything we see indicates strong appeal to our guests, and we'll continue to promote cross-park visitation through CRM communications. Q: What is the same-park base for attendance we should be using for Q3 and Q4 going forward?A: John Riley (President and CEO): From the table in our Q1 earnings release, the same-park attendance base is $2.9 million for Q3 and $0.6 million for Q4. This should help with your modeling. Q: How should we think about cash costs for the balance of the year?A: John Riley (President and CEO): You could expect modest growth in cash costs over the balance of the year. Q: Can you comment on why in-park per cap spend shouldn't grow nicely year For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Investor releaseQuarter not tagged2026-08-06Six Flags Entertainment Corporation Reports 2026 Second Quarter Results
Business Wire
Six Flags Entertainment Corporation Reports 2026 Second Quarter Results
Strong second quarter results with higher attendance at the Company's current operating portfolio Active pass base up at the Company's current operating portfolio reflecting strong season pass sales and expanded membership offerings, providing greater visibility into peak season demand More focused park portfolio consolidates management efforts and resources to maximize returns at the high-potential parks CHARLOTTE, N.C., August 06, 2026--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: FUN) (the "Company" or "Six Flags") the largest regional amusement park operator in North America, today announced results for its 2026 second quarter ended June 28, 2026. Second Quarter 2026 Results Please note: 2025 second quarter results include quarterly financial and other data related to eight parks Six Flags no longer operated in the 2026 second quarter including: (1) seven parks Six Flags sold to EPR Properties prior to the start of 2026 park operations, and (2) a combined amusement/water park located in Bowie, Maryland, where park operations were discontinued following the end of its 2025 operating season. Therefore, results are presented both on a Reported Basis and on a Same-Park Basis, or excluding the results of the parks sold and closed. As compared with the second quarter of 2025 on a Reported Basis: Net revenues totaled $865 million, a decrease of $65 million, or 7.0%, from $930 million. Net loss attributable to Six Flags Entertainment Corporation was $203 million, compared with a net loss of $100 million. Adjusted EBITDA(1) was $243 million in both periods. Attendance totaled 13.1 million visits, a decrease of 7%, from 14.2 million visits. Per capita spending(2) was $62.89, an increase of 1%, from $62.46. Operating days totaled 1,615, a decrease of 378 days, from 1,993. As compared with the second quarter of 2025 on a Same-Park Basis: Net revenues totaled $864 million, an increase of $20 million, or 2.4%, from $844 million. Net loss attributable to Six Flags Entertainment Corporation was $194 million, compared with a net loss of $87 million. Adjusted EBITDA was $249 million, an increase of $16 million, or 7%, from $233 million. Attendance totaled 13.1 million visits, an increase of 4%, from 12.7 million visits. Per capita spending was $62.88, a decrease of 1%, from $63.38. Operating days totaled 1,615, a decrease of 44 days, from 1,659. CEO Comment…Read full documentShow less
Strong second quarter results with higher attendance at the Company's current operating portfolio Active pass base up at the Company's current operating portfolio reflecting strong season pass sales and expanded membership offerings, providing greater visibility into peak season demand More focused park portfolio consolidates management efforts and resources to maximize returns at the high-potential parks CHARLOTTE, N.C., August 06, 2026--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: FUN) (the "Company" or "Six Flags") the largest regional amusement park operator in North America, today announced results for its 2026 second quarter ended June 28, 2026. Second Quarter 2026 Results Please note: 2025 second quarter results include quarterly financial and other data related to eight parks Six Flags no longer operated in the 2026 second quarter including: (1) seven parks Six Flags sold to EPR Properties prior to the start of 2026 park operations, and (2) a combined amusement/water park located in Bowie, Maryland, where park operations were discontinued following the end of its 2025 operating season. Therefore, results are presented both on a Reported Basis and on a Same-Park Basis, or excluding the results of the parks sold and closed. As compared with the second quarter of 2025 on a Reported Basis: Net revenues totaled $865 million, a decrease of $65 million, or 7.0%, from $930 million. Net loss attributable to Six Flags Entertainment Corporation was $203 million, compared with a net loss of $100 million. Adjusted EBITDA(1) was $243 million in both periods. Attendance totaled 13.1 million visits, a decrease of 7%, from 14.2 million visits. Per capita spending(2) was $62.89, an increase of 1%, from $62.46. Operating days totaled 1,615, a decrease of 378 days, from 1,993. As compared with the second quarter of 2025 on a Same-Park Basis: Net revenues totaled $864 million, an increase of $20 million, or 2.4%, from $844 million. Net loss attributable to Six Flags Entertainment Corporation was $194 million, compared with a net loss of $87 million. Adjusted EBITDA was $249 million, an increase of $16 million, or 7%, from $233 million. Attendance totaled 13.1 million visits, an increase of 4%, from 12.7 million visits. Per capita spending was $62.88, a decrease of 1%, from $63.38. Operating days totaled 1,615, a decrease of 44 days, from 1,659. CEO Commentary "Our second quarter and first-half results reflect meaningful progress advancing the strategic priorities we established at the beginning of the year to strengthen the business," said John Reilly, Six Flags President and CEO. "Our more focused operating portfolio generated higher attendance, net revenues and Adjusted EBITDA, demonstrating that our portfolio actions and performance improvement initiatives are delivering improved financial results. Additionally, season pass and membership sales increased and our active pass base expanded during the second quarter, reinforcing our conviction that we are taking the right steps to build a stronger, more predictable business as we enter the most important part of our operating season. "Our commercial strategy - designed to build a larger, more engaged guest community and create greater long-term value from each guest relationship, demonstrated its effectiveness by delivering tangible results in the second quarter," Reilly continued. "Guests continue to respond favorably to our flexible, benefit-rich season pass and membership offerings, with season-to-date pass sales increasing 7% and our active pass base growing 6% on a Same-Park Basis. We are also seeing encouraging demand for higher-tier passes and our expanded membership offerings, reflecting the value guests place on greater access and flexibility. Together, these initiatives strengthen recurring revenue, enhance visibility into future demand, and support stronger attendance and financial performance over time. "We are strengthening park-level accountability, sharpening commercial execution, and maintaining a disciplined approach to capital allocation," Reilly added. "With the divestiture of seven non-core parks complete, we are focusing our resources on parks with the highest returns. These actions are building a stronger operating company with greater long-term earnings potential. While important work remains, the second quarter results and leading indicators give us increasing confidence in the operating priorities we have established." Summarized Second Quarter 2026 Results Unless otherwise noted, the discussion below compares the performance of the Company's current operating portfolio, which excludes the results of the parks sold and closed. Same-Park Basis comparisons are presented as supplemental information. Management believes Same-Park Basis information is meaningful to help evaluate operating performance related only to the portfolio of parks that were owned and operated by Six Flags during the comparable periods and uses it for this purpose. Net revenues. On a Reported Basis, the Company's parks generated net revenues of $865 million, a decrease of $65 million, or 7%, compared with $930 million in the second quarter of 2025. On a Same-Park Basis, the Company’s parks generated net revenues of $864 million, an increase of $20 million, or 2.4%, compared with $844 million in the second quarter of 2025. The increase in Same-Park Basis net revenues was driven primarily by 4% higher attendance, including a 10% increase in season-pass visitation, and continued strength in food and extra-charge spending per visit. These benefits were partially offset by lower admissions per capita spending(2), an earlier spring break season falling in this year's first quarter versus last year's second quarter, and approximately 3% fewer operating days. Attendance and operating days. Attendance on a Reported Basis decreased 1.1 million visits, or 7%, compared with the second quarter of 2025. Attendance on a Same-Park Basis increased 449,000 visits, or 4%, compared with the second quarter of 2025. Attendance growth on a Same-Park Basis was supported primarily by increased season pass visitation, reflecting continued strength in the Company's season pass and membership programs across the portfolio. Operating days for the current operating portfolio totaled 1,615, compared with 1,659 operating days for the same parks in the prior-year period. Per capita spending. Per capita spending on a Reported Basis was $62.89, an increase of $0.43, or 1%, compared with $62.46 in the prior-year period. Per capita spending on a Same-Park Basis was $62.88, a decline of $0.50, or 1%, compared with $63.38 in the prior-year period. The modest decline in per capita spending on a Same-Park Basis primarily reflected lower admissions per capita spending associated with expanded season pass benefits and increased cross-park visitation, partially offset by continued strength in guest spending on food, extra-charge attractions and other in-park offerings. Paid admission pricing remained stable year over year, while guests continued to trade up to higher-tier season pass products that provide greater access and flexibility. Management believes its initiatives support higher attendance and increased long-term earnings potential despite modest pressure on admissions per capita spending. Operating costs and expenses. Operating costs and expenses remained well controlled despite higher attendance and guest activity during the quarter. On a Reported Basis, operating expenses decreased $61 million, and selling, general and administrative expense increased $1 million. On a Same-Park Basis, operating expenses increased by only $1 million compared with the prior-year period, as higher maintenance activity, as well as smaller increases in credit card fees, live entertainment costs and utility expenses, were largely offset by lower full-time wage expense and related benefits. Selling, general and administrative expense on a Same-Park Basis also remained well controlled, increasing only $3 million while continuing to support the Company's commercial initiatives and operating priorities. Selling, general and administrative expense on a Same-Park Basis increased due to full-time wages, which was primarily due to an increase in equity compensation and severance costs, and higher consulting and legal costs, both of which were offset by lower advertising costs. The combination of revenue growth and disciplined expense management resulted in stronger operating leverage, allowing a larger portion of incremental revenues to translate into higher earnings during the quarter. Adjusted EBITDA. The Company’s parks generated Adjusted EBITDA of $243 million in both periods on a Reported Basis. On a Same-Park Basis, the Company's parks generated Adjusted EBITDA of $249 million, an increase of $16 million, or 7%, compared with $233 million in the second quarter of 2025. The improvement demonstrates stronger performance from the current operating portfolio. See the attached table for a reconciliation of net loss to Adjusted EBITDA. Season Pass, Membership and Active Pass Base Progress During the second quarter, the Company continued to build momentum in its season pass and membership programs, supported by a more differentiated product architecture, expanded regional and all-park access available with certain products, improved marketing execution, and a more coordinated approach to guest acquisition and retention. The active pass base increased 6% compared with the same time last year on a Same-Park Basis. Management views the number of guests eligible to visit the parks as an important leading indicator of attendance and a source of greater visibility into demand during the balance of the season. Sales mix continued to shift toward higher-tier pass products, reflecting guest response to the added access and enhanced benefits available with those offerings. The mix improvement supports higher-value guest relationships without relying solely on lower headline pricing. Membership participation continued to expand during the quarter. Member counts beyond their initial 12-month term exceeded the prior-year level at a higher average price, and the Company expanded its membership model to six additional parks in June 2026. Membership provides guests with a lower upfront purchase commitment while building the Company’s recurring-revenue base and supporting continued growth in the active pass base. Marketing investment produced improved acquisition and conversion efficiency during the quarter, supporting growth in pass sales and the active pass base while improving the economic return on guest acquisition spending. The Company also introduced several major thrill rides, attractions and entertainment offerings during the quarter. These investments are designed to strengthen the guest proposition, support visitation and improve the return generated by the Company’s established park base. Balance Sheet and Liquidity Highlights The Company continued to strengthen its balance sheet during the first six months of 2026 through improved operating cash flow, disciplined capital spending, and the use of proceeds from previously announced portfolio transactions to reduce outstanding borrowings. The Company also reduced borrowings under its revolving credit facility and maintained substantial available capacity at quarter-end. Reducing leverage remains an essential financial priority. As of June 28, 2026, the Company reported the following: Total deferred revenue of $431 million. On a Reported Basis, total deferred revenue decreased $30 million. On a Same-Park Basis, total deferred revenue increased $8 million, or 2%, compared with the prior year, supported by growth in membership and advance sales. Cash and cash equivalents of $135 million. Total liquidity of $837 million, including $703 million available under the Company’s revolving credit facility. Net debt(3) totaled $4.9 billion, calculated as total debt of $5.0 billion (before debt issuance costs and acquisition fair value layers) less cash and cash equivalents of $135 million. Conference Call As previously announced, Six Flags Entertainment Corporation will host a conference call with analysts starting at 8 a.m. ET today, August 6, 2026, to discuss its recent financial results. Participants on the call will include Six Flags CEO John Reilly and CFO Ash Walia. Investors and all other interested parties can access a live, listen-only audio webcast of the call on the Six Flags Investors website at https://investors.sixflags.com under the tabs Investor Information / Events & Presentations. Those unable to listen to the live webcast can access a recorded version of the call on the Six Flags Investors website at https://investors.sixflags.com under Investor Information / Events and Presentations, shortly after the live call’s completion. A digital recording of the conference call will be available for replay by phone starting at approximately 1 p.m. ET on Thursday August 6, 2026, until 11:59 p.m. ET on Thursday August 13, 2026. To access the phone replay in North America please dial (800) 770-2030; from international locations please dial +1 (609) 800-9909, followed by Conference ID 3720518. About Six Flags Entertainment Corporation Six Flags Entertainment Corporation (NYSE: FUN) is North America’s largest regional amusement-resort operator, with 20 amusement parks, 14 water parks and nine resort properties across 13 states in the U.S., Canada, and Mexico. The Company also manages an amusement park in Saudi Arabia. Focused on its purpose of creating FUN, thrills and a lifetime of memories, Six Flags provides immersive entertainment to millions of guests every year with world-class coasters, themed rides, thrilling water parks, resorts and a portfolio of beloved intellectual property such as Looney Tunes®, DC Comics® and PEANUTS®. Footnotes: Forward-Looking Statements Some of the statements contained in this news release 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," "believe," "create," "expect," "future," "guidance," "intend," "plan," "potential," "seek," "synergies," "target," "will," "would," similar expressions, and variations or negatives of these words identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These forward-looking statements may involve current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct, that our growth and operational strategies will achieve the target results. Important risks and uncertainties that may cause such a difference and could adversely affect attendance at our parks, our future financial performance, and/or our growth strategies, and could cause actual results to differ materially from our expectations or otherwise to fluctuate or decrease, include, but are not limited to: failure to realize the expected amount and timing of benefits related to the sale of parks and undeveloped land; adverse weather conditions; general economic, political and market conditions, including global trade; the impacts of pandemics or other public health crises, including the effects of government responses on people and economies; competition for consumer leisure time and spending or other changes in consumer behavior or sentiment for discretionary spending; unanticipated construction delays or increases in construction or supply costs; changes in capital investment plans and projects; anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the Company’s operations; the impact of any potential shareholder activism; failure to attract, motivate and retain qualified domestic and international employees and key personnel; legislative, regulatory and economic developments and changes in laws, regulations, and policies affecting the Company; acts of terrorism or outbreak or escalation of war, hostilities, civil unrest, and other political or security disturbances; and other risks and uncertainties we discuss under the heading "Risk Factors" within our Annual Report on Form 10-K and in the other filings we make from time to time with the Securities and Exchange Commission. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this document and are based on information currently and reasonably known to us. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after publication of this news release. This news release and prior releases are available under the News tab at https://investors.sixflags.com (financial tables follow) View source version on businesswire.com: https://www.businesswire.com/news/home/20260806470344/en/ Contacts Investor Contact: Michael Russell, [email protected] https://investors.sixflags.com Media Contact: Kristin Fitzgerald, [email protected]
TranscriptFY2026 Q22026-08-06FY2026 Q2 earnings call transcript
Earnings source - 97 paragraphs
FY2026 Q2 earnings call transcript
Hello, and welcome to Six Flags Entertainment Corporation 2026 second quarter earnings call. Please note that this call is being recorded. After the speakers' prepared remarks, there will be a question and answer session. If you'd like to ask a question during that time, please press star and then one on your telephone keypad. Thank you. I would now like to turn the call over to the Six Flags management for opening remarks. Please go ahead.
Good morning, and welcome to Six Flags Entertainment Corporation's second quarter 2026 earnings conference call. I'm Michael Russell, Six Flags Head of Investor Relations. On the call today with me are John Reilly, President and Chief Executive Officer, and Ash Walia, Chief Financial Officer. Before we begin, I would like to remind everyone that certain statements made during this call may be forward-looking statements. These are subject to risks and uncertainties that could cause actual results to differ materially from those described. Please refer to our earnings release and SEC filings for a discussion of these risks. I'll turn the call over to John.
Thank you, Michael, and good morning, everyone. Thank you for joining us. In the second quarter, we made meaningful progress against the strategic priorities we established at the beginning of the year, improving our operating performance through the first half. Before reviewing those results, I want to clarify the basis of comparison we will use today. As defined in our earnings release, same-park basis refers to the parks we operated during the full second quarter of 2026. Unless otherwise noted, our year-over-year comparisons measure those parks against the same parks in the second quarter of 2025. We believe this provides the clearest view of the business we manage today. On that basis, attendance increased 4% despite 44 fewer operating days in the second quarter. Net revenues increased more than 2%, adjusted EBITDA increased 7%, and our active pass base grew 6% entering the peak summer season.
Looking beyond that quarter and excluding the seven parks sold in the portfolio transaction and the park we closed following the 2025 operating season, first half adjusted EBITDA increased approximately 63% or $56 million, and trailing 12-month adjusted EBITDA totaled $801 million, compared with $745 million for the full year 2025. We also completed a deep dive into the group we described on our third quarter 2025 call as the underperforming parks. That analysis confirmed meaningful upside relative to their historical performance. In the second quarter, stronger local leadership, clearer accountability, focused resources, and improved commercial execution produced higher adjusted EBITDA and better margins at these parks. We are seeing disciplined execution is producing better financial outcomes and reinforcing our conviction in the opportunity.
One of the first steps we took earlier this year was restoring experienced park presidents at our largest parks, because our business performs best when decisions are made closest to our guests. These leaders are on the ground every day, responding quickly to changing conditions and empowering their teams. They now have clear accountability for the guest experience, revenue generation, labor deployment, ride uptime, and throughput, together with full responsibility for their park-level P&L. They have a strong voice in the long-range plans we are establishing for each site. We have also strengthened leadership across our central park support teams. Mark Pauls recently joined Six Flags as Chief Operating Officer, and in June, Amy Martin Ziegenfuss joined as Chief Marketing Officer after leading marketing for Carnival Cruise Line.
Together with Ash Walia, who joined as Chief Financial Officer in mid-June, these appointments complete a refreshed C-suite with deep operating, financial, and commercial experience, a strong bias for accountability, and genuine enthusiasm for the opportunity ahead. Our customers are not one uniform audience. A family considering its first visit has different motivations from a thrill-seeking teenager, an active passholder, a lapsed guest, or someone considering a premium experience. We are developing more precise segmentation and tailoring the message, product, and value proposition for each audience. We are also improving the pacing and allocation of marketing investment in measuring the incremental attendance, revenue, and contribution generated by individual campaigns and channels, not simply impressions, clicks, or gross ticket sales. Our unified ticketing, CRM, and first-party data capabilities support more precise offers, stronger acquisition efficiency, better renewal rates, cross-park visitation, and in-park spending.
Our season pass and membership strategy is another source of confidence. During the quarter, season pass sales increased. Our active pass base grew 6%. Membership participation expanded. Demand for higher-tier products remained strong. Importantly, both our single day and our combined season pass and membership products yielded higher average prices. In June, we expanded our membership offering to six additional parks. Cross-park visitation also continued to grow as guests used the flexibility of our multi-park products to visit more parks during the season. These benefit-rich choices deepen engagement, strengthen recurring revenue, and improve visibility into future demand. On average, a passholder visits approximately four times per year, creating multiple opportunities to purchase food and beverages, merchandise, games, parking, and premium experiences. As attendance shifts toward passholders, admissions revenue per visit may decline because pass revenue is recognized across multiple visits.
We view that as an attractive trade when the guest pays more up front, visits more often, and generates incremental in-park spending. Our objective is to maximize the total seasonal and lifetime value of each guest relationship while ensuring those incremental visits remain profitable. The guest experience remains the foundation of our strategy. Ride availability is one of its most important drivers. Ride uptime improved in the quarter and year to date, although performance remains uneven across parks. We incurred higher repair and maintenance expense at certain parks as we reduced downtime. We will not compromise on safety. Our continuing work on uptime and throughput delivers more attraction experiences per guest, rebuilds guest trust, supports repeat visitation, and strengthens long-term pricing power. Capital investment is also essential to the strategy. Every project must compete for capital, enhance the guest experience, and deliver an attractive long-term return.
While our multi-year plans responsibly address guest amenities and comfort. This year's lineup includes Tormenta Rampaging Run at Six Flags Over Texas, Phantom Theater at Kings Island, the reimagined Looney Tunes Land at Magic Mountain, and Shoreline Pier at Six Flags Great Adventure, together with locally tailored America 250 programming. These investments give guests new reasons to visit, encourage repeat visitation, and support stronger returns on the capital we deploy. We also simplified our portfolio. The sale of seven smaller non-core parks lets us concentrate leadership, operating resources, and capital on the properties with the greatest long-term potential to operate more consistently, to allocate capital more effectively, and reduce leverage. With that, I'd like to introduce our new Chief Financial Officer, Ash Walia, who joined us in mid-June and is already having a positive impact on our company.
Ash will review our second quarter financial results, expense performance, and balance sheet. Ash?
Thank you, John, and good morning, everyone. It's a pleasure to be with you, and I look forward to meeting many of you in the quarters ahead. Before discussing the quarter in more detail, I'd like to address our year-over-year comparisons. As noted in our earnings release, reported second quarter 2025 results included eight parks that are no longer part of our operating portfolio. Those parks contributed approximately $86 million of revenue in last year's second quarter. My remarks will focus primarily on our current operating portfolio, which provides the clearest view of the business we manage today. On a same-park basis, net revenue increased 2% to approximately $864 million, despite 44 fewer operating days. Attendance increased approximately 449,000 visits, or 4%, driven by continued strength in season pass visitation and the commercial initiatives John discussed.
Per capita spending declined modestly by less than 1%, primarily because seasons pass and membership visits represented a larger share of attendance. This is a mix and revenue recognition effect, not weaker pricing. As John noted, like-for-like pricing increased across our admission products. Guest spending remained healthy across food and beverage, extra charge attractions, and our other in-park experiences. Let's move to expenses. Second quarter operating days declined 3%. Most of our park level expenses base is fixed or semi-fixed. We incur substantial labor, maintenance, utilities, insurance, and overhead costs regardless of the precise number of days the parks are open. When we reduce operating days, these costs are allocated over fewer days, so expense per operating day may increase mechanically. Investors, therefore, should not expect expense per operating day or total quarterly expenses to decline at the same percentage as the operating days.
Even with that fixed and semi-fixed cost structure, our park teams managed strong cost discipline, allowing us to retain a meaningful portion of the quarter's incremental revenue. As a result, second quarter same-park adjusted EBITDA increased approximately 7% to $249 million, demonstrating that the operational initiatives John discussed are translating into improved financial performance. Turning to the balance sheet, we continued to strengthen our financial position during the quarter. We used proceeds from the portfolio transaction, together with improved operating cash flow and disciplined capital spending to reduce outstanding borrowings while maintaining substantial liquidity. Deferred revenue increased on a current operating portfolio basis, reflecting continued growth in membership and advance sales. We ended the quarter with approximately $135 million of cash, total liquidity of approximately $837 million, and a net debt of approximately $4.9 billion. With that, I'll turn the call back to John.
Thanks, Ash. Let me turn to our outlook. Excluding the seven parks sold in the portfolio transaction and the park we closed following the 2025 operating season, trailing 12-month adjusted EBITDA was $801 million, compared with $745 million for the full year 2025. Building on that progress, we expect adjusted EBITDA to continue to grow year-over-year in the second half of 2026. That expectation incorporates two headwinds at the start of the third quarter, the unfavorable July 4 calendar shift, and wildfire-related air quality disruptions. We expect to grow despite these factors. Importantly, on days in July that were not affected by these disruptions, we saw very healthy performance, which included delivering our highest summer attendance day over the last five years on a same-park combined basis.
These results provide compelling evidence that underlying demand among our guests remains strong, despite the calendar shift and wildfire-related air quality disruptions affecting the month overall. For modeling purposes, we plan 2,133 operating days in the quarter, 66 more than last year's third quarter, primarily because the timing of Labor Day provides an additional week of summer operations at several Northern and Midwestern parks. On August 7th, we will launch our 2027 passes with a new best price guarantee, enhanced benefits, and new flexible dining plan options. That launch and our seasonal events will be supported by larger active pass base, broader membership availability, more targeted marketing, and continued work on ride uptime and throughput. We will maintain the same expense discipline that benefited the first half. Our fourth quarter plan adds several demand drivers when we launch America's biggest Halloween party, with 448 Halloween-themed experiences from coast to coast.
We'll host visitors at 107 haunted mazes, immersing guests into some of the world's most iconic horror franchises, with 11 new ones in 2026. Our commercial team is improving upon our Halloween event upsell experiences. We're also restoring Holiday in the Park at two of the parks where it was not offered in 2025, including Six Flags Over Georgia and Six Flags Great Adventure in New Jersey. Our efforts to operate more efficiently and expand margins to our potential will continue as a high priority, boosted by new resources and approaches in workforce deployment, now led by Mark Pauls, and in supply chain value creation, where Ash brings considerable experience to us.
Beyond the fourth quarter, construction is underway on our 2027 attraction pipeline, including Bakunawa at Six Flags Great Adventure, Werewolf Gorge at Six Flags Fiesta Texas, Rip Roarin' Falls at Carowinds, and the reintroduction of Georgia Gold Rusher at Six Flags Over Georgia. Just this morning, we announced that for 2027, Six Flags Great America in Chicago will debut Camp Timber Trail, featuring nine attractions and experiences, making it one of the largest family-focused investments in Great America's history. Over time, we believe this business can deliver adjusted EBITDA margins in the mid-30% range while reducing leverage toward our long-term objective of approximately four times. Over the past several months, we have assembled the management team needed to execute this plan. Mark Pauls recently joined us as Chief Operating Officer, completing a leadership team with the experience and accountability to execute at a higher level.
The second quarter was an encouraging step in Six Flags' transformation. Our priorities remain clear: strengthen park-level accountability, improve the guest experience, build our commercial capabilities, and allocate capital with discipline. Together, these actions are producing stronger financial performance and building long-term shareholder value. Before we take your questions, I want to thank our team members across the company. Their commitment, energy, and dedication makes this business successful. We are encouraged by our progress, confident in our direction, and excited about the opportunities ahead. Operator, that concludes our prepared remarks. We'd be happy to take questions.
Thank you. We are now opening the floor for a question-and-answer session. If you'd like to ask a question, please press star followed by one on your telephone keypad. That's star followed by one on your telephone keypad. Kindly limit your questions to one question and one follow-up. We will pause for a brief moment to wait for the questions to come in. Your first question comes from the line of Steven Wieczynski of Stifel. Your line is now open.
Guys. Good morning. John, I want to start with, you gave some high-level thoughts around July. It looks like you were probably somewhat impacted there by weather and then the shift in the Fourth of July holiday. Can you maybe help us think a little bit more about how July trended from a like-for-like basis, either whether that's from an attendance basis or from a revenue basis? Just trying to get a sense for how we should be starting the third quarter off. Thanks.
Hey, Steve. Good morning. Thanks for the question. If it helps, while we aren't giving guidance for the third, fourth quarter or the year, what we will say is we expect to grow EBITDA, adjusted EBITDA, in the balance of the year. Let me take you through a few points about July and then the balance of the year that might be helpful for your modeling. First of all, I'd note, if you look at the trailing 12 months, our adjusted EBITDA, again, on a same park basis, is $801 million. That's compared to $745 million in full year 2025. We expect to grow upon that $801 million in the back half. We have some positives and some negatives.
In July, there are some negative factors, and we don't want to dwell on any short-run negative factors because we believe there's a lot of potential in this business that's within our control over time, and over time, as I said, we expect to grow. However, the Fourth fell on a Saturday, which does affect some people who like to bridge a holiday into a longer period, versus prior year, where it was on a Friday. We had some disruption from wildfire air quality issues really across the Great Lakes and from Toronto down to Virginia over various periods of time, and even caused some park closures for air quality.
What encouraged us in July is as we moved through the month is one of the points that we made earlier, is that we had a day where our cumulative attendance total was the best we've seen in five years. We're seeing demand come back when we have positive conditions, and that's our expectation for the business over time. Again, where we are in attendance year-to-date, where we are on our pass base gives us positive indications as we go forward. When you look at the 6% pass and membership-based growth, that's a positive indicator as we go forward in Q3 and Q4. We have more folks in our membership programs. Our membership programs are our higher per cap programs, and they have, more importantly, almost they have higher renewal rates.
We'll have more and more guests renewing over the back two quarters than we had last year. That's another positive factor. We have an extra week of summer, essentially, with Labor Day, and along with the new holidays in December, that's driving the additional operating days that we referenced, Steve. The other thing that I would mention that we're really encouraged by is Halloween. We just went through some of the factors on it. In about two weeks, we're going to be announcing some of the IPs that we're expanding to, including four pretty new and exciting ones. When you look at the scope of what we have in Halloween, no one's doing anything in this kind of scope, in this kind of geographic range, and with this many attractions. We're really excited about Halloween, about the programming that we have coming in.
When you take that all into effect, we expect to grow in Q3 and Q4, and in the back half of the year. The opportunities with Halloween and Holiday in the Park probably provide the greatest opportunity for Q4 relative to Q3.
Okay, got you. Thanks for that. That's good color, John. Second question, I don't know if this is for you or for Ash, but just want to ask about the opportunity to now de-leverage moving forward. I guess what I'm trying to understand is with you guys generating, John, you just kind of said somewhere around $800 million in EBITDA, you should potentially even maybe beat that. We have the CapEx number. We have the cash interest. We have the cash taxes. We put all this together, that would still kind of show us somewhere around that kind of break-even free cash flow point, if not maybe even slightly negative this year. Just wondering how we should think about de-leveraging moving forward, especially, you guys are going to have this Atlanta or Georgia payment coming up as well sometime next year.
Any color there would be super helpful. Thanks.
Sure. As we've said, our goal over time is to get to a 4.0 net leverage debt to EBITDA, and our confidence remains that we can get there. We have the liquidity to manage the Georgia payments, we're in a position to do that when that comes due. We still feel good about our program going forward. We're judicious in our capital expense. We feel like we're addressing all the needs. We should be in a 400-425 range. Over time, we still feel good about getting the net leverage down to where it should be.
Okay, great. Thanks, guys. Appreciate the color.
Your next question comes from the line of James Hardiman of Citi. Your line is now open.
Hey, good morning. Just as a point of clarification, Steve had asked about sort of July. John, I think I just heard you say you expect to grow not only in the second half, but both in 3Q and 4Q. I guess the simple version of the question is how much of a hole do you need to dig yourself out of coming out of July to grow EBITDA in the third quarter?
What I'd say about July relative to the rest of the third quarter is that what we have coming ahead are, again, this expanded pass and membership base. We have the favorable calendar in terms of where Labor Day is falling. We have additional days to drive that business, we also will have people, as we said, in terms of membership, other revenue initiatives driving us forward. That said, the opportunity for growth is bigger in Q4, and we expect more towards the end of the half, Q4.
Got it. That makes sense. This is sort of a modeling question. I don't know how well this is going to go on an earnings call because it's a little bit of minutiae. I think as we think about the second quarter, that 9% delta between sort of the reported attendance number and the same store number, I think that was bigger than most people were anticipating. Can you help us with how to think about sort of the gap that the sold parks is going to create over the next couple of quarters? Attendance would be a great starting point, but anything you could give us on per caps revenues, EBITDA in overall.
You had given us some sort of pro forma tables last time around, but maybe just so we're all on the same page, just understanding those reported versus same store numbers going forward would be really helpful.
Sure, James. We would refer you back to the table that you all can find in the Q1 Earnings Report where we gave the balance of the year by quarter, the attendance impacts for the specified parks versus the consolidated company number. In Q4, the numbers are there for attendance and revenue of what we modeled. In Q2. In Q3 and Q4, it's about a $66 million EBITDA impact for the balance of the year. We'd refer everybody back to that table.
Okay. I will follow up on that one. Thanks.
Thanks.
Your next question comes from the line of Lizzie Dove of Goldman Sachs. Your line is now open.
Hey, good morning. Thanks for taking the question. I just wanted to ask on just kind of the margin and cost side. If I'm doing my math right here, I think margins were up about 50 basis points year-over-year, but off of a base of when they were maybe kind of down over 600 basis points last quarter when you'd obviously had some challenges in both revenue and costs. I guess as we think about from here, not looking for specific guidance, but just how do you think about the ability to kind of increase some of the cost savings and the margin power from here? Thanks.
Yeah. We feel good about the flow-through that we've been able to generate. If you look at Q2, we picked up about 1.2 points, 120 basis points in margin on a same park basis. We could walk through that at a later time. We picked up margin. We had strong flow through the quarter as we've had for half one. We're in the early stages on this. We believe we have considerable growth. We've mentioned before that there are plenty of proof points. Given the scale of the company, we have the potential to get to the mid-30s over time. That remains our goal. I'm especially encouraged by the team members that have just joined us. Ash Walia in Finance has extensive supply chain experience, Ash is already starting to make an impact, but he's just arrived.
Mark Paul in Operations has extensive experience both improving the guest experience and doing it very efficiently, including with our labor deployment. We're encouraged by the skills that we've brought on. I think we have a good proof point in terms of expanding it, expanding our margins in Q1 and Q2 on a same park basis. We expect to be able to, over time, accelerate that and get to the mid-30s as we've said.
Just on the per cap side of things, appreciate Q4 and Q1 aren't super indicative quarters given its lower volume, but it does seem like a bit of a reversal from the growth we've seen those past couple of quarters versus what you did now on a same park base. I know you talked about some of these initiatives, in terms of maybe what's hitting that, but could you maybe kind of share more of that? Is that kind of a specific Q2 thing, or is that something that we should expect to kind of continue from here?
Sure. Good question. If you remember for the Q4 of 2025, I believe for Q1 of 2026, we mentioned that there was a bit outsized per cap growth and that we wouldn't extrapolate that for the full year. When you look at Q2, this is an intentional strategy that we've been talking about to grow our pass and membership base. If you look at the pass plus membership category of tickets, the average ticket sold was sold at a higher price than in the previous comparable period, same park. The same goes for what we call demand tickets or single day tickets, which includes our group and single day demand tickets that are sold for the parks. That category also increased on an average price basis, versus the same period, same park basis, Q2 2025.
We feel good about our ability to continue to expand the pass and membership program, you may see mix effects as a result of that, ticket mix effects. We're building total revenue per customer and total lifetime customer value. That's part of an intentional strategy. In the quarter, you did have some also park mix. Within the same park portfolio, we had some parks outperforming, you have some natural park mix shifts. Going forward in the quarter, just to give you a little bit of color, again, we have some membership impacts that will help us as we move forward. We also have some strong initiatives on in-park, including on our queuing programs and including on some per cap expansion for Halloween.
Great. Thanks so much.
Your next question comes from the line of Chris Woronka of Deutsche Bank. Your line is now open.
Guys, thanks for taking the questions. John, I was hoping maybe you could talk a little bit about any efforts to kind of connect ancillary to pass sales on a pre-sale basis. I know the cruise lines are famous for this, and you recently brought in some new leadership there in marketing. I'm just hoping if you see an opportunity to maybe meaningfully increase the attachment of some ancillary revenue to the pass sales on a pre-sale basis. Thanks.
Yeah. Great question, it is a deliberative strategy that we have in the company. One of the folks that's been promoted in our recent leadership initiatives across the company is Chris Myring, who is heading up commercial for the group. We're also working with external experts that have worked in the field a lot in terms of pricing, we're really building on our capabilities. We have made some changes in some ancillary product initiatives under Chris's leadership. One would be Fast Lane, where we tested different approaches from each of the legacy companies in parks, and now we have an optimal way going forward that will help us, particularly in 2027. The other thing that we've done, Chris, is made some changes to our dining programs. This is a huge program, a huge satisfier for many of our guests.
It drives a lot of attendance and a lot of footfall, our commercial team has researched, tested, and now deploying today with our pass launch, new dining program options that give guests more flexibility for both limited plans and all-season plans. On the all-season plans, we did feel that we were underpriced. We've taken those up, but we've given people really also very affordable plans with certain limits. I would say the early returns, because we did launch a few parks in the last week or two, are that we're seeing a double-digit growth in attachment rate so far. Very early returns.
Okay. Super helpful. Thanks, John. As a follow-up, I won't ask you for a specific number on 2027 or beyond, but directionally, do you think you're possibly moving closer to a place where you trade some hard CapEx $ for some soft CapEx $? By that, I just mean kind of coasters versus live entertainment that doesn't necessarily have a fixed hard cost to it. Is that something that's on the table going forward as well?
It's a good question, as we mentioned, we're launching our 2027 Pass Program in most parks today, this afternoon. One of the great drivers for Pass is our event series. We do very well with Halloween, we do well with Christmas period events, Holiday in the Park, and WinterFest. We have a great case study within our own portfolio of a food and beverage event with the Boysenberry Festival at Knott's Berry Farm. It's a fantastic event. Drives very high per caps, very high visitation, and very high pass renewal. So we'll be launching more food and beverage events across the portfolio next year. We believe events are a very efficient way to deploy capital as we go forward.
Great. Thanks, John.
Your next question comes from the line of Ian Zaffino of Oppenheimer. Your line is now open.
Hi, great. Thank you very much. Just wanted to look at the numbers here and the comments that you're giving us and maybe give us your thoughts on the consumer and kind of the ability to maybe push pricing. It seems like some of the pricing was up on an apples-to-apples basis based on your comments. Maybe give us a sense of how much that was, and kind of also what's been driving some of the in-park spend, as it relates to the strength of the consumer. Thanks.
Thanks. Relative to the strength of the consumer, I will probably characterize this answer the way we did on the last call as well. Look, we're finding consumers to be responsive. We're putting out strong values and working very hard to improve the experiences in the parks. We see consumers respond. You see the attendance increase at 4% and the pass base increasing at 6%. We believe there's a lot in our power to drive visitation and consumer spending, including per capita spending as we go forward. When we have well-researched products and effective marketing to convert people to those products, we're seeing the potential. I mentioned Fast Lane, our queuing programs, initiatives we have there. Our dining program has huge appeal to our visitors, and we expect that will continue and even expand with new flexible programs.
We're launching new concepts in F&B, new refresher beverage concepts, and other things that are getting good early returns. We see when we do the right things, we're able to move the in-park spending per capita.
Okay. Thank you. Then on the multi-park pass, how is that going? I know you kind of commented that it was going okay, but maybe a little bit more color on that as far as maybe the economic benefit of it, what it means to the company, and how we think about this going forward as far as the maturation period of this, because it was just introduced. Thanks.
Yeah. I'd say we're in the early stages, right? It was just introduced, a couple of proof points that have us very encouraged. When it was introduced, our pass sales went on a much stronger trajectory. Some of that we credit to better product architecture, better merchandising, better conversion rates on our website from people shopping to people buying. There's a lot happening to drive it. Clearly, it coincided with the introduction of the multi-park visits on a regional basis. We're seeing the usage of the pass follow the same pattern. We're seeing people within regions visiting at very healthy rates on cross parks. Just one illustrative example would be in Los Angeles. We have two of the greatest parks in the world with Knott's Berry Farm and Magic Mountain.
We're seeing lots of cross-visitation, and we're seeing people in Greater Los Angeles and Orange County respond very strongly with the value of buying one pass at their home park and having the ability to visit a very different kind of park and have a very well-rounded experience across the two. We're in the early stages. Halloween will also be a good read on that as we've just sent out CRM communications regionally inviting people to visit our other parks this summer. We'll do the same for Halloween. We're in the early stages, but everything we see is encouraging about the appeal to our guests.
Okay. Thank you very much.
Again, if you'd like to ask a question, please press star followed by one on your telephone keypad. That's star followed by one on your telephone keypad. Kindly limit your questions to one question and one follow-up. Your next question comes from the line of Ben Chaiken of Mizuho. Your line is now open.
Hi, it's Alok Patel on for Ben Chaiken. Thanks for taking our questions. Just if I'm not mistaken, the same park attendance in 2Q26 release seems about 500K different than what was suggested in the 1Q release that you pointed us to earlier. Maybe to ask the previous question differently, what is the 3Q25 and 4Q25 same park base we should be using for going forward?
From the table that we had in the Q1 earnings, we had $3 million in Q3 and $1 million in Q4. I'm going to give you one more decimal point so that helps in your modeling. It's $2.9 million in Q3 and $0.6 million in Q4. Hopefully that helps.
Okay. Yeah, that's helpful. Just a quick follow-up. How should we think about cash costs for the balance of the year? 2Q25 had elevated marketing costs. You guys look like in 2Q were roughly flat on the same park basis. Does that imply that 2H cash costs will be higher year-over-year?
I think you could expect modest growth in the cash costs over the balance of the year.
Okay, thanks. That's everything I had.
Thank you.
Your next question comes from the line of Arpine Kocharyan of UBS. Your line is now open.
Hi. Good morning. Thank you very much for taking my question. I was wondering if you could comment a little bit more on per cap spend in the context of sold parks. Specifically, when we think about these lower margin parks that were sold and think about ancillary spend at those parks and the fact that some of those higher performing remaining parks should have better per cap spend. Could you comment why that spend on per cap basis shouldn't grow nicely year-over-year? Again, on the same park adjusted basis, I know on admission side of things, pass product mix improvement can impact admissions per cap. The more successful pass product you have, that can put pressure a little bit on admissions per cap. I'm just asking about in-park spend here. Then I have a quick follow-up. Thank you.
Arpine, it's a good question. What I would say is the way we've presented and talked about the per cap quarter-over-quarter, year-over-year is on a same park basis, it adjusts out for the parks that we sold. Would those parks likely have had a lower average? Potentially, yes. A lower average per cap.
Okay.
On the same park basis, it should be comparable for you.
Yeah, no, absolutely. I was just wondering why I didn't see that growing a little bit more. Maybe on go forward basis, it shouldn't grow slightly better, given most of the parks sold were really sort of lower margin parks.
Yeah. I think one of the impacts there is mix of parks.
Okay.
We had strong growth, for example, in Canada and Mexico, that's where park mix can affect the overall number.
Okay. Thank you. I'm so sorry. I'm hoping between calls today, so it's very possible you went through this in detail. Really apologize in advance if you have to repeat yourself. I was hoping if you could talk a little bit more about EBITDA flow-through for the quarter. You were comping some marketing pull forward, there was some shift in maintenance costs that shifted out of Q1 into Q2. Anything else that you could share on that EBITDA flow-through to help us better understand this quarter? Thank you.
Those are the major factors, Arpine. I think you hit them. As we mentioned on the Q1 call, we expected some of the savings in Q1 to pull forward in terms of maintenance costs. We saw that as we worked on ride-up time. Some of that materialized. You're correct about marketing. We feel good about the flow-through that we've seen year to date is very strong. In the quarter, 1.2% better. Plenty of opportunity for growth over time to get to our target in the mid-30s.
Wonderful. Thank you very much. Appreciate it.
Your next question comes from the line of David Katz of Jefferies. Your line is now open.
Hi, good morning, everyone. Thanks for taking my question. I know you've covered a lot already. I don't believe we've had any discussion about sort of the base of parks and whether there are sort of parks on the edge that continue to be reviewed, and whether the divestiture concept is still something that's an ongoing process, or should we look at the base as fairly set for the moment?
It's a good question, and for now, what I would say is that we don't expect any changes in our portfolio of parks this year. As I mentioned, we're launching our pass sales today, and our pass launch last year, I think, was probably impacted by some of that discussion. I think it's important for our consumers to know that we don't have any changes planned right now. I would say that, of course, we'll always look to do what is best in terms of creating value in the business and creating value in our shareholders. We wouldn't exclude any discussion in the future, but no current plan.
Understood. Then, this may be an unusual question, but I think too often, we on Wall Street position companies, consumers either at one end of the K or the other end of the K, and it feels to be becoming more and more of a binary question. Where on that letter K do you sort of put your people, or are they dispersed? How would you have us think about your population of target consumers in that way?
Yeah. This gets back to the potential we have with our new marketing and commercial organization and some of the priorities that our new chief marketing officer have in the business. We have opportunities to further segment our offering and to speak to different audiences of guests. There's a good example with Magic Mountain relaunching Looney Tunes this year for kids in one of the world's greatest thrill parks, greatest coaster parks. We successfully launched a kids attraction, and we're super pleased with that. In Chicago, a great thrill park, we're launching a family and kids attraction for 2027. We have a great offering across the portfolio for all kinds of audiences with our events, with our rides, with our thrill rides, our family rides, and family attractions and entertainment.
The opportunity we have is to better segment our marketing through better data capabilities and speak to audiences that are out there. I would say we have opportunity because our effort to target different segments is very limited at this point. We have opportunities to expand all over the consumer spectrum, whatever side of the K they might be coming from. I see our opportunity as one to build our capability, and we can appeal across segments.
Thank you very much.
Your next question comes from the line of Mike Pace of JPMorgan. Your line is now open.
Hi, good morning. Apologies if this stuff was gone over. A busy morning here. Season pass sales and up-tiering on pricing and packaging is a good trend. Just to maybe focus on the +4% attendance growth. Weather just seemed better than +4% year-over-year. I know there was some early noise with spring break and Easter. How much did that impact on the percentage point basis maybe? Any other puts and takes, I would just love to hear whether +4% met your expectations? I have a quick couple follow-ups.
Again, we prefer to take up a bit of a longer view over quarters and over the year. In Q2, early in the year, clearly we had better conditions in California, and we should acknowledge that. In terms of spring break, we did have an impact from the pull forward of Easter and some of the spring break calendars relative to the prior year. That cascaded into some other things like Knott's Berry Farm. We opened the Boysenberry Festival. It was a very high per cap, higher priced and higher attended event, more of it into Q1. We saw those impacts. Certainly, we would say in some regions like California, yes, we saw improved conditions. We feel good about the traction for our pass sales program.
When you look at the leading indicators of the growth of our base and what we believe will be the stickiness of the base for renewal and people moving into higher tiers and higher products, that's the important leading indicator for us strategically. We always want to do better than what we did. We believe 4% and 6% on the pass is a good sign that our initial initiatives are focused in the right area, and we believe we can continue to yield them.
Got it. I'm not sure who this one is for. In the past, you've mentioned the potential to sell some unused land, and I'm curious where that stands and versus prior expectations on dollars and timing. Any thoughts there? Your prior commitment that any and all asset sale proceeds would be used to pay down debt. Can you reiterate that if you can? Thank you.
I'll start by reiterating the second part, which I think is important to everybody for the asset sales, that it will be used to pay down debt. We have the long-term goal of 4x. The biggest land sale initiative that we have happening is in Bowie, Maryland, at the site of the former park there. We have signed a contract, a purchase agreement for the park. The buyer is going through a due diligence process. The window for that materializing is going to take some time. That might be late 2027, early 2028. We made a lot of progress there. We're progressing well on the excess land in Richmond, Virginia, and I would say we have strong interest and some bids under evaluation for the excess land.
Thank you.
Thank you.
Thank you. That concludes today's Q&A session. I'll now turn it over to Michael Russell for closing remarks.
Thanks, Ellie, and thanks to everyone for joining us today. Our next earnings call will be in early November when we report our third quarter 2026 results. That concludes our call today, Ellie. Everyone can disconnect.
Thank you for attending today's call. You may now disconnect. Good day.
Investor releaseQuarter not tagged2026-08-05Planet Fitness to Post Q2 Earnings: What's in the Cards for the Stock?
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Planet Fitness to Post Q2 Earnings: What's in the Cards for the Stock?
Planet Fitness, Inc. PLNT is scheduled to report second-quarter 2026 results on Aug. 6.PLNT’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.6%. The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 85 cents, indicating a fall of 1.2% from 86 cents reported in the year-ago quarter. Planet Fitness, Inc. price-consensus-chart | Planet Fitness, Inc. Quote For revenues, the consensus mark is pegged at nearly $355.8 million, suggesting growth of 4.4% from the prior-year quarter’s figure.Let's look at how things have shaped up in the quarter. Planet Fitness’ second-quarter performance is likely to have benefited from existing membership pricing, a favorable Black Card mix, recently opened clubs and replacement equipment sales. This and contributions from the corporate clubs are likely to have aided the company’s top line in the quarter to be reported. The Zacks Consensus Estimate for corporate-owned club revenues is pegged at $146.1 million compared with $138.9 million reported in the prior-year quarter.Emphasis on equipment mix is likely to have aided the company’s performance in the second quarter. Planet Fitness expects the quarter to account for approximately 30% of its full-year replacement equipment revenues. Continued re-equipment demand across the franchise system is likely to have supported quarterly performance.However, softer join trends, continued attrition pressure and the decision to pause the nationwide Black Card price increase are likely to have weighed on quarterly performance. Member joins remained below expectations through March and early April, while monthly attrition is expected to remain in the upper half of 3-4% range.Competitive pressure in the South Central and Southeast regions, along with financial strain among lower-income consumers, may have presented additional challenges. The absence of the planned Black Card price increase and weaker net member growth are likely to have constrained same-club sales growth in the quarter under review. Our proven model does not conclusively predict an earnings beat for Planet Fitness this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that's not the case here.PLNT’s Earnings ESP: Planet Fitness has an Earnings ESP of +1.…Read full documentShow less
Planet Fitness, Inc. PLNT is scheduled to report second-quarter 2026 results on Aug. 6.PLNT’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.6%. The Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 85 cents, indicating a fall of 1.2% from 86 cents reported in the year-ago quarter. Planet Fitness, Inc. price-consensus-chart | Planet Fitness, Inc. Quote For revenues, the consensus mark is pegged at nearly $355.8 million, suggesting growth of 4.4% from the prior-year quarter’s figure.Let's look at how things have shaped up in the quarter. Planet Fitness’ second-quarter performance is likely to have benefited from existing membership pricing, a favorable Black Card mix, recently opened clubs and replacement equipment sales. This and contributions from the corporate clubs are likely to have aided the company’s top line in the quarter to be reported. The Zacks Consensus Estimate for corporate-owned club revenues is pegged at $146.1 million compared with $138.9 million reported in the prior-year quarter.Emphasis on equipment mix is likely to have aided the company’s performance in the second quarter. Planet Fitness expects the quarter to account for approximately 30% of its full-year replacement equipment revenues. Continued re-equipment demand across the franchise system is likely to have supported quarterly performance.However, softer join trends, continued attrition pressure and the decision to pause the nationwide Black Card price increase are likely to have weighed on quarterly performance. Member joins remained below expectations through March and early April, while monthly attrition is expected to remain in the upper half of 3-4% range.Competitive pressure in the South Central and Southeast regions, along with financial strain among lower-income consumers, may have presented additional challenges. The absence of the planned Black Card price increase and weaker net member growth are likely to have constrained same-club sales growth in the quarter under review. Our proven model does not conclusively predict an earnings beat for Planet Fitness this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. However, that's not the case here.PLNT’s Earnings ESP: Planet Fitness has an Earnings ESP of +1.36 %. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Planet Fitness’ Zacks Rank: The company currently has a Zacks Rank #4 (Sell). Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that they have the right combination of elements to post an earnings beat.Six Flags Entertainment Corporation FUN currently has an Earnings ESP of +6.90% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here. FUN’s earnings for the to-be-reported quarter are expected to increase 11.5%. FUN’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed on two occasions, the average surprise being 48.9%.Marriott Vacations Worldwide Corporation VAC currently has an Earnings ESP of +5.26% and a Zacks Rank of 2. Marriott Vacations’ earnings for the to-be-reported quarter are expected to increase 1%. VAC reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 0.7%. Expedia Group, Inc. EXPE currently has an Earnings ESP of +2.52% and a Zacks Rank of 3. In the to-be-reported quarter, Expedia’s earnings are expected to surge 28.5%. Expedia’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 13.9%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Planet Fitness, Inc. (PLNT) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report Marriott Vacations Worldwide Corporation (VAC) : Free Stock Analysis Report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-08-05Spectrum Brands Gears Up to Report Q3 Earnings: What's in the Offing?
Zacks
Spectrum Brands Gears Up to Report Q3 Earnings: What's in the Offing?
Spectrum Brands Holdings, Inc. SPB is expected to register year-over-year growth in the top line when it reports third-quarter fiscal 2026 results on Aug. 7, before the opening bell. The Zacks Consensus Estimate for SPB’s revenues is pegged at $732.4 million, indicating a rise of 4.7% from the year-ago quarter. Spectrum Brands Holdings Inc. price-consensus-eps-surprise-chart | Spectrum Brands Holdings Inc. Quote The consensus estimate for Spectrum Brands’ earnings per share (EPS) is pegged at $1.49, indicating growth of 20.2% from the figure in the year-ago quarter. The consensus mark for EPS has been stable in the past seven days.In the last reported quarter, the company delivered an earnings surprise of 20.2%. SPB has recorded an earnings surprise of 85.04% in the trailing four quarters, on average. Spectrum Brands’ fiscal third-quarter performance is likely to have benefited from sustained momentum in its Global Pet Care and Home & Garden businesses, where management has consistently emphasized market-share gains, strong brand execution and a healthy innovation pipeline. The company’s strategy of concentrating investments behind its largest brands, supported by targeted marketing campaigns and consumer-focused product launches, appears to be resonating well across key categories. Continued traction in pet care products, coupled with expanding distribution, digital execution and new product innovation, may have helped sustain demand during the quarter, reinforcing SPB’s competitive positioning despite a still-cautious consumer backdrop.Another likely tailwind for the quarter was Spectrum Brands’ continued focus on operational discipline and productivity initiatives. Management highlighted improvements in inventory planning, supply chain execution and enterprise resource planning implementation, which have enhanced efficiency while maintaining strong customer service levels. The company also indicated that pricing actions, cost-improvement programs and disciplined expense management were helping offset inflationary pressures and tariff-related costs. These operational initiatives, combined with prudent working capital management, were likely supportive of margins and overall profitability during the fiscal third quarter.Spectrum Brands’ Home & Garden business also entered the quarter with encouraging fundamentals. Management pointed to healthy retailer inve…Read full documentShow less
Spectrum Brands Holdings, Inc. SPB is expected to register year-over-year growth in the top line when it reports third-quarter fiscal 2026 results on Aug. 7, before the opening bell. The Zacks Consensus Estimate for SPB’s revenues is pegged at $732.4 million, indicating a rise of 4.7% from the year-ago quarter. Spectrum Brands Holdings Inc. price-consensus-eps-surprise-chart | Spectrum Brands Holdings Inc. Quote The consensus estimate for Spectrum Brands’ earnings per share (EPS) is pegged at $1.49, indicating growth of 20.2% from the figure in the year-ago quarter. The consensus mark for EPS has been stable in the past seven days.In the last reported quarter, the company delivered an earnings surprise of 20.2%. SPB has recorded an earnings surprise of 85.04% in the trailing four quarters, on average. Spectrum Brands’ fiscal third-quarter performance is likely to have benefited from sustained momentum in its Global Pet Care and Home & Garden businesses, where management has consistently emphasized market-share gains, strong brand execution and a healthy innovation pipeline. The company’s strategy of concentrating investments behind its largest brands, supported by targeted marketing campaigns and consumer-focused product launches, appears to be resonating well across key categories. Continued traction in pet care products, coupled with expanding distribution, digital execution and new product innovation, may have helped sustain demand during the quarter, reinforcing SPB’s competitive positioning despite a still-cautious consumer backdrop.Another likely tailwind for the quarter was Spectrum Brands’ continued focus on operational discipline and productivity initiatives. Management highlighted improvements in inventory planning, supply chain execution and enterprise resource planning implementation, which have enhanced efficiency while maintaining strong customer service levels. The company also indicated that pricing actions, cost-improvement programs and disciplined expense management were helping offset inflationary pressures and tariff-related costs. These operational initiatives, combined with prudent working capital management, were likely supportive of margins and overall profitability during the fiscal third quarter.Spectrum Brands’ Home & Garden business also entered the quarter with encouraging fundamentals. Management pointed to healthy retailer inventory positions, continued market-share gains across flagship brands and strong merchandising support, including expanded display placements and consumer-focused innovation. The company also remained optimistic about demand trends in its seasonal categories while continuing to invest behind brand-building initiatives. These factors, together with the ongoing strength of its Pet Care portfolio and management’s disciplined commercial execution, likely provided meaningful support to overall business performance during the quarter.On the other hand, Spectrum Brands’ Home & Personal Care segment likely remained a drag on fiscal third-quarter performance. Management continued to expect weak consumer demand for discretionary appliance products, particularly in North America and Europe, where shoppers have remained cautious amid higher product costs and competitive pressures. The company also anticipated lower sales volumes stemming from portfolio rationalization efforts, even as it focused on protecting profitability through pricing, cost controls and productivity measures. In addition, management remained watchful of broader macroeconomic uncertainty, geopolitical tensions and inflationary pressures, which could have weighed on consumer spending and tempered overall performance during the quarter. Our proven model does not conclusively predict an earnings beat for Spectrum Brands this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.SPB has an Earnings ESP of +0.56% and a Zacks Rank of 4 (Sell) at present. You can uncover the best stocks before they are reported with our Earnings ESP Filter. From a valuation perspective, Spectrum Brands has a forward 12-month price-to-earnings ratio of 15.69X, which is higher than the Zacks Consumer Products – Discretionary industry’s average of 15.24X. Image Source: Zacks Investment Research The recent market movements show that SPB’s shares have gained 20.2% in the past six months compared with the industry's 2.8% growth. Image Source: Zacks Investment Research Here are some companies, which, according to our model, have the right combination of elements to post an earnings beat:Six Flags Entertainment Corporation FUN currently has an Earnings ESP of +6.90% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.FUN’s earnings for the to-be-reported quarter are expected to increase 11.5%. FUN’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed on two occasions, the negative average surprise being 48.9%.Expedia Group, Inc. EXPE currently has an Earnings ESP of +2.52% and a Zacks Rank of 3.In the to-be-reported quarter, Expedia’s earnings are expected to surge 28.5%. Expedia’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 13.9%. Cintas Corporation CTAS currently has an Earnings ESP of +0.09% and a Zacks Rank #2. The Zacks Consensus Estimate for first-quarter fiscal 2027 earnings per share is pegged at $1.35, suggesting 12.5% year-over-year growth.The consensus estimate for CTAS' quarterly revenues is pegged at $2.97 billion, which indicates an increase of 9.2% from the prior-year quarter’s actual. CTAS delivered a trailing four-quarter earnings surprise of 1.8%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Spectrum Brands Holdings Inc. (SPB) : Free Stock Analysis Report Cintas Corporation (CTAS) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-08-05Take-Two Set to Report Q1 Earnings: What's in the Cards for the Stock?
Zacks
Take-Two Set to Report Q1 Earnings: What's in the Cards for the Stock?
Take-Two Interactive Software TTWO is scheduled to report its first-quarter fiscal 2027 results on Aug. 7, 2026.For the first quarter of fiscal 2027, Take-Two expects GAAP net revenues between $1.45 billion and $1.50 billion. The company projects a loss per share of 23 cents to 15 cents.The Zacks Consensus Estimate for TTWO’s fiscal first-quarter revenues is pegged at $1.35 billion, indicating a 4.81% year-over-year decline.The consensus mark for earnings is pegged at 31 cents per share, unchanged over the past 30- and 60-day periods. The estimate indicates a 49.18% year-over-year decline. Take-Two Interactive Software, Inc. price-eps-surprise | Take-Two Interactive Software, Inc. Quote However, TTWO beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, with an average surprise of 69.36%.Let us see how things have shaped up for the upcoming announcement. Take-Two is expected to have benefited in the first quarter of fiscal 2027 from Rockstar Games beginning the marketing campaign for Grand Theft Auto VI ahead of its Nov. 19 launch. Early promotional activity likely increased consumer awareness, strengthened pre-order momentum, enhanced franchise engagement and reinforced investor confidence during the quarter under review. The company also introduced record fiscal 2027 Net Bookings guidance of $8.0-$8.2 billion, reflecting confidence that GTA VI and the broader portfolio would drive a new phase of growth and long-term cash generation.Following a record fiscal 2026, Take-Two entered the first quarter of fiscal 2027 with strong operational momentum. The company generated record net bookings, delivered operating cash flow above forecast and expects to produce more than $1 billion in operating cash flow during fiscal 2027. Management also highlighted a pipeline of multiple upcoming releases alongside continued content updates across existing franchises. This combination of financial strength, a diversified release schedule and recurring live-service engagement is expected to have supported execution during the quarter under review.Take-Two's diversified mobile portfolio remained an important contributor to growth, supported by strong performances from Toon Blast, Match Factory!, Color Block Jam, Empires & Puzzles and Top Eleven. At the same time, the company's direct-to-consumer platform continued expanding through additional mobi…Read full documentShow less
Take-Two Interactive Software TTWO is scheduled to report its first-quarter fiscal 2027 results on Aug. 7, 2026.For the first quarter of fiscal 2027, Take-Two expects GAAP net revenues between $1.45 billion and $1.50 billion. The company projects a loss per share of 23 cents to 15 cents.The Zacks Consensus Estimate for TTWO’s fiscal first-quarter revenues is pegged at $1.35 billion, indicating a 4.81% year-over-year decline.The consensus mark for earnings is pegged at 31 cents per share, unchanged over the past 30- and 60-day periods. The estimate indicates a 49.18% year-over-year decline. Take-Two Interactive Software, Inc. price-eps-surprise | Take-Two Interactive Software, Inc. Quote However, TTWO beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, with an average surprise of 69.36%.Let us see how things have shaped up for the upcoming announcement. Take-Two is expected to have benefited in the first quarter of fiscal 2027 from Rockstar Games beginning the marketing campaign for Grand Theft Auto VI ahead of its Nov. 19 launch. Early promotional activity likely increased consumer awareness, strengthened pre-order momentum, enhanced franchise engagement and reinforced investor confidence during the quarter under review. The company also introduced record fiscal 2027 Net Bookings guidance of $8.0-$8.2 billion, reflecting confidence that GTA VI and the broader portfolio would drive a new phase of growth and long-term cash generation.Following a record fiscal 2026, Take-Two entered the first quarter of fiscal 2027 with strong operational momentum. The company generated record net bookings, delivered operating cash flow above forecast and expects to produce more than $1 billion in operating cash flow during fiscal 2027. Management also highlighted a pipeline of multiple upcoming releases alongside continued content updates across existing franchises. This combination of financial strength, a diversified release schedule and recurring live-service engagement is expected to have supported execution during the quarter under review.Take-Two's diversified mobile portfolio remained an important contributor to growth, supported by strong performances from Toon Blast, Match Factory!, Color Block Jam, Empires & Puzzles and Top Eleven. At the same time, the company's direct-to-consumer platform continued expanding through additional mobile integrations, lower payment friction and an improved user experience, resulting in higher conversion rates, stronger customer loyalty and better margins. Management also expressed greater confidence in the platform's long-term growth prospects. These factors are expected to have supported resilient first-quarter fiscal 2027 bookings and high-margin recurring revenues.Against the momentum, TTWO expects recurrent consumer spending (RCS) to remain flat year over year for fiscal 2027 despite the anticipated launch of Grand Theft Auto VI later in the year. Since RCS represents a significant portion of Take-Two's net bookings, the lack of expected growth suggests that ongoing monetization from live services may not provide the same level of incremental support seen in fiscal 2026. This dynamic is likely to have constrained first-quarter fiscal 2027 bookings and limited near-term revenue momentum before the company's major release schedule accelerates. Our proven model does not conclusively predict an earnings beat for Take-Two this time around. According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here, as you can see below.TTWO has an Earnings ESP of 0.00% and a Zacks Rank #1 at present. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat earnings this season.Six Flags Entertainment Corporation FUN currently has an Earnings ESP of +6.90% and sports a Zacks Rank #1. FUN shares have returned 4.7% in the past six months. FUN is set to report its second-quarter 2026 results on Aug. 6. You can see the complete list of today’s Zacks #1 Rank stocks here.Corsair Gaming CRSR currently has an Earnings ESP of +9.09% and a Zacks Rank #2. CRSR shares have surged 135.4% in the past six months. CRSR is slated to report second-quarter 2026 results on Aug. 6.Marriott Vacations VAC has an Earnings ESP of +5.26% and a Zacks Rank #2 at present. VAC shares have jumped 80% in the past six months. VAC is set to report its second-quarter 2026 results on Aug. 6. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Take-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis Report Marriott Vacations Worldwide Corporation (VAC) : Free Stock Analysis Report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report Corsair Gaming, Inc. (CRSR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-08-05Covista to Report Q4 Earnings: Here's What to Expect This Season
Zacks
Covista to Report Q4 Earnings: Here's What to Expect This Season
Covista Inc. CVSA is scheduled to report its fourth-quarter fiscal 2026 results on Aug. 6, after market close.In the last reported quarter, the company’s adjusted earnings per share (EPS) and revenues topped the Zacks Consensus Estimate by 14.5% and 1.9%, respectively. Also, year over year, both metrics grew 3.1% and 4.5%, respectively.CVSA’s earnings surpassed estimates in each of the trailing four quarters, with an average surprise of 11.7%. The Zacks Consensus Estimate for fiscal fourth-quarter EPS has remained unchanged at $1.90 over the past 60 days. However, the estimated figure indicates 14.5% growth from the year-ago quarter’s earnings of $1.66 per share.The consensus estimate for revenues is pegged at $485 million, indicating an improvement of 6.1% from the prior-year quarter. Covista Inc. price-eps-surprise | Covista Inc. Quote RevenuesDuring the fiscal fourth quarter, the top-line performance of Covista is expected to have increased year over year on the back of strong student enrollment due to elevated demand for healthcare professionals. Moreover, the education provider’s efforts toward AI infusion in its offerings, marketing investments, revamped education model and accretive collaborations are likely to have additionally bolstered the quarterly growth.The advantageous positioning of CVSA between the favorable demand trends for healthcare professionals and its in-house efforts of offering perfectly aligned educational services is expected to have boosted enrollment. This, in turn, is likely to have led to favorable contributions from CVSA’s three reportable segments - Chamberlain (contributed 40.5% to third quarter fiscal 2026 revenues), Walden University (contributed 38.3% to third quarter fiscal 2026 revenues) and Medical and Veterinary (contributed 21.3% to third quarter fiscal 2026 revenues).For the fiscal fourth quarter, the Zacks Consensus Estimate for revenues from Chamberlain, Walden University and Medical and Veterinary segments is pegged at $188 million, $202 million and $95 million, reflecting year-over-year growth of 2.2%, 11% and 4.4%, respectively.The quarter’s enrollment across Chamberlain, Walden University and Medical and Veterinary segments is expected to be 39,891, 52,424 and 4,819 students, indicating year-over-year growth from 38,891, 48,116 and 4,773 students, respectively. Our model also expects CVSA’s fiscal fourth-quart…Read full documentShow less
Covista Inc. CVSA is scheduled to report its fourth-quarter fiscal 2026 results on Aug. 6, after market close.In the last reported quarter, the company’s adjusted earnings per share (EPS) and revenues topped the Zacks Consensus Estimate by 14.5% and 1.9%, respectively. Also, year over year, both metrics grew 3.1% and 4.5%, respectively.CVSA’s earnings surpassed estimates in each of the trailing four quarters, with an average surprise of 11.7%. The Zacks Consensus Estimate for fiscal fourth-quarter EPS has remained unchanged at $1.90 over the past 60 days. However, the estimated figure indicates 14.5% growth from the year-ago quarter’s earnings of $1.66 per share.The consensus estimate for revenues is pegged at $485 million, indicating an improvement of 6.1% from the prior-year quarter. Covista Inc. price-eps-surprise | Covista Inc. Quote RevenuesDuring the fiscal fourth quarter, the top-line performance of Covista is expected to have increased year over year on the back of strong student enrollment due to elevated demand for healthcare professionals. Moreover, the education provider’s efforts toward AI infusion in its offerings, marketing investments, revamped education model and accretive collaborations are likely to have additionally bolstered the quarterly growth.The advantageous positioning of CVSA between the favorable demand trends for healthcare professionals and its in-house efforts of offering perfectly aligned educational services is expected to have boosted enrollment. This, in turn, is likely to have led to favorable contributions from CVSA’s three reportable segments - Chamberlain (contributed 40.5% to third quarter fiscal 2026 revenues), Walden University (contributed 38.3% to third quarter fiscal 2026 revenues) and Medical and Veterinary (contributed 21.3% to third quarter fiscal 2026 revenues).For the fiscal fourth quarter, the Zacks Consensus Estimate for revenues from Chamberlain, Walden University and Medical and Veterinary segments is pegged at $188 million, $202 million and $95 million, reflecting year-over-year growth of 2.2%, 11% and 4.4%, respectively.The quarter’s enrollment across Chamberlain, Walden University and Medical and Veterinary segments is expected to be 39,891, 52,424 and 4,819 students, indicating year-over-year growth from 38,891, 48,116 and 4,773 students, respectively. Our model also expects CVSA’s fiscal fourth-quarter total enrollment to be up year over year 5.8% to 97,135 students.EarningsCovista is expected to report year-over-year bottom-line growth in the fiscal fourth quarter, because of its exemplary cost-saving measures through workforce reductions, centralized operations and tighter control over discretionary spending. The company’s efforts to manage its cost base through tighter controls on discretionary spending and ongoing operational discipline, while still funding growth initiatives, are an encouraging aspect.The Zacks Consensus Estimate for operating income of the Walden University and Medical and Veterinary segments is pegged at $51 million and $18.51 million, reflecting respective growth from $44 million and $14.9 million, reported a year ago. However, the operating income of the Chamberlain segment is expected to decline in the fiscal fourth quarter to $34.6 million from $35.7 million reported a year ago, somewhat offsetting further bottom-line growth.Nonetheless, Covista’s search for opportunities to invest in growth, create durable operational leverage, ensure sustainable student enrollment growth and enhance business persistence is expected to expand its margins in the upcoming period. Our proven model does not predict an earnings beat for Covista this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, it is not the case this time around.CVSA’s Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.CVSA’s Zacks Rank: The stock currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. Here are some companies in the Zacks Consumer Discretionary sector, which according to our model, have the right combination of elements to post an earnings beat.Six Flags Entertainment Corporation FUN has an Earnings ESP of +6.90% and a Zacks Rank of 1 at present. Six Flags’ earnings beat estimates in two of the last four quarters and missed on the other two occasions, the average negative surprise being 48.9%. The company’s earnings for the second quarter of 2026 are expected to improve 11.5% year over year.Corsair Gaming, Inc. CRSR currently has an Earnings ESP of +9.09% and a Zacks Rank of 2.Corsair’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 22.6%. The company’s earnings for the second quarter of 2026 are expected to surge 600% year over year.Marriott Vacations Worldwide Corporation VAC has an Earnings ESP of +5.26% and a Zacks Rank of 2.Marriott Vacations’ earnings beat estimates in three of the last four quarters and missed on the remaining occasion, the average surprise being 0.7%. The company’s earnings for the second quarter of 2026 are expected to inch up 1% year over year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Covista Inc. (CVSA) : Free Stock Analysis Report Marriott Vacations Worldwide Corporation (VAC) : Free Stock Analysis Report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report Corsair Gaming, Inc. (CRSR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-08-04WBD Set to Report Q2 Earnings: What's in Store for the Stock?
Zacks
WBD Set to Report Q2 Earnings: What's in Store for the Stock?
Warner Bros. Discovery WBD is slated to report second-quarter 2026 earnings on Aug. 6.The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $9.29 billion, suggesting a 5.3% year-over-year decline.The consensus mark for the second-quarter bottom line is currently pegged at a loss of 13 cents per share, widened by a penny over the past 30 days. This also marks a sharp decline from the year-ago quarter's earnings of 63 cents per share.In the last reported quarter, Warner Bros. Discovery delivered a negative earnings surprise of 1,070%. The company’s earnings beat the Zacks Consensus Estimate once in the trailing four quarters and missed the same in the remaining three, with an average negative surprise of 306.56%. Warner Bros. Discovery, Inc. price-eps-surprise | Warner Bros. Discovery, Inc. Quote Let’s see how things have shaped up for WBD before the announcement. Warner Bros. Discovery is expected to face a meaningful advertising headwind in the second quarter of 2026 due to the absence of NBA broadcasting rights. Management indicated that the loss of NBA programming will create a 16% ex-FX headwind to Streaming advertising revenues and a 20% ex-FX negative impact to Global Linear Networks advertising revenues in the quarter under review. While certain sports events will provide partial offsets, the NBA has historically been one of WBD's largest advertising drivers, making its absence likely to have pressured year-over-year advertising growth and overall revenue performance.The company's Global Linear Networks business continues to face structural pressure from declining pay-TV subscriptions. In the first quarter, domestic linear pay-TV subscribers fell roughly 10%, contributing to weaker distribution revenues. Warner Bros. Discovery indicated that underlying domestic delivery trends in the second quarter would remain broadly similar to the prior quarter, suggesting these secular declines are likely to continue weighing on affiliate-fee growth, advertising revenues and network profitability during the quarter under review.The company continues to incur restructuring, separation and transaction-related expenses as it progresses toward its planned merger with Paramount Skydance. WBD anticipates additional cash expenses related to the transaction even before the deal is finalized; this means that, despite improvements in core business o…Read full documentShow less
Warner Bros. Discovery WBD is slated to report second-quarter 2026 earnings on Aug. 6.The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $9.29 billion, suggesting a 5.3% year-over-year decline.The consensus mark for the second-quarter bottom line is currently pegged at a loss of 13 cents per share, widened by a penny over the past 30 days. This also marks a sharp decline from the year-ago quarter's earnings of 63 cents per share.In the last reported quarter, Warner Bros. Discovery delivered a negative earnings surprise of 1,070%. The company’s earnings beat the Zacks Consensus Estimate once in the trailing four quarters and missed the same in the remaining three, with an average negative surprise of 306.56%. Warner Bros. Discovery, Inc. price-eps-surprise | Warner Bros. Discovery, Inc. Quote Let’s see how things have shaped up for WBD before the announcement. Warner Bros. Discovery is expected to face a meaningful advertising headwind in the second quarter of 2026 due to the absence of NBA broadcasting rights. Management indicated that the loss of NBA programming will create a 16% ex-FX headwind to Streaming advertising revenues and a 20% ex-FX negative impact to Global Linear Networks advertising revenues in the quarter under review. While certain sports events will provide partial offsets, the NBA has historically been one of WBD's largest advertising drivers, making its absence likely to have pressured year-over-year advertising growth and overall revenue performance.The company's Global Linear Networks business continues to face structural pressure from declining pay-TV subscriptions. In the first quarter, domestic linear pay-TV subscribers fell roughly 10%, contributing to weaker distribution revenues. Warner Bros. Discovery indicated that underlying domestic delivery trends in the second quarter would remain broadly similar to the prior quarter, suggesting these secular declines are likely to continue weighing on affiliate-fee growth, advertising revenues and network profitability during the quarter under review.The company continues to incur restructuring, separation and transaction-related expenses as it progresses toward its planned merger with Paramount Skydance. WBD anticipates additional cash expenses related to the transaction even before the deal is finalized; this means that, despite improvements in core business operations, these expenses are likely to continue weighing on the company's reported earnings and free cash flow in the quarter to be reported.Offsetting these headwinds, WBD entered the second quarter with a compelling HBO Max content lineup, including the successful return of Euphoria, continued momentum from The Pitt and the June release of House of the Dragon Season 3. The company also highlighted an attractive pipeline featuring Stuart Fails to Save the Universe, Lanterns and Harry Potter and the Philosopher's Stone extending into the second half of the year. This steady flow of premium content is designed to boost viewer engagement, improve retention and attract new subscribers, supporting higher subscriber-related revenues. As a result, the streaming business is expected to have benefited from stronger user activity and monetization in the quarter under review. Our proven model does not conclusively predict an earnings beat for WBD this time around. Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy), or #3 (Hold) increases the odds of an earnings beat. But that is not the case here, as you can see below.WBD currently has an Earnings ESP of -85.14% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Here are some companies worth considering, as our model shows that they have the right combination of elements to beat on earnings in their upcoming releases:Versant Media Group, Inc. VSNT currently has an Earnings ESP of +6.01% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.VSNT shares have gained 23.7% in the past six months. VSNT is set to report second-quarter 2026 results on Aug. 6.Corsair Gaming CRSR currently has an Earnings ESP of +9.09% and a Zacks Rank #2.CRSR shares have surged 127.8% in the past six months. CRSR is slated to report second-quarter 2026 results on Aug. 6.Six Flags Entertainment Corporation FUN currently has an Earnings ESP of +6.90% and a Zacks Rank #3.FUN shares have returned 1.6% in the past six months. FUN is set to report its second-quarter 2026 results on Aug. 6. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report Six Flags Entertainment Corporation (FUN) : Free Stock Analysis Report Corsair Gaming, Inc. (CRSR) : Free Stock Analysis Report Versant Media Group, Inc. (VSNT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

