Modified EBITDA, a non-GAAP measure, is defined as our consolidated income (loss) from continuing operations: excluding the following: the cumulative effect of changes in accounting principles, discontinued operations gains or losses, income tax expense or benefit, restructure costs or recoveries, reorganization items (net), other income or expense, gain or loss on early extinguishment of debt, equity in income or loss of investees, interest expense (net), gain or loss on disposal of assets, gain or loss on the sale of investees, amortization, depreciation, stock-based compensation, and fresh start accounting valuation adjustments. The income per share was $1.39 compared to an income per share of $1.80 in third quarter 2021, driven by lower revenues partially offset by a reduction in expenses. "We are always looking at potential new additions to the park and how/when they may best fit.". The park will extend its weekday hours to close at 7 p.m. in mid June. Investor Relations Home - Six Flags The higher In-park spending reflects the companys in-park pricing initiatives. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. "Adjusted EBITDA," a non-GAAP measure, is defined as Modified EBITDA minus the interests of third parties in the Modified EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta and Six Flags Over Texas). The decrease was primarily due to the deferral of revenue in the prior year period from guests whose benefits were extended from 2020 into 2021 due to the pandemic. What's new at Six Flags Great America in 2023 (rides no; food and The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Six Flags Great America guests enter the line for the Maxx Force ride in Gurnee. This state-of-the-art esports competitive gaming campus is complete with the newest high-tech equipment and the industry's biggest titles, providing an unmatched gaming experience. By providing these measures, we provide our investors with the ability to review our performance in the same manner as our management. The following tables set forth a reconciliation of net income to Adjusted EBITDA for the three month and nine month periods ended October 3, 2022, and October 2, 2021: Third party interest in EBITDA of certain operations (4), Capital expenditures, net of property insurance recovery (5). Adjustments to reconcile net loss to net cash used in operating activities: Other, including loss (gain) on disposal of assets, Change in inventories, prepaid expenses and other current assets, Change in accounts payable, deferred revenue, accrued liabilities and other long-term liabilities, Net cash provided by financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Definition and Reconciliation of Non-GAAP Financial Measures. Revenues and expenses of international operations are converted into U.S. dollars on an average basis as provided by GAAP. Based on our current federal net operating loss carryforwards, we anticipate paying minimal federal income taxes in 2022 and do not anticipate becoming a full cash taxpayer until at least 2024. Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. investors@sftp.com, Source: Six Flags Entertainment Corporation. The village has given the . Non-admission revenue per capita is calculated by dividing Park food, merchandise and other revenue by total attendance. Sisters Tammy Slaton Seemingly Out of Wheelchair Amid Weight Loss Journey: Photo, Padma Lakshmi Sizzles in SI Swimsuit Debut, Pitchfork and Them Announce Night Out, a Pride Celebration and Concert, Aerosmith Announces Farewell Concert Tour Dates, Listen to Kant10ts Big Meech: The Ones. The Cave featured original characters called Speelunkers that were created exclusively for Six Flags Over Texas. Corporate Communications, Investor Relations and Treasurer Announcement [] In 2022, Six Flags Great Adventure, Six Flags Over Georgia and Six Flags New England announced the addition of a new roller coaster for the 2023 seasons. At esix Gaming, we cater to all types of gamers. Six Flags Announces 2022-2023 Special Events Lineup We believe that Adjusted EBITDA minus capex is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. Forward-looking statements include all statements that are not historical facts and often use words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "may," "should," "could" and variations of such words or similar expressions. Dr. Diabolical's Cliffhanger at Six Flags Fiesta Texas, Wonder Woman: Flight of Courage at Six Flags Magic Mountain. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. The most recent new attraction at Hurricane Harbor water park next door was when Tsunami Surge, an 86-foot-tall water coaster dubbed the tallest of its kind in the world, opened in 2021. Adjusted EBITDA minus capex, a non-GAAP measure, is defined as Adjusted EBITDA minus capital expenditures, net of property insurance recoveries. March 11 - Aquaman: Power Wave opens at Six Flags Over Texas. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Maxx Force, which debuted in July 2019, remains the park's newest roller coaster. ARLINGTON, Texas -- (BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX), the world's largest regional theme park company and the largest operator of waterparks in North America, today reported third quarter 2022 financial results. bring a friend for free dates for 2022 : r/sixflags - Reddit As of October 2, 2022, the company had total reported debt of $2,389 million, and cash or cash equivalents of $73 million. The parks will be open from noon to 5 p.m. on May 6 and 7 for season pass holders only. Hurricane Harbor at Six Flags New England re-opens for the 2022 season. We believe that Modified EBITDA provides relevant and useful information for investors because it assists in comparing our operating performance on a consistent basis, makes it easier to compare our results with those of other companies in our industry as it most closely ties our performance to that of our competitors from a park-level perspective and allows investors to review performance in the same manner as our management. The $19.30 increase in guest spending per capita compared to first quarter 2021 was driven by a $10.33 increase in Admissions spending per capita and a $8.97 increase in In-park spending per capita. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. Midway Mayhem - SIX FLAGS OVER GEORGIA NEW FOR 2022 - Facebook Six Flags Appoints Edithann Velez Ramey as Chief Marketing Officer. In a surprise December announcement, Six Flag Fiesta Texas revealed it would open the first "P'Sghetti Bowl" coaster model from Skyline Attractions. Prices, operating schedule and park policies are subject to change without notice. Six Flags 2022 New Attractions | Six Flags Wiki | Fandom Six Flags 2022 Announcement Video (Unofficial) - YouTube I believe it's 3000 points to redeem a bring a friend ticket. Forward-looking statements include all statements that are not historical facts and often use words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "may," "should," "could" and variations of such words or similar expressions. Document. Six Flags New England Teasing Announcement Tomorrow SeaWorld San Antonio Has Limited Time Annual Pass Offer News Update: 2/26/2023 - The park's 2023 season opens Saturday. . Six Flags Sets Date to Announce Second Quarter 2022 Earnings. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. Opening dates for water parks in the Dallas-Fort Worth area | Fort Reddit and its partners use cookies and similar technologies to provide you with a better experience. April 22 . Adjusted EBITDA as defined herein may differ from similarly titled measures presented by other companies. For more information, please see our Built by Bolliger and Mabillard (B&M), this floorless dive coaster will be 150ft tall and feature the record breaking 95 degree, beyond vertical drop. The company partially offset the decrease in revenue with lower cash operating costs. These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19, including with respect to business operations, safety protocols and public gatherings; political or military events; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; economic conditions (including customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). See copyright and trademarks. We prepare our financial statements in accordance with United States generally accepted accounting principles ("GAAP"). Privacy Policy. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Six Flags has 27 parks across the United States, Mexico and Canada with world-class coasters, family rides for all ages, up-close animal encounters and thrilling water parks. For 61 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions. Rumors grew throughout the season that the ride would be delayed yet again. Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, and our other filings and submissions with the SEC, each of which are available free of charge on the companys investor relations website at investors.sixflags.com and on the SECs website at www.sec.gov. Popular Theme Park Announces All-New Coaster Coming in 2023 The village has given the park around $387,000 total in 2018, 2019 and 2021. Ive been trying to figure out which days I can bring a friend for free in my portal. View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005303/en/, Stephen Purtell Nelson took a trip during the July 4th fest, and noticed that Splashwater Falls looked different. The technical storage or access that is used exclusively for statistical purposes. Texans celebrate Cinco because a Texan led Mexicos victory. Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. The definition for each of these non-GAAP financial measures is set forth below in the notes to the reconciliation tables. An investor conference call will follow beginning at 7:00 a.m. Central Time. In addition, due to the adoption of a fiscal reporting calendar commencing January 1, 2021, there were three fewer days in the first nine months 2022 compared to the first nine months 2021, which accounted for 89 thousand additional guests in the first nine months 2021. Six Flags Magic Mountain will welcome the world's tallest and longest single-rail coaster to its world-record line-up next year. With a top speed of 63 mph, this launch-style water coaster will take riders to 90-degree angles, across more than 700 feet of track. SIX FLAGS and all related indicia are trademarks of Six Flags Theme parks, Inc.TM; 2022. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Were thinking there may be another PowerSplash in the future. All rights reserved. and our Summer is around the corner and area water parks are already preparing for the 2023 season. The company had net income of $96 million in the first nine months 2022, compared to $132 million in the prior year period. Unlike previous Six Flags announcements, this was not a chain-wide announcement, and all attractions were announced on their own separate days. Real-time updates and all local stories you want right in the palm of your hand. Learn more about our park safety protocols and procedures such as new cashless payments. Six Flags Great America guests ride Maxx Force in Gurnee. Visitors to Six Flags Great America will see improvements in comfort and fan experience at the Gurnee amusement park when it opens for the 2023 season Saturday, officials said. Adjusted EBITDA was a loss of $16 million, an improvement of $30 million compared to first quarter 2021, reflecting higher revenue and improved margins. The income per share was $1.13 compared to an income per share of $1.51 in the first nine months 2021. (Amounts in thousands, except per share data), Sponsorship, international agreements and accommodations, Operating expenses (excluding depreciation and amortization shown separately below), Selling, general and administrative expenses (excluding depreciation, amortization, and stock-based compensation shown separately below), Less: Net income attributable to noncontrolling interests, Net (loss) income attributable to Six Flags Entertainment Corporation. This announcement was praised for being a "perfect fit" for the Arlington, TX park. Six Flags: Transformation Plan To A Quicker Recovery (NYSE:SIX) Since most of the parks are not scheduled to be open during the first quarter, the company had a net loss of $66 million in first quarter 2022. The decrease was primarily due to lower unit sales of season passes and memberships. eSix Gaming at Six Flags Fiesta Texas in San Antonio As the worlds first regional theme park, Six Flags Over Texas has built a solid reputation of providing innovative thrills and lifelong memories for generations of families, said Six Flags Over Texas Park President Ron McKenzie. Remember to buy your parking online before you visit. Date. For 61 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Dr. Diabolical's Cliffhanger | Six Flags Wiki | Fandom Six Flags Entertainment Corporation (NYSE: SIX), the worlds largest regional theme park company and the largest operator of waterparks in North America, today reported first quarter 2022 financial results. Snake season in North Texas is here. Six Flags Magic Mountain 2022 Attraction Announcement Breakdown Our board of directors and management use Adjusted EBITDA to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA.

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