Earnings summaries and quarterly performance for Six Flags Entertainment Corporation/NEW.
Executive leadership at Six Flags Entertainment Corporation/NEW.
Board of directors at Six Flags Entertainment Corporation/NEW.
AR
Arik Ruchim
Detailed
Director
CH
Chieh Huang
Detailed
Director
DH
Daniel Hanrahan
Detailed
Lead Independent Director
FD
Felipe Dutra
Detailed
Director
JM
Jennifer Mason
Detailed
Director
JB
Jonathan Brudnick
Detailed
Director
LC
Louis Carr
Detailed
Director
MS
Marilyn Spiegel
Detailed
Director
MC
Michael Colglazier
Detailed
Director
SC
Sandra Cochran
Detailed
Director
SH
Steven Hoffman
Detailed
Director
Research analysts who have asked questions during Six Flags Entertainment Corporation/NEW earnings calls.
Thomas Yeh
Morgan Stanley
6 questions for FUN
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James Hardiman
Citigroup
5 questions for FUN
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Chris Woronka
Deutsche Bank AG
4 questions for FUN
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SW
Steven Wieczynski
Stifel
4 questions for FUN
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Arpine Kocharyan
UBS
3 questions for FUN
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David Katz
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3 questions for FUN
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Elizabeth Dove
Goldman Sachs
3 questions for FUN
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MB
Matthew Boss
JPMorgan Chase & Co.
3 questions for FUN
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Michael Swartz
Truist Securities
3 questions for FUN
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Adam Fox
Truist Securities
2 questions for FUN
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Susquehanna Financial Group
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Ian Zaffino
Oppenheimer & Co. Inc.
2 questions for FUN
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Isaac Sellhausen
Oppenheimer & Co. Inc.
2 questions for FUN
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Steve Wieczynski
Stifel Financial Corp.
2 questions for FUN
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Arpine Kocharian
UBS Group AG
1 question for FUN
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Ben Chaiken
Mitsui
1 question for FUN
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Lizzie Dove
Goldman Sachs
1 question for FUN
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Paul Golding
Macquarie Capital
1 question for FUN
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Recent press releases and 8-K filings for FUN.
Six Flags Entertainment Reports Q4 and Full Year 2025 Results, Outlines Strategic Priorities
FUN
Earnings
CEO Change
New Projects/Investments
- Six Flags Entertainment reported Q4 2025 Adjusted EBITDA of $165 million on $650 million in revenues and 9.3 million guests, and full-year 2025 net revenues of $3.1 billion and Adjusted EBITDA of $792 million.
- The company's Q4 2025 results were affected by a reduction of 99 operating days and the elimination of winter holiday events at four parks, leading to an attendance headwind of approximately 425,000 visits.
- New CEO John Reilly, in his first earnings call, emphasized improving execution, tailoring marketing, simplifying pricing, and driving operational consistency to expand margins from the 27% Adjusted EBITDA margin reported for 2025.
- For 2026, Six Flags plans CapEx of $400 million to $425 million, focusing on high-ROI projects, and aims to pay down debt to achieve net leverage below 4x.
- No formal guidance was provided for 2026, but the company expects the elevated Q4 2025 Depreciation and Amortization (D&A) to be the normalized run rate going forward due to accounting changes.
Feb 19, 2026, 1:00 PM
Six Flags Reports Q4 2025 Results and Outlines 2026 Strategy
FUN
Earnings
Guidance Update
Management Change
- Six Flags Entertainment Corporation reported Q4 2025 Adjusted EBITDA of $165 million on 9.3 million guests and $650 million in revenues. For the full year 2025, net revenues were $3.1 billion and Adjusted EBITDA was $792 million, with 47.4 million guests and per capita spending of $61.90.
- New CEO John Reilly, who joined late last year, emphasized a strategy focused on building a disciplined operating culture, improving execution to deliver reliable guest experiences, and driving higher profits. Key initiatives include improving ride-up time, elevating food quality, and enhancing operational efficiency.
- The company will not provide formal guidance for 2026, but anticipates operating days to be up slightly (maybe 1%). Expected CapEx for 2026 is in the $400 million-$425 million range, and interest is projected to be between $135 million and $145 million.
- Six Flags confirmed that 100% of the original gross cost synergies from the merger were delivered by the end of 2025, with ongoing efforts to find more efficiencies. Additionally, the company completed a refinancing of its April 2027 notes in early January 2026.
Feb 19, 2026, 1:00 PM
Six Flags Entertainment Corporation Reports Q4 and Full Year 2025 Results, Outlines 2026 Strategy
FUN
Earnings
Management Change
Guidance Update
- Six Flags Entertainment Corporation reported Q4 2025 Adjusted EBITDA of $165 million on $650 million in revenues and 9.3 million guests. For the full year 2025, net revenues were $3.1 billion, Adjusted EBITDA was $792 million, and the company entertained 47.4 million guests.
- New CEO John Reilly, who joined late last year, outlined a strategic focus for 2026 on improving execution, refining marketing and pricing strategies, and applying disciplined ROI standards to business decisions.
- The company completed a refinancing of its April 2027 notes in early January and plans to funnel all excess free cash flow towards debt reduction until net leverage is below 4x.
- For 2026, internal plans are built around improving revenue and cash flow relative to 2025, with a capital program of $400-$425 million focused on growth and cost efficiencies.
Feb 19, 2026, 1:00 PM
Six Flags Announces 2025 Fourth Quarter and Full Year Results
FUN
Earnings
Profit Warning
Demand Weakening
- Six Flags Entertainment Corporation reported net revenues of $650 million for Q4 2025, a 5% decrease from Q4 2024, and $3.10 billion for the full year 2025.
- The company posted a net loss of $92 million in Q4 2025 and a net loss of $1.60 billion for the full year 2025, which includes a $1.5 billion non-cash impairment charge.
- Adjusted EBITDA for Q4 2025 was $165 million, down from $209 million in Q4 2024, and $792 million for the full year 2025.
- Attendance decreased by 13% to 9.3 million guests in Q4 2025, while per capita spending increased by 8% to $66.41.
- As of December 31, 2025, net debt totaled $5.11 billion, and the company successfully refinanced its 2027 notes in early January.
Feb 19, 2026, 12:28 PM
Six Flags Entertainment Corporation Reports 2025 Fourth Quarter and Full Year Results
FUN
Earnings
Demand Weakening
New Projects/Investments
- Six Flags Entertainment Corporation reported net revenues of $650 million for the fourth quarter of 2025, a 5% decrease compared to the fourth quarter of 2024. Full-year net revenues for 2025 totaled $3.10 billion.
- The company recorded a net loss attributable to Six Flags Entertainment Corporation of $92 million for the fourth quarter of 2025, an improvement from a $264 million loss in the fourth quarter of 2024. The full-year net loss for 2025 was $1.60 billion, which includes a $1.5 billion non-cash impairment charge on goodwill and other intangibles.
- Attendance for the fourth quarter of 2025 was 9.3 million guests, a 13% decrease compared to the fourth quarter of 2024, while per capita spending increased 8% to $66.41. Full-year attendance for 2025 was 47.4 million guests.
- Adjusted EBITDA for the fourth quarter of 2025 was $165 million, down from $209 million in the fourth quarter of 2024. Full-year Adjusted EBITDA for 2025 totaled $792 million.
- As of December 31, 2025, net debt stood at $5.11 billion, and total liquidity was $623 million. CEO John Reilly acknowledged that 2025 results fell short of expectations but emphasized ongoing investments in park infrastructure, attractions, and technology to restore profitable growth and strengthen the balance sheet.
Feb 19, 2026, 11:00 AM
Six Flags Entertainment Corporation Details New Debt Agreement Terms
FUN
Debt Issuance
New Projects/Investments
M&A
- Six Flags Entertainment Corporation's Initial Notes issued under the Indenture total $1,000.0 million.
- The company may redeem some or all of these Notes on or after July 15, 2028, at specified prices, or earlier under certain conditions, including up to 40% at 108.625% of principal amount from equity offering proceeds prior to July 15, 2028. A change of control event requires an offer to repurchase Notes at 101% of principal amount.
- The Indenture includes restrictive covenants that limit the company's ability to incur additional debt, create liens, sell assets, merge, pay dividends, and make investments, which can be suspended if the Notes achieve an investment grade rating.
- Various financial thresholds and ratios, such as Adjusted EBITDA, Net Secured Leverage Ratio, and Interest Coverage Ratio, are defined and used to govern actions like incurring debt, making investments, and determining events of default.
Jan 14, 2026, 9:11 PM
Six Flags Announces Private Offering of Senior Notes and Redemption of 2027 Notes
FUN
Debt Issuance
- Six Flags Entertainment Corporation announced a private offering of $1.0 billion in aggregate principal amount of Senior Notes due 2032 on January 6, 2026.
- The company intends to use the net proceeds from this offering, along with cash on hand, to fully redeem its 5.375% and 5.500% Senior Notes due April 15, 2027 (the "2027 Notes").
- The redemptions are conditioned upon the consummation of a financing that yields at least $1.0 billion in gross proceeds.
Jan 6, 2026, 12:41 PM
Six Flags Decides Against Exercising Call Option for Six Flags Over Texas
FUN
M&A
New Projects/Investments
- Six Flags Entertainment Corporation announced its decision not to exercise its contractual call option to acquire the remaining non-controlling partner interests in Six Flags Over Texas.
- The company was required to notify the partnership by December 31, 2025, regarding its intent, with payment due in January 2028 if the option had been exercised.
- Six Flags CEO John Reilly stated that the decision was made because the contractual terms do not currently align with the company's capital allocation priorities.
- Six Flags will continue to operate and manage Six Flags Over Texas pursuant to the existing partnership agreement.
- This decision does not affect Six Flags' ownership or operations of Six Flags Over Georgia, for which the company exercised its call option in December 2024.
Jan 5, 2026, 1:00 PM
Six Flags Faces Securities Class Action Lawsuit
FUN
Legal Proceedings
M&A
Demand Weakening
- Kahn Swick & Foti, LLC (KSF) reminds investors of a January 5, 2026, deadline to file lead plaintiff applications in a securities class action lawsuit against Six Flags Entertainment Corporation.
- The lawsuit alleges that Six Flags failed to disclose material information in the registration statement for its July 1, 2024, merger with Cedar Fair, L.P., including chronic underinvestment, aggressive cost-cutting that degraded guest experience, and an undisclosed need for substantial capital.
- Following the merger, Six Flags' stock price declined from above $55 per share to as low as $20 per share, representing a nearly 64% decrease.
Jan 2, 2026, 11:18 PM
Six Flags Faces Securities Fraud Class Action Lawsuit
FUN
Legal Proceedings
M&A
- A class action lawsuit has been filed against Six Flags Entertainment Corp. (NYSE: FUN) by Berger Montague PC on behalf of investors.
- The lawsuit covers investors who purchased shares during the Class Period of July 1, 2024, through November 5, 2025, including in connection with the merger between Six Flags and Cedar Fair L.P..
- The complaint alleges that the merger registration statement failed to accurately convey Six Flags' true operational and capital needs, specifically regarding years of underinvestment requiring significant spending.
- Following the merger's close on July 1, 2024, Six Flags' stock, which traded above $55 per share, later fell to as low as $20, representing a nearly 64% decline.
- The deadline for investors to seek appointment as a lead plaintiff representative is January 5, 2026.
Jan 2, 2026, 2:06 PM
Quarterly earnings call transcripts for Six Flags Entertainment Corporation/NEW.
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