Six Flags Entertainment Corporation/NEW (FUN)

• A class action lawsuit has been commenced against Six Flags Entertainment Corporation (NYSE:FUN) concerning its July 1, 2024 merger with Cedar Fair, L.P.
• The lawsuit alleges that the merger's registration statement failed to disclose chronic underinvestment in Legacy Six Flags parks, requiring millions in additional capital expenditures, and that CEO Selim Bassoul's cost-cutting measures degraded operational competence and guest experience.
• Following the merger, Six Flags' stock price, which traded above $55 per share on July 1, 2024, subsequently fell as low as $20 per share, representing a nearly 64% decline.
• The deadline for stockholders to petition the court to serve as lead plaintiff is January 5, 2026.

• Kahn Swick & Foti, LLC (KSF) is reminding investors of the 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., specifically regarding chronic underinvestment, aggressive cost-cutting, and the need for significant capital infusion.
• Following the merger, Six Flags' stock price declined from above $55 per share to as low as $20 per share, a nearly 64% decrease.

• Lowey Dannenberg P.C. has filed a securities class action lawsuit against Six Flags Entertainment Corporation (NYSE: FUN) for alleged violations of federal securities laws.
• The lawsuit claims the Registration Statement for the July 1, 2024 merger with Cedar Fair, L.P. was negligently prepared, containing untrue statements or omissions.
• Specifically, it alleges Legacy Six Flags suffered from chronic underinvestment and operational degradation, requiring a massive, undisclosed capital infusion that undermined the merger's rationale.
• Investors who suffered losses of more than $100,000 in Six Flags' securities are encouraged to participate, with the deadline to serve as Lead Plaintiff being January 5, 2025.

• Six Flags Entertainment Corporation reported a 2% revenue decline to $1.32 billion and a net loss of approximately $1.16 billion for the third quarter of 2025, primarily due to a $1.5 billion non-cash impairment charge on goodwill and other intangibles.
• Despite a 1.1% increase in attendance to 21.1 million guests , lower per-visitor spending, driven by a shift towards season passes and heavy promotions, pressured margins.
• Management is considering strategic options, including turnaround or divestiture, for 30% of its parks that are underperforming, aiming to strengthen financial health amid nearly $5 billion in debt.
• Analysts remain cautiously optimistic, with the stock trading at a premium valuation of approximately 26 times next year’s expected earnings, and the company targets an adjusted EBITDA between $780 million and $805 million for 2025.

• Kahn Swick & Foti, LLC (KSF) has issued a shareholder alert regarding a securities class action lawsuit against Six Flags Entertainment Corporation.
• The lawsuit alleges that Six Flags and its executives failed to disclose material information in the registration statement for the July 1, 2024 merger with Cedar Fair, L.P..
• Specific charges include chronic underinvestment in Legacy Six Flags parks, aggressive cost-cutting that degraded operations and guest experience, and the need for a substantial undisclosed capital infusion.
• Investors with substantial losses have until January 5, 2026, to file lead plaintiff applications.
• Following the merger, Six Flags stock price declined from above $55 per share to as low as $20 per share, representing a nearly 64% decline.

Six Flags reported the following key financial results for Q3 2025 and updated its full-year 2025 guidance:

• Six Flags' Q3 2025 adjusted EBITDA was essentially flat year-over-year, with attendance up 1% and revenues down 2%. Softer-than-expected demand in September negatively impacted Q3 EBITDA by approximately $20 million.
• The company has revised its full-year 2025 adjusted EBITDA guidance due to continued demand challenges in the latter half of the year and the lingering effects of severe Q2 weather.
• Performance was bifurcated, with outperforming parks (representing 70% of property-level EBITDA) seeing double-digit modified EBITDA growth and a 5% attendance increase in Q3, while underperforming parks experienced a 5% attendance decline.
• Strategic initiatives for 2026 include reassessing marketing, re-evaluating pricing and capital allocation for parks, and completing technology integrations like a unified ticketing platform and ERP system.
• The CEO, Richard, is transitioning out of his role.

• FUN reported Q3 2025 net revenues of $1.32 billion, a 2% decrease, and Modified EBITDA of $580 million, a 1% decrease, despite a 1% increase in attendance to 21.1 million guests.
• In-park per capita spending for Q3 2025 declined by 4% to $59.08, while operating costs and expenses decreased significantly by 14% to $772 million.
• Q3 2025 Modified Park-Level EBITDA margins were 54% for outperforming parks and 40% for underperforming parks, indicating improved performance for both groups compared to Q2.
• The company's 2026 strategy will focus on reassessing pricing and product structure, optimizing operating and capital expenses, and prioritizing parks with the highest EBITDA potential.

• Six Flags Entertainment Corporation reported Q3 2025 net revenues of $1.32 billion, a 2% decrease from Q3 2024, and a net loss attributable to Six Flags Entertainment Corporation of $1.2 billion, largely due to a $1.5 billion non-cash impairment charge on goodwill and other intangibles.
• For Q3 2025, Adjusted EBITDA was $555 million, a $3 million decrease from the prior year, despite attendance increasing 1% to 21.1 million guests, while in-park per capita spending decreased 4% to $59.08.
• The company updated its full year 2025 Adjusted EBITDA guidance to a range of $780 million to $805 million.

• Six Flags Entertainment Corporation reported net revenues of $1.32 billion, a 2% decrease from Q3 2024, and a net loss of $1.2 billion for Q3 2025, primarily due to a $1.5 billion non-cash impairment charge.
• Adjusted EBITDA totaled $555 million, down $3 million compared to Q3 2024, while attendance increased 1% to 21.1 million guests.
• The company updated its full-year 2025 Adjusted EBITDA guidance to $780 million to $805 million.
• Preliminary October attendance decreased 11% year-over-year but increased 7% compared to 2023, and JANA Partners, including Travis Kelce, acquired a significant stake, leading to potential branding discussions.

• JANA Partners, in partnership with Super Bowl Champion Travis Kelce, consumer executive Glenn Murphy, and technology executive Dave Habiger, has announced an investment in Six Flags Entertainment Corporation (NYSE: FUN).
• The group collectively holds an economic interest of approximately 9% in Six Flags.
• JANA Partners plans to engage with Six Flags' Board of Directors and management to identify opportunities for enhancing shareholder value and improving the guest experience.