Six Flags Entertainment Corporation's stock surged 6.40% in pre-market trading following the release of its better-than-expected first-quarter financial results.
The amusement park operator reported quarterly revenue of $225.6 million, a 12% year-over-year increase that significantly exceeded Wall Street estimates of approximately $207.5 million. The company attributed the strong performance to a 4% rise in attendance and a 6% increase in per capita spending, driven by favorable pricing, a shift to higher-priced ticket products, and greater guest spending on food and beverages.
Although the company posted a wider net loss for the quarter, its adjusted EBITDA loss of $123 million beat analyst expectations of a $169.9 million loss. The results indicate improving operational trends as the company heads into its peak season.
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