Stock Track | Six Flags Entertainment Soars Pre-Market on Strong Q3 Results and Bullish Outlook

Stock Track11-06

Six Flags Entertainment Corporation (NYSE: FUN), the largest regional amusement park operator in North America, saw its stock soar in pre-market trading on Wednesday after reporting strong financial results for the third quarter of 2024 and unveiling a bullish long-range strategic plan.

The company, which completed its merger with Cedar Fair earlier this year, reported net income attributable to the combined company of $111 million for the quarter, with revenue of $1.35 billion, beating analyst estimates. The robust performance was driven by the addition of the legacy Six Flags parks, which contributed $558 million to revenue and $206 million to Adjusted EBITDA.

Total attendance for the quarter reached 21 million guests, with 9.2 million visiting the legacy Six Flags parks, reflecting strong consumer demand across the combined portfolio. In-park per capita spending was $61.27, and out-of-park revenues totaled $102 million.

Looking ahead, Six Flags announced its new long-range strategic plan, dubbed "Project Accelerate," designed to drive attendance growth, margin expansion, and asset optimization. The company is targeting at least $800 million in annual unlevered pre-tax free cash flow by 2027, with plans to enhance the guest experience, identify incremental operating efficiencies, and integrate technology stacks across the combined business.

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